Obama today:<br><br>"It happened in the 1980s, when we loosened restrictions on Savings and Loans and appointed regulators who ignored even these weaker rules. Too many S&Ls took advantage of the lax rules set by Washington to gamble that they could make big money in speculative real estate. Confident of their clout in Washington, they made hundreds of billions in bad loans, knowing that if they lost money, the government would bail them out. And they were right. The gambles did not pay off, our economy went into recession, and the taxpayers ended up footing the bill. Sound familiar?"<br><br><br><br>Keating Five<br><br><br><br><br><br>
Even though eloquent Obama got it down to a 30 second sound bite it just won't be brought up. Too boring. People would have to pay attention. We haven't paid attention for eight years while Bush et al has raped the country. Why do you think that will change now?<br><br>
Because McCain is presenting himself as the champion of Washington's ethics and finance reform?<br><br>Someone's going to take advantage of Obama's bunt and run the bases with it. In the Senate Ethics Committee report, McCain was criticized for exercising "poor judgment" when he met with the federal regulators on Keating's behalf.<br><br> Just sayin'. <br><br>
I'm not so sure to write it off... <br><br>McCain ---> Keating Five associate. (OK, old news)<br><br>FF to 2008:<br>Phil Gramm ---> changed Investment Banking Law which brought this disaster ---> McCain's Campaign mgr.<br><br>could be possible Sect of The Treaury if McCain wins.<br><br>I dunno... doesn't look very good !<br><br>Vultures of a feather, ya know !!<br><br>David (OFI)
Well now that you mention federal regulators it might be a well placed bunt. Now if someone were to point out that federal regulators with actual power to regulate might have put a damper on the subprime debacle as well as Bear Stearns, Fannie Mae Freddie Mac, Lehman Brothers and now AIG augering in.<br><br>Could it possibly be that suddenly federal rules and regulations become the mantra? That sure sounds like big government and Mister Deregulation aka John McCain cannot convert to that on such short notice.<br><br>But I saw the public do a 180 on offshore drilling. Debating today in the Senate whether to drill on George's Bank. A place where a small spill would be utterly devastating to New England fishing, and I just can't believe it.<br><br><br><br><br><br><br>
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