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akuma587 on 21 September 2008
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koffieboon said:
tokilamockingbrd said:
akuma587 said:
The collapse of Fannie Mae and Freddie Mac would have been catastrophic, at the same level as AIG.

 

 

Yes, In fact even worse. They HAD to bail out F & F, it would have been really bad. The problem is the corruption that led to the collapse. F & F can be linked to the root of the housing woes. It all started with their corruption and it trickled down.

 

My whole point was McCain noticed it and tried to do something. It is only speculation as to why Obama recieved so much money from them. It could be something like because he is a Minority (which would not be that bad) or it could be bad, and he was helping F & F escape regulation and oversight.

McCain is not an advocate of heavy regulation. He prefers strict oversight. (which is similiar except it is more hands off). Any of the 2 might have saved F & F. Heavy regulation is bad because it makes everything(cept certain things, like public works) less effcient. Oversight allows the Gov to keep an eye on corruption without interfering with the markets. George Bush might have been slightly Lasse Fare (spelling?), McCain is a classic liberal.

This article on CNN actually states McCain received a lot more money from "directors, officers, and lobbyists for Fannie Mae and Freddie Mac" than Obama, namely $169000 versus only $16000. Obama did receive a lot more from normal employees though.

http://politicalticker.blogs.cnn.com/2008/09/19/fact-check-did-obama-profit-from-fannie-and-freddie/

 

 

Shhhhh, don't tell that to the people (or McCain) who claim that Obama had something to do with bailing out Fannie Mae and Freddie Mac.  Take your facts and leave!

 



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