5 Responses to “John McCain Warned of Current Financial Meltdown”

Taryn says:
October 23, 2008 at 9:39 pm
Barney Franks is resposible for not only the collapse of Freddie Mac and Fannie Mae, he started a collapse of National finances all over the world. Why isn’t the man serving on “The chain gang” instead of talking about raising taxes.
The democrats ruled congress for 2 years and during that time they ruined the economy!
What can expect from Obama, well no one really knows except that he wants to “Spread the wealth around” The rich was expected to get the economy going , how many more program will be see for supporting lower income people who many times do not want to support themselves. When will we see the ending to Affirmative Action? It is way over time for that to go. People should get be awareded jobs by their qualifications, best qualified in the field get the job, no matter what color they are .They shouldn’t receive a job just because they are from a certain ethnic group. Let’s hope the government makes laws where it treats all people from all races the same one day. Do you think this will happen anytime soon?
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Taryn says:
October 2, 2008 at 11:47 pm
On the video in 2004 it looked as though the deomocartes running Fannie Mae and Freddie Mac
would not hardly let the regulator who were republicans say a word when it came to how these two companies were ran. The people who ran Fannie Mae and Freddie Mac were very rude and said “Everything was fine with Freddie Mac and Fannie Mae” the regulators tried to warn others the two companies and others .
Fannie Mae and Freddie Mac gave out very bad loans where the payment started low and then went up in a few years. Many clients just worried about the payment offered when they got the morgage loans, these loans should never have been made. Fannie Mae and Freddie Mac were destine to have the customer not able to pay his house notes in a matter of years, and so the house was foreclosed. Seems house ownders were surprised. Many companies such as Countrywide and other lenders followed Freddie Mac and Fannie Mae’s lead and gave out these same exact type loans. No one listens to the Republicans regulator ,
John McCain and others “Cried Wolf” and tried to fix the problems years ago. But those especially at Fannie Mae and Freddie Mac’s became mad and upset they thought that some of their low income clients could needed the loans that would ballon into higher payment in years to come.
Many young adults fell in the trap on these loans companies too.
So, now we have problems. Too much credit given out to those buying homes and those who did not need a credit card and certainly didn’t need to owe a large amount of money to credit card companies.
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jmsmith says:
October 1, 2008 at 6:32 pm
Oh no! He disagrees with your pandering partisan nonsense! He must be an uninformed liberal. Or perhaps he’s sick of your thin arguments coated with a thick layer of contempt. Because Freddie and Fannie are evidently the only reason for our current financial meltdown. That makes sense. Not like anyone else handed out mortgages to under-capitalized people with poor credit. Only Freddie and Fannie. Yeah.
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Johnny B says:
October 1, 2008 at 1:32 pm
Dude – you are so Red you might as well live in China. Amazing how it is all the Dems fault after having a congressional majority for only 2 years. These problems started back in Bush’s earlier years when regulation was put to bed for sub-prime borrowers.
No regulation-no more 401k – Dumba**!!
***HG says***
You don’t have a clue what you’re talking about, and that’s just like a typical liberal democrat. Here’s an article that might help you with a more educated comment next time:
http://www.hollywoodgrind.com/artur-davis-blames-fellow-democrats-for-financial-market-meltdown/
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Dan Michaels says:
October 1, 2008 at 12:37 pm
No, no, no. If you are going to be a Republican stooge, you have to get your talking points right:
Republicans = no regulation = free market = wonderful
Democrats = regulation = less free market = end of life as we know it
***HG says***
You make a great point that stereotypes are not always accurate. We need to take people at their word, like when Obama said he WILL RAISE TAXES, despite the economic crisis.
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