That’s Right Nate

Thoughts from a right thinker.

Economic Failures Rest Squarely on Obama

with one comment

As John McCain says, “The fundamentals of the economy are strong.”  There is nothing to fear.  There is no need to worry here.  Everything is fine.  However, if we were on the verge of economic collapse the blame falls squarely on Barack Obama who created the current crisis.

You see, as a Senator for nearly 30 years, John McCain has seen the culture of corruption and a lot of business as usual attitude among the elites that govern this country, but even he singles out Barack Obama as the business as usualiest of all the Senators.

McCain said of his opponent. “But maybe just this once he could spare us the lectures, and admit to his own poor judgment in contributing to these problems. The crisis on Wall Street started in the Washington culture of lobbying and influence peddling, and he was right square in the middle of it.”

It is clear that when McCain’s economic advisor Phil Gramm deregulated the banking industry before going to work as a Vice-President of large Swiss Bank UBS, he could have had no idea that a Senator like Obama would come along and use his connections to make billions of dollars while collapsing Washington in a pile of bad debt.

McCain has attempted to tie Obama to the CEOs of Freddie Mac and Fannie Mae.  I think this is a charge that will stick because John McCain has inside knowledge of the workings of those two companies.

Among the companies’ past advocates are Mr. McCain’s campaign manager, Rick Davis, a longtime lobbyist; Mr. McCain’s confidant and adviser Charlie Black, whose firm worked for Freddie Mac for several years ending in 2005, and the deputy campaign finance chairman, Wayne L. Berman, a vice president for Ogilvy Worldwide and a former Fannie Mae lobbyist.

Mr. Davis previously was head of the Homeownership Alliance, a coalition of banks and housing industry interests led by Fannie and Freddie to stave off regulations.

The group was formed to counter another organization, FM Watch, an alliance of financial institutions and lobbying associations that wanted to even the playing field against Fannie Mae and Freddie Mac, by challenging the implicit government guarantee that allowed the two firms to borrow funds at lower interest rates.

Six members of the Republican lobbying firm Fierce Isakowitz & Blalock, all Fannie Mae lobbyists, have given Mr. McCain $13,250, records show.

The New York investor Geoffrey T. Boisi, a member of Freddie Mac’s board, contributed more than $70,000 to Mr. McCain and Republican Party  committees working for his election. Both he and Richard F. Hohlt, a Fannie Mae lobbyist, are among the McCain “bundlers” who have raised $100,000 to $250,000 from others, according to the campaign Web site.

As you can imagine with these kind of connections to these two companies, if anybody is in a position to see who is responsible for their failure, it is Senator McCain.  I believe once people understand his connections to the two companies they will share his belief that Barack Obama is squarely responsible for the economic problems facing the country…I mean if there were problems.


Written by thatsrightnate

September 21, 2008 at 8:16 am

One Response

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  1. so your saying that a single senator has caused the economic crisis? So you believe that McCain is the master of truth serum? I don’t really know about that. A little birdie told me Sarah Palin never went to Iraq and she never sold anything on Ebay. Your campaign keeps spreading the lies, and this one simply can’t be true with any senator.

    truth serum



    September 21, 2008 at 8:26 am

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