DFW HOYA
Platinum Hoya (over 5000 posts)
Posts: 5,777
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Post by DFW HOYA on Sept 18, 2008 12:42:16 GMT -5
Out of curiosity, where does "Barry" come from? Or is it just an attempt to not-so-subtly demean him by making Barack Obama sound like some dude named "Barry"? Barry was a nickname in his high school yearbook (class of 1979). He was Barack at Columbia and Harvard. Hopefully this hasn't reached the stage of urban legend, akin to the one which claims Geraldo Rivera used to be known as "Jerry Rivers".
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TC
Platinum Hoya (over 5000 posts)
Posts: 9,459
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Post by TC on Sept 18, 2008 12:56:33 GMT -5
Actually, though, I do find Ed's post from McLovin' interesting. That shows incredible foresight. 2002 would have shown foresight. By 2005 the damage was done. Does anyone think that this mess will finally get either side to finally address derivatives?
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Elvado
Platinum Hoya (over 5000 posts)
Posts: 6,080
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Post by Elvado on Sept 18, 2008 13:13:46 GMT -5
Apparently,whatever damage had been done by 2005 was not enough to get Chris Dodd's attention. Of course, he and BHO being 1 and 2 on the Fannie/Freddie largesse list might have been involved as well.
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SirSaxa
Silver Hoya (over 500 posts)
Posts: 747
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Post by SirSaxa on Sept 18, 2008 13:17:30 GMT -5
On May 25, 2005 John McCain spoke in support of a bill before Congress to change the way Freddie Mac and Fannie Mae are regulated. Among other things he said: "For years I have been concerned about the regulatory structure that governs Fannie Mae and Freddie Mac–known as Government-sponsored entities or GSEs–and the sheer magnitude of these companies and the role they play in the housing market. OFHEO’s report this week does nothing to ease these concerns. In fact, the report does quite the contrary. OFHEO’s report solidifies my view that the GSEs need to be reformed without delay. I join as a cosponsor of the Federal Housing Enterprise Regulatory Reform Act of 2005, S. 190, to underscore my support for quick passage of GSE regulatory reform legislation. If Congress does not act, American taxpayers will continue to be exposed to the enormous risk that Fannie Mae and Freddie Mac pose to the housing market, the overall financial system, and the economy as a whole."
The bill stated: "1) in lieu of the Office of Federal Housing Enterprise Oversight of the Department of Housing and Urban Development (HUD), an independent Federal Housing Enterprise Regulatory Agency which shall have authority over the Federal Home Loan Bank Finance Corporation, the Federal Home Loan Banks, the Federal National Mortgage Association (Fannie Mae), and the Federal Home Loan Mortgage Corporation (Freddie Mac); and (2) the Federal Housing Enterprise Board. Sets forth operating, administrative, and regulatory provisions of the Agency, including provisions respecting: (1) assessment authority; (2) authority to limit nonmission-related assets; (3) minimum and critical capital levels; (4) risk-based capital test; (5) capital classifications and undercapitalized enterprises; (6) enforcement actions and penalties; (7) golden parachutes; and (8) reporting."
It never got out of Sen. Dodd's committee. [/blockquote] We are all entitled to our opinions, but not to our own "facts". In May 2005, the Senate Banking Committee Chairman was Republican Richard Shelby. It was almost two years later -- January, 2007 -- before the committee became "Sen. Dodd's".
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Elvado
Platinum Hoya (over 5000 posts)
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Post by Elvado on Sept 18, 2008 13:19:26 GMT -5
Fair enough. Either way, McCain had it right in 2005 and BHO was nowhere to be found. We do all know where Franklin Raines was then and is now.
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EasyEd
Platinum Hoya (over 5000 posts)
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Post by EasyEd on Sept 18, 2008 13:22:24 GMT -5
Sir Saxa, I stand corrected on my post.
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EasyEd
Platinum Hoya (over 5000 posts)
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Post by EasyEd on Sept 19, 2008 8:51:47 GMT -5
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hoyatables
Diamond Hoya (over 2500 posts)
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Post by hoyatables on Sept 19, 2008 9:14:03 GMT -5
I wish they would both spend less time giving generic platitudes and attacking each other and more time hitting the books, consulting with their advisors, and coming up with a real plan. They are going to inherit this mess, and they better have a plan to fix it. The one who comes up with the best plan gets my vote, all other "problems" aside. Enough of this nonsense.
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rosslynhoya
Diamond Hoya (over 2500 posts)
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Post by rosslynhoya on Sept 19, 2008 9:49:14 GMT -5
Hopefully this hasn't reached the stage of urban legend, akin to the one which claims Geraldo Rivera used to be known as "Jerry Rivers". I hate to let a good Geraldo slam go by. From Snopes, home of all that is urban legendary: www.snopes.com/media/celebrity/geraldo.aspIt's true that he was never quote "Jerry Rivers" but much like Barack Obama, up through his mid-20s, the man who would one day be known as Geraldo Rivera went by the moniker "Gerry Riviera." According to his own biography, upon being hired for his first TV news job, Gerry was taught how to trill his r's and learned "that the G in Spanish is pronounced H." As far as I'm concerned, the case is closed. You may now return to your regularly scheduled partisan ranting.
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Bando
Golden Hoya (over 1000 posts)
I've got some regrets!
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Post by Bando on Sept 19, 2008 10:24:17 GMT -5
Hoyatables, mostly agree with your stance. Stop pointing fingers and playing the blame game. Putting aside the average Joe, 95% of Congress probably can't fully comprehend or provide an informed opinion about this financial crisis. The last couple of weeks, this country has essentially been directed by two men in govt (Paulson and Bernanke) and a handful of financial titans. I don't place as much emphasis on the actual solution each candidate proposes...chances are, they will be similar in many ways. What is MOST important to the candidates, and what should determine who emerges as the frontrunner, is the degree of clarity in which they explain their ideas to the American people. The candidate that can speak with the most confidence and clarity on these important issues will be the one that stands out. While there are fundamental problems with a lot of balance sheets out there, so much of the market is perception -- at the same time, a knee-jerk reaction of firing the SEC Commissioner in the middle of high-level negotiations on a bailout is probably not the most prudent option. The fact remains, you aren't going to get the American public to understand what's happening here...the country needs someone to reassure them and provide solutions...enough of the bickering...it is so counterproductive and is just irritating at this point (at least on these related issues). That said, I would like to hear Senator Obama's explanation why he has so many advisors from Fannie Mae...I am not sufficiently informed about his connection to Frank Raines, but that guy is an effin' crook, and I think Obama needs to explain what he was thinking in bringing him into the fold. Obama's connection is based off a Washington Post article. Raines has denied he provided any advice to the campaign. If we're going to play this silly game, it should be noted that among McCain's advisers are John Thain, from Merrill Lynch, and Martin Feldstein, who serves on AIG's board of directors.
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Boz
Blue & Gray (over 10,000 posts)
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Post by Boz on Sept 19, 2008 11:15:44 GMT -5
heh-heh-heh-heh
"Obama's Fannie"
heh-heh-heh-heh
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hoyatables
Diamond Hoya (over 2500 posts)
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Post by hoyatables on Sept 19, 2008 12:15:14 GMT -5
heh-heh-heh-heh "Obama's Fannie" heh-heh-heh-heh I'm just happy I'm not the only person who laughed when he saw that title.
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