Clinton-CRA/Franklin Raines/Barack Obama/U.S. Economy

[NOTAGUNNUT]

Originally Posted by Byng

Good Morning Republicans! Well we are having fun in the Republican sandpit this morning aren't we now. But tell me how is it that Obama and Biden's stock is going up and McCain and Palin's stock is plummeting? Are the rest of the country not as smart as you guy's?

Never underestimate the power of stupid people in large numbers.

[reg_indy]

Originally Posted by DaggerJohn

Thanks, Jethro--you nailed the Clinton/Raines/Obama link. I started a thread on this earllier but it was merged into another (and lost its clout).

I also appreciate fact-based threads such as this, rather than the usual pimping-for-Obama stuff that certain posters (main culprit: initials J.D.) use to pollute this forum.

http://www.huffingtonpost.com/hale-s..._b_127599.html

Phil Gramm anyone?

http://www.huffingtonpost.com/jim-mo..._b_127340.html

[reg_indy]

Originally Posted by jethro666

no problemo! with reid now throwing in the towel without a fix it is evident the democrats are basically clueless when it comes to running the country. btw, in the first link it states clearly bush (gasp!) saw and tried to fix this mess, only to be shot down by the democrats!

And who was in charge of Congress then?

Give you one hint... it wasn't the Dems. Bush could get done whatever he wanted.....

Oh, and speaking of lobbyists and money:

http://thinkprogress.org/2008/09/17/palin-blames-davis/

[Byng]

Originally Posted by NOTAGUNNUT

Never underestimate the power of stupid people in large numbers.

I was certainly fooled in 2004 so what do I know?

[Gopher]

Originally Posted by reg_indy

Phil Gramm anyone?

http://www.huffingtonpost.com/jim-mo..._b_127340.html

The author of the article you cited has his dates wrong and key players wrong.

http://banking.senate.gov/prel00/1214comm.htm

The bill in question was signed into law in December of 2000 by President Bill Clinton. Read the very last line of the press release. Notice the thanks expressed to "The President's Working Group on Financial Markets".

A copy of the report the Working Group provided can be found here:

http://www.ustreas.gov/press/release...rts/otcact.pdf

It's important to remember that the members of the Working Group were all appointed by President Bill Clinton. That report provided the justification for the Commodity Futures Modernization Act of 2000.

It's also important to note that, Like Senator Phil Gramm (R-TX), Senators Tom Harkins (D-IA) and Tim Johnson (D-SD) co-sponsored the legislation.

[jethro666]

Originally Posted by Big D Mom of Three

Yet another LIE issued by McCain.

care to try again?

[mechenic]

Originally Posted by JBartco

Article~Franklin Raines to pay $24.7 million to settle Fannie Mae lawsuit
By MARCY GORDON

The Associated Press

WASHINGTON — Former Fannie Mae chief Franklin Raines and two other top executives have agreed to a $31.4 million settlement with the government announced today over their roles in a 2004 accounting scandal.

Raines, former Fannie chief financial officer Timothy Howard and former controller Leanne Spencer were accused in a civil lawsuit in December 2006 with manipulating earnings over a six-year period at the company, the largest U.S. financer and guarantor of home mortgages.

Raines, a Seattle native and prominent Washington figure who was President Clinton's budget director, is relinquishing company stock options, proceeds from stock sales and other benefits. His part of the settlement is worth $24.7 million,

The stock options were valued at $15.6 million at the time they were issued to Raines, allowing him to buy shares at $77.10 and higher. Fannie Mae shares have been battered by the turbulence in the housing market — making the options that Raines was returning of negligible value, people familiar with the settlement said. They spoke on condition of anonymity because they did not publicly wish to criticize the accord.



Pretty good job but how did they manage to O-mit his O-bama connection??

Raines is tied to the hip with Obama.

[mechenic]

Kinda of funny how bribery is alive and well in the Democratic party.

[NOTAGUNNUT]

Originally Posted by mechenic

Kinda of funny how bribery is alive and well in the Democratic party.

Business as usual.

[Gopher]

Originally Posted by mechenic

Kinda of funny how bribery is alive and well in the Democratic party.

Have you ever heard of Randall Cunningham (R-CA)?

[Big D Mom of Three]

Originally Posted by NOTAGUNNUT

The article below quotes them as saying so.





Did the New York Times lie back in 2003 too?

http://query.nytimes.com/gst/fullpag...prod=permalink


I guess we know what the big D stands for.

What are you talking? I don't see anything in that article regarding Raines and Obama. You do know that's what I was referring to in my posts don't you? You can see the quote, can't you?


rolling eyes back childish one -

[Big D Mom of Three]

Originally Posted by jethro666

care to try again?

Try what?

The Washington Post reported -- with the kind of blind sourcing that suggests the source was Raines -- that Raines had "taken calls from Barack Obama's presidential campaign seeking his advice on mortgage and housing policy matters."

Raines said in the statement through the campaign, "I am not an advisor to Barack Obama, nor have I provided his campaign with advice on housing or economic matters."

Obama spokesman Bill Burton added an attack:

This is another flat-out lie from a dishonorable campaign that is increasingly incapable of telling the truth. Frank Raines has never advised Senator Obama about anything -- ever. And by the way, someone whose campaign manager and top advisor worked and lobbied for Fannie Mae and Freddie Mac shouldn't be throwing stones from his seven glass houses.

[jethro666]

Originally Posted by Big D Mom of Three

And by the way, someone whose campaign manager and top advisor worked and lobbied for Fannie Mae and Freddie Mac shouldn't be throwing stones from his seven glass houses.

http://www.baltimoresun2.com/talk/sh...d.php?t=162432

[Big D Mom of Three]

Originally Posted by jethro666

http://www.baltimoresun2.com/talk/sh...d.php?t=162432

Not really sure what your point is--there is nothing there.

[NOTAGUNNUT]

Originally Posted by Big D Mom of Three

What are you talking? I don't see anything in that article regarding Raines and Obama. You do know that's what I was referring to in my posts don't you? You can see the quote, can't you?


rolling eyes back childish one -

Obama’s careful parsing of words would have us overlook the evidence — and overlook that Jim Johnson, another Fannie Mae former president during Clinton’s term, was an Obama economic adviser and, for a time, led Obama’s potential vice presidential search team.

http://www.romesentinel.com/news?newsid=20080918-141150

[Big D Mom of Three]

So what he McCain and all the other criminals still have lobbyist and crooks working for them. It's too bad their campaign is still rife with lobbyist influence and doesn't see a similar 'perception problem' with the man currently running their own vice presidential selection process, a prominent DC lobbyist whose firm has represented Exxon and a top Enron executive, or their campaign chair and John McCain's top economic adviser Carly Fiorina, who presided over thousands of layoffs at Hewlett Packard while receiving a $21 million severance package and $650,000 in mortgage assistance.

At least Obama fired Johnson.

BACK TO THE SUBJECT

Raines never worked for Obama--end of thread! LOL!

[NOTAGUNNUT]

Originally Posted by Big D Mom of Three

So what he McCain and all the other criminals still have lobbyist and crooks working for them.

At least Obama fired Johnson.

BACK TO THE SUBJECT

Raines never worked for Obama--end of thread! LOL!

Sorry.... as someone else already said... they're joined at the hip.

Who signed those campaign contribution checks?

Was Obama working for Raines? HMMMMM.

[Big D Mom of Three]

Originally Posted by NOTAGUNNUT

Sorry.... as someone else already said... they're joined at the hip.

Who signed those campaign contribution checks?

Was Obama working for Raines? HMMMMM.

Someone can say and lie all they want.

There is no connection and unless you all can prove one the convo is over.

What does contribution checks have to do with working for someone. Nothing absolutely nothing.

[reg_indy]

http://wire.factcheck.org/2008/09/18...ie-and-barack/

[reg_indy]

Originally Posted by NOTAGUNNUT

Sorry.... as someone else already said... they're joined at the hip.

Who signed those campaign contribution checks?

Was Obama working for Raines? HMMMMM.

Freddie, Fannie and Barack
In a Sept. 16 stump speech in Vienna, Ohio, Republican presidential nominee John McCain went after Barack Obama, his Democratic counterpart, charging that Obama can’t possibly hope to change Washington. After all, McCain said, Obama is a big part of the problem. Why? Here’s McCain:

McCain (Sept. 16, Vienna, Ohio): He talks a tough game on the financial crisis, but the facts tell a different story. Senator Obama took more money from Fannie Mae and Freddie Mac than anyone but the chairman of the committee they answer to, and he put Fannie Mae’s CEO, who helped create this problem in charge of finding his vice president. That’s not change, that’s what’s broken in Washington.

McCain’s allegation about Obama’s contributions from the FMs is not true. As we’ve said many times, it’s illegal for candidates to accept contributions directly from corporations. But the FEC does keep track of the employers of individuals who give at least $200 to candidates. And according to the respected nonpartisan Center for Responsive Politics, in the 2008 election cycle Barack Obama has received $18,150 from employees of Freddie Mac. CRP does not list any Obama contributions from Fannie Mae.

But Obama is not No. 2 on the list of those getting contributions from the two companies, as McCain said. In fact, he ranks fourth in combined contributions, trailing Sen. Christopher Dodd, Rep. Melissa Bean and Sen. Lamar Alexander. McCain also neglects to mention his own $9,500 from Freddie Mac.

Obama is second on the list of those getting contributions from employees of only Freddie Mac. But, seriously, neither candidate’s number really makes much difference. Obama has raised more than $389.4 million in the 2008 election cycle. That makes his combined contributions from the FMs work out to roughly 0.005 percent of his total contributions. And McCain has raised about $174.2 million, making his combined FM contributions work out to … 0.005 percent.

Oh, and that part about Fannie Mae’s CEO being on Obama’s VP committee? Sort of. On June 4, Obama announced that Caroline Kennedy, Eric Holder and Jim Johnson would head his VP search committee. Kennedy, of course, is the daughter of JFK. Holder was Bill Clinton’s deputy attorney general. Johnson remained on Obama’s committee for just a week. He resigned on June 11, amid allegations that Johnson received preferential treatment from Countrywide Financial Corp.

But Johnson wasn’t the current CEO of Fannie Mae, as you might think from listening to McCain. He left nine years ago, in 1999.