Sunday, October 12, 2008


Who sounded the alarm on Freddie and Fannie?

Sen. John McCain's 2006 demand for regulatory action on Fannie Mae and Freddie Mac could have prevented current financial crisis, as HUMAN EVENTS learned from the letter shown in full text below.

McCain's letter -- signed by nineteen other senators -- said that it was "...vitally important that Congress take the necessary steps to ensure that [Fannie Mae and Freddie Mac]...operate in a safe and sound manner.[and]..More importantly, Congress must ensure that the American taxpayer is protected in the event that either...should fail."

Sen. Obama did not sign the letter, nor did any other Democrat.

The full text of the letter appears below.

McCain Letter


Anonymous said...

Why McCain or other Republicans don't talk this point up just confounds me. They should be talking this point every which way. They should name names: Obama, Barney Frank, Chris Dodd et al. Am I missing something? Is there something we don't understand?

Anonymous said...

Exactly. What I (and probably others) don't understand, is why McCain treats Obama like he's campaigning for him. I understsnd being respectful, but come on, do you want to be president or not?