Monday, September 29, 2008

Just Asking

So, if the financial crisis was so dire last week that John McCain had to suspend his campaign, isn't there even more reason for him to do the same this week?


Anonymous said...

McCain actually tried to reach consensus on that, but Obama would hear nothing of it. Typical.

Here’s some interesting notes on the war and finances:

Body count in the last six months: 292 killed (murdered) in Chicago, 221 killed in Iraq. 

Illinois and Chicago leadership: Sens. Barack Obama & Dick Durbin, Rep. Jesse Jackson Jr., Gov. Rod Blogojevich, House leader Mike Madigan, Atty. Gen. Lisa Madigan, Mayor Richard Daley--all Democrats. They're all blaming each other. Can't blame Republicans, there aren't any!

IL sState pension fund $44 Billion in debt.

Cook County (Chicago) sales tax 10.25% highest in country.

Chicago school system one of the worst in the country.

This is the state and city where Obama comes from. He's gonna 'fix' Washington politics for sure.

Anonymous said...

Oh, please. Anyway, Mr. McSame supporter, you didn't answer the question!

Anonymous said...

Here is a quick look into 3 former Fannie Mae executives who have brought down Wall Street . . . . . and look where they are now!

FRANKLIN RAINES - Obama Chief Economic Advisor

Franklin Raines was a Chairman and Chief Executive Officer at Fannie Mae. Raines was forced to retire from his position with Fannie Mae when auditing discovered severe irregularties in Fannie Mae's accounting activities. At the time of his departure The Wall Street Journal noted, " Raines, who long defended the company's accounting despite mounting evidence that it wasn't proper, issued a statement late Tuesday conceding that "mistakes were made" and saying he would assume responsibility as he had earlier promised. News reports indicate the company was under growing pressure from regulators to shake up its management in the wake of findings that the company's books ran afoul of generally accepted accounting principles for four years." ;Fannie Mae had to re duce its surplus by $9 billion.
Raines left with a "golden parachute valued at $240 Million in benefits. The Government filed suit against Raines when the depth of the accounting scandal became clear. . The Government noted, "The 101 charges reveal how the individuals improperly manipulated earnings to maximize their bonuses, while knowingly neglec ting accounting systems an! d internal controls, misapplying over twenty accounting principles and misleading the regulator and the public. The Notice explains how they submitted six years of misleading and inaccurate accounting statements and inaccurate capital reports that enabled them to grow Fannie Mae in an unsafe and unsound manner." These charges were made in 2006. The Court ordered Raines to return $50 Million Dollars he received in bonuses based on the miss-stated Fannie Mae profits.

TIM HOWARD - Obmana Chief Economic Advisor
Tim Howard - Was the Chief Financial Officer of Fannie Mae. Howard "was a strong internal proponent of using accounting strategies that would ensure a "stable pattern of earnings" at Fannie. In everyday English - he was cooking the books. The Government Investigation determined that, "Chief Financial Officer, Tim Howard, failed to provide adequate oversight to key control and reporting functions within Fannie Mae,"
On June 16, 2006, Rep. Richard Baker, R-La., asked the Justice Department to investigate his allegations that two former Fannie Mae executives lied to Congress in October 2004 when they denied manipulating the mortgage-finance giant's income statement to achieve management pay bonuses. Investigations by federal regulators and t he company's boa! rd of directors since concluded that management did manipulate 1998 earnings to trigger bonuses. Raines and Howard resigned under pressure in late 2004.
Howard's Golden Parachute was estimated at $20 Million!

JIM JOHNSON - Johnson hired as a Senior Obama Finance Advisor and was selected to run Obama 's Vice Presidential Search Committee
Jim Johnson - A former executive at Lehman Brothers and who was later forced from his position as Fannie Mae CEO. A look at the Office of Federal Housing Enterpr ! ise Oversight's May 2006 report on mismanagement and corruption inside Fannie Mae, and you'll see some interesting things about John son. Investigators found that Fannie Mae had hidden a substantial amount of John son's 1998 compensation from the public, reporting that it was between $6 million and $7 million when it fact it was $21 million." Johnson is currently under investigation for taking illegal loans from Countrywide while serving as CEO of Fannie Mae.
Johnson's Golden Parachute was estimated at $28 Million.

Anonymous said...

No, the claims you are making about Obama's campaign have been conclusively shown to be false. On the other hand, the links ot Fannie/Freddie to the McCain campaign are indeed true.

So, that makes you a liar or an ignorant fool. Which is it?