Tuesday, September 30, 2008

John McCain Told Them (Bill Clinton Says So)

Fact Check: Did McCain warn about Fannie, Freddie 2 years ago?

The Statement: A television ad titled "Rein," released Tuesday, September 30 by Republican Sen. John McCain's presidential campaign, repeats a claim McCain has made repeatedly on the campaign trail — that he called for more oversight of lending institutions Fannie Mae and Freddie Mac. "John McCain fought to rein in Fannie and Freddie," the ad's narrators says, before citing media reports on McCain's efforts.

Get the facts!

The Facts: In May 2006, McCain was speaking on the Senate floor in support of the Federal Housing Enterprise Regulatory Act of 2005, a plan he had co-sponsored. In the speech, he cited a federal report, saying that "Fannie Mae employees deliberately and intentionally manipulated financial reports to hit earnings targets." He also noted a $3.8 million fine Freddie Mac had recently paid to the Federal Elections Commission over problems with disclosure of its political lobbying.

"These are entities that have demonstrated over and over again that they are deeply in need of reform," McCain said in the speech. He urged senators to support changing how the institutions were overseen by the government. "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," McCain said in the speech.

The legislation, which never became law, would have moved oversight of Fannie and Freddie from the department of Housing and Urban Development to an independent Federal Housing Enterprise Regulatory Agency.

The Verdict: True. While it's impossible to know what the impact of his legislation would have been, the ad accurately describes McCain's stance and comments.
-- CNN Politics.com.

1 comment:


  1. My name is CARISSA WILLIAM, and I base in USA...My life is back!!! After 2 years of Broken marriage, my husband left me with two kids . I felt like my life was about to end i almost committed suicide, i was emotionally down for a very long time. Thanks to a spell caster called Dr AIFEBO , which i met online. On one faithful day, as I was browsing through the internet,I came across allot of testimonies about this particular spell caster. Some people testified that he brought their Ex lover back, some testified that he restores womb,cure cancer,and other sickness, some testified that he can cast a spell to stop divorce and so on. i also come across one particular testimony,it was about a woman called Sonia,she testified about how he brought back her Ex lover in less than 2 days, and at the end of her testimony she dropped Dr AIFEBO e-mail address. After reading all these,I decided to give it a try. I contacted him via email and explained my problem to him. In just 24hours, my husband came back to me. We solved our issues, and we are even happier than before Dr AIFEBO, is really a gifted man and i will not stop publishing him because he is a wonderful man... If you have a problem and you are looking for a real and genuine spell caster to solve all your problems for you. Try High dr. aifabospelltemple@gmail.com
    anytime, he might be the answer to your problems. Here's his contact: dr.aifebospelltemple@gmail.com.
    (1)If you want your ex back.
    (2) if you always have bad dreams.
    (3)You want to be promoted in your office.
    (4)You want women/men to run after you.
    (5)If you want a child.
    6)You want to tie your husband/wife to be yours forever.
    (7)Herbal care
    (8)Marriage Spells.......

    ReplyDelete

COMMENTS ARE BACK ON