Should Bush and McCain say “I told you so.”?

Deal Score0

To the Dems who blocked Bush’s proposed oversight of Frannie and Freddie in 2003.

Bush suggested this in 2003.
Under the plan, disclosed at a Congressional hearing in 2003, a new agency would have been created within the Treasury Department to assume supervision of Fannie Mae and Freddie Mac, the government-sponsored companies that are the two largest players in the mortgage lending industry.

But the Democrats said:
”These two entities — Fannie Mae and Freddie Mac — are not facing any kind of financial crisis,” said Representative Barney Frank of Massachusetts the ranking Democrat on the Financial Services Committee in 2003.

http://query.nytimes.com/gst/fullpage.html?res=9E06E3D6123BF932A2575AC0A9659C8B63&sec=&spon=&pagewanted=print

And since the Dems killed McCain’s creation of 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).

http://www.govtrack.us/congress/bill.xpd?bill=s109-190
http://www.govtrack.us/congress/bill.xpd?bill=s109-190&tab=summary
http://beltwaysnark.com/2008/09/16/john-mccain-supported-a-proposal-for-an-agency-to-oversee-fannie-and-freddiein-2005/

17 Comments
  1. Reply
    Adam
    February 4, 2011 at 12:01 pm

    Thank you.

    McCain saw this coming 3 years ago.

    McCain:
    “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.

    I urge my colleagues to support swift action on this GSE reform legislation.”

    Source: the Congressional Record.

    Obama is promising change and promises everyone everything. Go ahead think of something you want….I guarantee Obama has promised it.

    Obama is running an extremely stereotypical campaign. Promise change and everyone everything. He did add a twist….he is a minority. This will work on the ignorant.

    Remember the kid who ran for class President in High School. He/She promised less homework, longer lunches, easier homework, cheaper school lunches, and you could even share the teacher’s lounge once a week. Did you fall for it?

    How many out their are that ignorant???

    The election has me furious. I thought the American people were smarter than this.

    Did you know I have an award for performance from 2005 that was given to every manager in my company for outstanding performance. It went down hill after that year. Why? The Dems took congress and had an agenda. Get a Dem elected. How? By making Bush look as bad as possible.

  2. Reply
    peachy
    February 4, 2011 at 12:49 pm

    Mr. Krinkle – you are absolutely right! I don’t like “I told you so’s” but this is one time it’s due. You probably won’t get any coherent, logical, or intelligent dem replies…they have no “answer.” Thanks for pointing it out to them anyway!

  3. Reply
    Jedi Master AJ
    February 4, 2011 at 1:09 pm

    Hey genius,

    Republicans never wanted to regulate fannie and freddie. Since the government backed all of their loans, freddie and fannie were really ran by the government.

  4. Reply
    Mack & Sarah 08
    February 4, 2011 at 1:54 pm

    They should be SCREAMING ‘I TOLD YOU SO’…..

  5. Reply
    Ethel M
    February 4, 2011 at 2:23 pm

    Because that’s not the problem. McCain only said it because his lobbyist friend got fired from Freddie and Fannie. It was payback from McCain to only score political points. Deregulation is McCain’s name.

  6. Reply
    Rheneas
    February 4, 2011 at 3:10 pm

    Yes, I wish they would put an ad out about this.

  7. Reply
    JP617
    February 4, 2011 at 3:21 pm

    Bush can’t tell “I Told You So” to anybody because he is the reason the country is in an economic crisis. Instead of sending money to Iraq, he should be putting that money back in the country.

  8. Reply
    It's me, Barry!
    February 4, 2011 at 3:39 pm

    Ron Paul has been predicting this for decades.

  9. Reply
    Princess Catfish
    February 4, 2011 at 3:46 pm

    No McCain should not say I told you so…because as long as the voters know he could see that far ahead, that’s all that matters…

  10. Reply
    mommy
    February 4, 2011 at 4:01 pm

    Yes they should….But everyone wants to blame Bush….
    No one is Laughing though 🙁

  11. Reply
    Chick-a-deester
    February 4, 2011 at 4:51 pm

    Yeah that’s the ticket. Blame the Democrats for mess Republicans created. Did it not occur to you that no legislation has been passed into law the past two years that was not approved by the President. So please remind me of the point you were making about WHO to blame?

  12. Reply
    I hate stupidity and ignorance
    February 4, 2011 at 4:52 pm

    And the dem’s say that Bush is stupid…. he has his smart moments… even if they are far and few between…. and this is why I am going to vote for McCain he apparently knows more than he lets on sometimes…

  13. Reply
    William S
    February 4, 2011 at 4:55 pm

    Obama supporters don’t want facts, they just listen to whatever Obama tells them to listen to.

  14. Reply
    tim d
    February 4, 2011 at 5:49 pm

    They are to busy blaming Bush because that’s what the media tells them.
    The sad thing is the level of Democrat involvement in the whole thing and the monies they have received from these entities. This whole thing stinks and a whole lot of it smells like rotten, crooked Democrats.
    I really hope the conservative republicans block the bail out and let these companies fail.

  15. Reply
    Marvin the Martian
    February 4, 2011 at 5:55 pm

    The government should stop underwriting risk. It’s well and good our little ship of state stops to pick up everything floundering the sea, but add enough weight and the whole thing sinks.

    The phrase for the day is “moral hazard”

    When someone else bears the risk of mistakes, people are more likely to take foolish chances, like making loans to people with no verifiable credit history or who clearly cannot make the payments.

  16. Reply
    Sapphire
    February 4, 2011 at 6:45 pm

    Hahahaha….McCain will be the next President.

  17. Reply
    Cindy M
    February 4, 2011 at 7:29 pm

    GW should call a press conference just to say I told you so and McCain now needs to make this a huge issue for the rest of the campaign & start naming names. Stop letting the retarded democraps try to put the blame on the Republicans…they need to grow a set or a back bone or whatever they need and stand up to them…stop letting them get away with this crap.
    And while they are at it they should be screaming for Rangel’s resignation. How do you head the committee that writes the tax code and not know what you need to pay taxes on. So much for Pelosi’s transparent & ethical congress.

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