Sunday, October 12, 2008

McCain's Letter

Here is the letter from Senator McCain and 19 other Senators, sent in 2006, demanding reform of Fannie Mae and Freddie Mac. The letter said 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."

Neither Obama nor any other Democrat signed the letter. If Congress had acted on McCain's recommendations we might have avoided this economic crisis and I might have the courage to look at my 401k. Unfortunately, Democrats fought reform tooth and nail, perhaps preferring the political benefits of providing "affordable housing" to their constituents and the campaign contributions from Fannie and Freddie. Is this the party we want in charge of Washington?

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