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Canadian Broadcasting apoligizes for insulting Palin

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Franklin Raines

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How we got to be in this jam

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Obama one time volunteer under investigation

A one time volunteer's wife received a grant from Senator Obama to build a garden, and the garden was never built.
 
Now, they are under investigation, here is the article:
 
September 25, 2008

Obama's $100K Grant for a Garden Never Built

 

 

 

 

A $100,000 state grant for a botanic garden in Englewood that then-state Sen. Barack Obama awarded in 2001 to a group headed by a onetime campaign volunteer is now under investigation by the Illinois attorney general amid new questions, prompted by Chicago Sun-Times reports, about whether the money might have been misspent.

The garden was never built. And now state records obtained by the Sun-Times show $65,000 of the grant money went to the wife of Kenny B. Smith, the Obama 2000 congressional campaign volunteer who heads the Chicago Better Housing Association, which was in charge of the project for the blighted South Side neighborhood.

Smith wrote another $20,000 in grant-related checks to K.D. Contractors, a construction company that his wife, Karen D. Smith, created five months after work on the garden was supposed to have begun, records show. K.D. is no longer in business.

Attorney General Lisa Madigan -- a Democrat who is supporting Obama's presidential bid -- is investigating "whether this charitable organization properly used its charitable assets, including the state funds it received," Cara Smith, Madigan's deputy chief of staff, said Wednesday.

In addition to the 2001 grant that Obama directed to the housing association as a "member initiative," the not-for-profit group got a separate $20,000 state grant in 2006.

Madigan's office has notified Obama's presidential campaign of the probe, which was launched this week. But Obama's actions in awarding the money are not a focus of the investigation, Smith said.

Questions about the grant, though, come as spending on local pet projects has become an issue in Obama's campaign against John McCain.

Obama and Kenny Smith announced the "Englewood Botanic Garden Project" at a January 2000 news conference at Englewood High School. Obama was in the midst of a failed bid to oust South Side Democratic Rep. Bobby Rush for a seat in Congress. The garden -- planned near and under L tracks between 59th Place and 62nd Place -- fell outside of Obama's Illinois Senate district but within the congressional district's borders.

Obama vowed to "work tirelessly" to raise $1.1 million to help Smith's organization turn the City of Chicago-owned lot into an oasis of trees and paths. But Obama lost the congressional race, no more money was raised, and today the garden site is a mess of weeds, chunks of concrete and garbage. The only noticeable improvement is a gazebo.

In a previous interview, Smith said the state grant money was legitimately spent, mostly on underground site preparation.

But no one ever took out construction permits required for such work, city records show. And a contractor who Smith said did most of the work told a reporter all he did was cut down trees and grade the site with a Bobcat.

Citing the garden's failure to take root, NeighborSpace -- an umbrella group for dozens of community gardens citywide -- moved Sept. 9 to return the site to the city. Its action followed a July 11 Sun-Times report on the grant.

Obama spokesman Michael Ortiz said Wednesday the senator's staff in Washington will monitor the Madigan probe and an additional review under way by Gov. Blagojevich's administration to make sure "the taxpayer funds allocated for the construction of the garden are recuperated from CBHA if the agencies determine that the funds were not properly spent." Obama's goal is to ensure the site "be used in a way that benefits the community and that any taxpayer dollars allocated are spent wisely," Ortiz said.

The relationship between Smith and Obama dates to at least 1997, when Obama wrote a letter that Smith used to help the housing association win city funding for an affordable-housing development near the garden site. Plans called for more than 50 homes; a dozen ultimately were built.

Smith also has donated $550 to Obama campaign funds.

The Sun-Times learned about Karen Smith's involvement in the project through an Aug. 12 Freedom of Information Act response from a lawyer for Blagojevich¹s Department of Commerce and Economic Opportunity. The department, according to the lawyer, had ³discovered² 52 pages of ³additional documents² ommitted from an initial response in May to a Sun-Times¹ Freedom of Information Act request about the grant. 

Neither Smith nor his wife has been accused of any wrongdoing. Smith and his lawyer did not return repeated calls seeking comment.

In an interview in July, Smith said he was never able to raise the money needed for the garden. But the state grant awarded by Obama was spent properly, he said, on the underground work, with most of the work done by a contractor whose name Smith got wrong.

The Sun-Times tracked down the contractor, Rodolfo Marin, in Austin, Texas, where he now lives.

"What I was hired for was: Clean up the area and cut the trees -- that's all," Marin said. He said he rented a Bobcat -- a sort of small bulldozer -- for the project.

And how much did Smith pay him? "If he spent about $3,000 with me, that was too much."

Chris Fusco and Dave McKinney

 
 
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Clinton on McCain, he is doing the right thing

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Don't know who William Ayres is yet?

Chris Fusco and Abdon M. Pallasch, of The Chicago Sun-Times, reported:

Who is Bill Ayers?

2008 CAMPAIGN | Former radical or respected prof, he's a liability if Obama's nominated, Hillary warns

April 18, 2008

Bill Ayers went underground again Thursday.

But this time, it was to avoid a political maelstrom, not the FBI.

Today, Ayers and his wife -- fellow former Weather Underground fugitive Bernardine Dohrn -- live in Hyde Park, where they moved after surrendering in 1980. Federal charges against the two were dropped because of improper surveillance, so they avoided prison.

Ayers and Dohrn have raised two sons of their own and adopted a third boy whose parents were Weather Underground members who went to prison. They've built stellar reputations as professors: Dohrn at Northwestern's law school, Ayers as an education professor at the University of Illinois at Chicago.

Along the way, they met a rising political star named Barack Obama, who lived in their neighborhood.

The Ayers-Obama relationship became a hot topic in Wednesday's Democratic presidential debate. It is "an issue certainly Republicans will be raising" should Obama be the Democratic nominee for president, Obama rival Hillary Clinton said.

In the mid-1990s, Ayers and Dohrn hosted a meet-and-greet at their house to introduce Obama to their neighbors during his first run for the Illinois Senate. In 2001, Ayers contributed $200 to Obama's campaign. Ayers also served alongside Obama between December 1999 and December 2002 on the board of the not-for-profit Woods Fund of Chicago. That board met four times a year, and members would see each other at occasional dinners the group hosted.

Reached by the Sun-Times on her cell phone, Dohrn declined to comment. Ayers, who was traveling, did not return messages.

But friends like Chicago political strategist Marilyn Katz said Ayers should not be a campaign issue.

Katz met Ayers when he was 17 and they were members of Students for a Democratic Society, a peaceful group from which the Weather Underground splintered. She noted Ayers' work with Mayor Daley to overhaul the Chicago Public Schools and likened him to Black Panther-turned-U.S. Rep. Bobby Rush.

"What Bill Ayers and Bobby Rush ... did 40 years ago has nothing to do with" the presidential campaign, Katz said. Ayers "has a national reputation. He lectures at Harvard and Vassar. He writes the textbooks that are the standard for innovative approaches to reaching inner-city youth."

Ayers, a Glen Ellyn native who became active in SDS while attending the University of Michigan, is the son of late Commonwealth Edison CEO Thomas G. Ayers. Ayers has praised his dad for standing by him while he was on the lam.

A book Ayers penned about those years, Fugitive Days, landed him in hot water on Sept. 11, 2001. That morning, the New York Times ran a story about the book in which Ayers said, "I don't regret setting bombs. I feel we didn't do enough." Ayers' statement was made before the World Trade Center attacks, but its timing led some to believe it was in response. "My book is in fact a condemnation of terrorism in all its forms -- individual, group and official," Ayers later said in a letter to the Chicago Tribune.

Ayers has a Web site, billayers.org, in which he blogs about politics and other subjects. He lets friends and foes post comments.

In response to an Ayers posting, "End the War," a reader wrote, "You are an anti-American communist and a terrorist. I hope you get what you deserve over and over and over."

Ayers has not formally endorsed Obama for president.

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Matt Lauer takes it to Obama, good for him

Interesting, minutes after McCain said that he was against the AIG bailout, Joe Biden mirrored that opinion.
 
Obama says that Joe should has waited before expressing his opinion on the issue.
 
In an interview with Matt Lauer, Matt takes it to Obama, when he was trying to accumulate points by criticizing McCain for flip flopping on AIG, while his own running mate held a similar position.
 
Lauer asked: "But it's the kind of thing that drives people crazy about politics," Lauer said. "It sounds like you were trying to score some political points against John McCain using his words, when your own running mate had used very similar words."
 
Obama's answer tried to make it look like McCain just all of a sudden changed his position after 26 years in Congress, failing to point out that McCain has being attempting to stop fraud in the housing industry since he added his name to a failed bill in 2003, that is five years ago, while Obama has being in the Senate for four years, and has done absolutely nothing for the economy. Now, he is talking.
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Is Obama slipping?

He draws 6000 people in Green Bay Wins. Last week, McCain-Palin draw 10,000.
 
Here is the evidence:
 

Uncharacteristically low turnout for Barack Obama rally in Green Bay, Wisc.

McCain/Palin drew 4,000 more supporters at same venue a week ago

September 23, 2008

GREEN BAY, Wis. — Hoping to shore up support in his suddenly undependable backyard, Democratic presidential nominee Barack Obama flew here Monday to talk about how he’d handle economic crises as president.

Recent polls have shown that Wisconsin — once pretty solidly in Obama’s column — is now a statistical dead heat between Obama and Republican John McCain.

“You all know that you hold this election in your hands,” Sen. Russ Feingold, a Democrat who said he worked on ethics legislation with Obama, told a crowd of about 6,000 cheering Obama fans in the arena next to Lambeau Field. “We just barely won this state for Al Gore in 2000 and we just barely won this state for John Kerry in 2004.”

The numbers in Wisconsin and Minnesota are getting close enough that the Obama campaign closed its 11 campaign offices in North Dakota and moved the 50 staffers there to these two states.

Just a week ago, John McCain and his vice-presidential nominee Sarah Palin — who can bring out crowds the way Obama can — appeared in this same stadium, Resch Center, to a crowd of 10,000 fans. There were an uncharacteristic amount of empty orange seats for Obama’s rally.

In their defense, Obama's backers note their rally was held on Monday at noon, compared to a Thursday night rally for McCain and Palin.

After a watershed week of collapse on Wall Street, Obama focused his speech here on the excesses of Wall Street CEOs and the failure of Washington politicians — especially McCain — to rein them in.

“When it comes to regulatory reform, Sen. McCain has fought time and time again against the common-sense rules of the road that could’ve prevented this crisis,” Obama said. “His economic plan was written by Phil Gramm, the architect in the U.S. Senate of the deregulatory steps that helped cause this mess.”

The audience booed Gramm’s name, as they did McCain’s and Palin’s.

Obama laid out what he called a series of reforms that the McCain campaign later complained were still short on specifics.

“When there is a bill that ends up on my desk as president, you will have five days to look online and find out what’s in it before I sign it,” Obama said. “When there are meetings between lobbyists and a government agency, we will put as many as possible online for every American to watch. When there is a tax bill being debated in Congress, you will know the names of the corporations that would benefit and how much money they would get. And we will put every corporate tax break and every pork-barrel project online for every American to see. You will know who asked for them and you can cast your vote accordingly.”

Obama offered broader guidelines on the Wall Street reforms, saying that if companies were in a position to borrow money from the government, they needed to open their books to the government.

But the McCain campaign said in an e-mail to reporters, “Three days after John McCain laid out a specific plan to address the crisis on Wall Street, Barack Obama provided no discernable plan for the banking crisis.”

Obama played to the Green Bay crowd by commiserating with them about Sunday’s losses for the Green Bay Packers and the Chicago Bears.

“Let’s get this out of the way: I’m sorry about last night but I’ll tell you what, the Bears are 1-2, so I’ll tell you what, we’re having a tougher time.” As the crowd cheered, Obama said, “This is probably the biggest cheer that a Bears fan has ever gotten from cheeseheads.”

Obama told the crowd he needed them to win.

“Change has always come from places like Wisconsin,” Obama said to more cheers. “The state where the progressive movement was born; where laws were passed to regulate the railroads and insurance companies, laws that protected consumers and the safety of factory workers. It was a movement rooted in a principle that was known as the Wisconsin Idea — the idea that government works best in the hands of the people, not the special interests, that your voices should speak louder than the whispers of lobbyists.”

Obama volunteers implored the audience to text in their cell phone numbers and be prepared to work.

“We need all of you to take off election day to volunteer to get out the vote,” organizer Dan Phillips said. “Volunteer for at least one hour or spend four years regretting that you did not.”

Plenty of residents of Illinois —- where polls show Obama comfortably ahead — are being encouraged to cross the border and join get-out-the-vote efforts in Wisconsin.

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11 Yr Old suspended for Anti Obama tshirt

An 11 years old was given the option of wearing red, white, and blue to school, in order to show his patriotism. He did, and got suspended for it.

He wore a self made white T shirt with the slogan: "Obama; a terrorist's best friend."
He was given the option of changing his shirt, turning it inside out, or getting suspended; he elected suspension. His dad says that hey will sue.
 
The schools version is that he got suspended for insubordination. This happended in Aurora, a liberal hot bed.

Here is the article:

 

Elementary Student Suspended For Anti-Obama Shirt
Aurora fifth-grader suspended for home madetshirt reading "Obama is a terrorist's best friend." 9/22/08

AURORA (MyFOXColorado.com) - An 11-year-old in Aurora says his first amendment rights are being trampled after he was suspended for wearing a homemade shirt that reads "Obama is a terrorist's best friend."

The sixth grader at Aurora Frontier K-8 School wore it on a day when students were asked to wear red, white and blue to show their patriotism.

The boy's father Dann Dalton describes himself as a "proud conservative" who has taken part in some controversial anti-abortion protests. Dalton says the school made a major mistake by suspending his son for wearing the shirt.

"It's the public school system," Dalton says. "Let's be honest, it's full of liberal loons."

According the the boy's father, the school district told the student, Daxx Dalton, that he had the choice of changing his shirt, turning his shirt inside out or being suspended.

Daxx chose suspension.

"They're taking away my right of freedom of speech," he says. "If I have the right to wear this shirt I'm going to use it. And if the only way to use it is get suspended, then I'm going to get suspended."

Daxx's dad agrees with him and is encouraging his son to stand his ground.  "The facts are his rights were violated. Period."

Aurora Public Schools would not talk about the case but said the district "Respects a student's right to free speech, such as the right to wear specific clothing," but administrators say they review any situation that interrupts the learning environment.

Paperwork submitted by the school district says Daxx Dalton was not suspended for wearing the shirt, but for willful disobedience and defiance.

The boy's father says he intends to pursue a lawsuit against the district.
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Obama's extremist pressure tactics get Palin disinvited

CBS reports how Democrats (Obama Suporters) threatened Jewish groups Tax Exempt status in order to get Sarah Palin disinvited from the rally against Ahmadinejad.
 
Here is the article:
 

Sources: Intense Pressure Led To Palin UN Snub

CBS 2 HD Has Learned Democrats Threatened To Attack Jewish Groups' Tax Exempt Status Over VP Nominee Invite

 Campaign '08 Complete Coverage

 About The Candidates & Issues

NEW YORK (CBS) ?  Hillary Clinton won't be speaking at Monday's anti-Iran rally at the United Nations -- and neither will Republican Sarah Palin or any other politicians for that matter.

The reason? A heated behind the scenes tug-of-war.

Sources tell CBS 2 HD that a decision to disinvite Palin from the high profile rally after Clinton pulled out in a huff came as the result of intense pressure from Democrats.

"This is insulting. This is embarrassing, especially to Gov. Palin, to me and I think it should be to every single New Yorker," Assemblyman Dov Hikind, D-Brooklyn, told CBS 2 HD.

Sources say the axes were out for Palin as soon as Sen. Clinton pulled out because she did not want to attend the same event as the Republican vice presidential candidate.

"I have never seen such raw emotion -- on both sides," said someone close to the situation.

The groups sponsoring the rally against Iranian President Mahmoud Ahmadinejad speaking at the UN were reportedly told, "it could jeopardize their tax exempt status" if they had Palin and not Clinton or Democratic VP candidate Joe Biden on hand.

So all politicians were disinvited, most prominently, Palin.

"It's an absolute shame that this has happened," Hikind said. "To threaten organizations … to threaten the Conference of Presidents that if you don't withdraw the invitation to Gov. Palin we're going to look into your tax exempt status … that's McCarthyism."

Another Jewish group tried to step into the breach by inviting Palin to a different protest a day earlier.

"I'm absolutely appalled at the behavior of the Democrats," said Bob Kunst of Defenders.net. "I'm a Democrat and for the first time in my life I'm going to vote Republican. I can't take it anymore."

As for Sen. Clinton, she brushed right past CBS 2 HD's Lou Young when he tried to ask her about the issue on Thursday night.

Lou Young: "Were the organizers of Monday's rally right to depoliticize it?"

Clinton walked past Young, said "Thank you all very much" and started hugging people.

Clinton's people tell CBS 2 HD she intends to make some statement of support for the protestors. She is also expected to attack Ahmadinejad's pro-nuke, anti-Israel stance.
 
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Protest against Ahmadinejad and Obama

Protestors made it clear on Sept. 22 the omission of GOP VP nominee Sarah Palin from the
 
WCBS reported the anger of the Anti Iranian President protesters. They clearly understood that Sarah Palin's presence would have brought another 10 or 20,000 people, and they also stated how important would have being for everybody to see Republicans and Democrats together against the villain of the 21st century.
 
Rumors abound that Democrats threatened to have the organizers investigated by the Internal Revenue Service if they did not revoke Palin's invitation.
 
 
 
Here is the report by Marcia Kramer:
 

Anti-Iran Rally Turns Into Anti-Obama Rally

Jewish Groups Furious That Protest Against Ahmadinejad Was, At Times, A Pro-Palin, Bash-The-Dems Affair

NEW YORK (CBS) ? Politics and diplomacy were not a good mix at Monday's protest rally against Iran at the United Nations.

Hillary Clinton and Sarah Palin didn't participate in the "Stop Iran Now" rally and there were a lot of hard feelings about it.

It was a simple sign that read "We Want Sarah. Shame On The Rally Organizer."

Howard Webber from Brooklyn held it.

"As important an event as this is, you needed a unity of Democrats and Republicans to show Ahmadinejad that we're not going to accept a nuclear Iran." 

Buddy Macy of Little Fells, N.J., felt much the same way.

"I'm so disappointed, upset," Macy said. "She would have brought 10,000-20,000 more supporters of Israel. People who were curious were stopped because of partisan action."

The brouhaha started after Clinton pulled out after she learned Palin was invited. Three organizations supporting the rally threatened to pull out unless Palin was disinvited. She was but organizers didn't stop there.

They were furious Monday about the political signs brought by some at the rally, like an anti-Obama sign that said, "Jews Against Obama & Ahmadinejad."

"I am upset by the sign because this is a non-political event," said Janice Shorenstein, president of the Jewish Community Relations Council. "We are here today to cry out against Mahmoud Ahmadinejad, not political. American elections are not part of this event."

Congressman Anthony Wiener disagreed.

"I think this is a classic political event in the best sense of the word. Politicians from all corners come here to speak out against Iran," Wiener said. "I think it would have been fine for Sarah to speak. We just needed someone of equal stature from the Obama campaign to speak."

The question is what are the political repercussions not to have politicians speak at the rally?

"Republicans benefitted more than the Democrats did," political consultant Hank Sheinkopf said. "Why? Sarah Palin wanted to be there, but it looks like she was purposely told not to and rejected. It gives her standing, particularly among those people who are thinking about voting Republican anyway."

Both Clinton and Palin tried to make political hay anyway. Clinton released a statement. Palin released the speech she would have given. She will be in New York on Monday and Tuesday to meet with world leaders. Republicans hopes that helps boost her foreign policy credentials.

With the General Assembly now in session, avoid the East Side if you can. There will be the usual traffic troubles all week.

Streets will be closed at different times, anywhere from the FDR to Madison Avenue, between 42nd and 57th streets.
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Anti Iran Rally and Palin's message

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Democrats created this financial crisis

Here is a clear explanation of why we are in the economical mess that we are here in the United States.
 
The bottom line: partisan politics. In 2003, McCain added his name to a bill that would regulated Freddie Mac and Fannie Mae. PArtisan Politics let it die.
 
One of Obama's primary economic advisors, Franklin Raines, he only got almost $100 million dollars from Fannie and Freddie, was in charge of "cooking the books". Still, he received his golden parachute (a golden parachute is an economics term assigned to a prenegociated bonus to be paid upon retirement, or when services were no longer needed).
 
Throw in Barney Frank who forced Freddie and Fannie to give out worthless loans, and the rest of the choir of fools in Congress and the Senate, and voila...
 
Here is the story from Bloomberg:
 


 

How the Democrats Created the Financial Crisis: Kevin Hassett

Commentary by Kevin Hassett

Sept. 22 (Bloomberg) -- The financial crisis of the past year has provided a number of surprising twists and turns, and from Bear Stearns Cos. to American International Group Inc., ambiguity has been a big part of the story.

Why did Bear Stearns fail, and how does that relate to AIG? It all seems so complex.

But really, it isn't. Enough cards on this table have been turned over that the story is now clear. The economic history books will describe this episode in simple and understandable terms: Fannie Mae and Freddie Mac exploded, and many bystanders were injured in the blast, some fatally.

Fannie and Freddie did this by becoming a key enabler of the mortgage crisis. They fueled Wall Street's efforts to securitize subprime loans by becoming the primary customer of all AAA-rated subprime-mortgage pools. In addition, they held an enormous portfolio of mortgages themselves.

In the times that Fannie and Freddie couldn't make the market, they became the market. Over the years, it added up to an enormous obligation. As of last June, Fannie alone owned or guaranteed more than $388 billion in high-risk mortgage investments. Their large presence created an environment within which even mortgage-backed securities assembled by others could find a ready home.

The problem was that the trillions of dollars in play were only low-risk investments if real estate prices continued to rise. Once they began to fall, the entire house of cards came down with them.

Turning Point

Take away Fannie and Freddie, or regulate them more wisely, and it's hard to imagine how these highly liquid markets would ever have emerged. This whole mess would never have happened.

It is easy to identify the historical turning point that marked the beginning of the end.

Back in 2005, Fannie and Freddie were, after years of dominating Washington, on the ropes. They were enmeshed in accounting scandals that led to turnover at the top. At one telling moment in late 2004, captured in an article by my American Enterprise Institute colleague Peter Wallison, the Securities and Exchange Comiission's chief accountant told disgraced Fannie Mae chief Franklin Raines that Fannie's position on the relevant accounting issue was not even ``on the page'' of allowable interpretations.

Then legislative momentum emerged for an attempt to create a ``world-class regulator'' that would oversee the pair more like banks, imposing strict requirements on their ability to take excessive risks. Politicians who previously had associated themselves proudly with the two accounting miscreants were less eager to be associated with them. The time was ripe.

Greenspan's Warning

The clear gravity of the situation pushed the legislation forward. Some might say the current mess couldn't be foreseen, yet in 2005 Alan Greenspan told Congress how urgent it was for it to act in the clearest possible terms: If Fannie and Freddie ``continue to grow, continue to have the low capital that they have, continue to engage in the dynamic hedging of their portfolios, which they need to do for interest rate risk aversion, they potentially create ever-growing potential systemic risk down the road,'' he said. ``We are placing the total financial system of the future at a substantial risk.''

What happened next was extraordinary. For the first time in history, a serious Fannie and Freddie reform bill was passed by the Senate Banking Committee. The bill gave a regulator power to crack down, and would have required the companies to eliminate their investments in risky assets.

Different World

If that bill had become law, then the world today would be different. In 2005, 2006 and 2007, a blizzard of terrible mortgage paper fluttered out of the Fannie and Freddie clouds, burying many of our oldest and most venerable institutions. Without their checkbooks keeping the market liquid and buying up excess supply, the market would likely have not existed.

But the bill didn't become law, for a simple reason: Democrats opposed it on a party-line vote in the committee, signaling that this would be a partisan issue. Republicans, tied in knots by the tight Democratic opposition, couldn't even get the Senate to vote on the matter.

That such a reckless political stand could have been taken by the Democrats was obscene even then. Wallison wrote at the time: ``It is a classic case of socializing the risk while privatizing the profit. The Democrats and the few Republicans who oppose portfolio limitations could not possibly do so if their constituents understood what they were doing.''

Mounds of Materials

Now that the collapse has occurred, the roadblock built by Senate Democrats in 2005 is unforgivable. Many who opposed the bill doubtlessly did so for honorable reasons. Fannie and Freddie provided mounds of materials defending their practices. Perhaps some found their propaganda convincing.

But we now know that many of the senators who protected Fannie and Freddie, including Barack Obama, Hillary Clinton and Christopher Dodd, have received mind-boggling levels of financial support from them over the years.

Throughout his political career, Obama has gotten more than $125,000 in campaign contributions from employees and political action committees of Fannie Mae and Freddie Mac, second only to Dodd, the Senate Banking Committee chairman, who received more than $165,000.

Clinton, the 12th-ranked recipient of Fannie and Freddie PAC and employee contributions, has received more than $75,000 from the two enterprises and their employees. The private profit found its way back to the senators who killed the fix.

There has been a lot of talk about who is to blame for this crisis. A look back at the story of 2005 makes the answer pretty clear.

Oh, and there is one little footnote to the story that's worth keeping in mind while Democrats point fingers between now and Nov. 4: Senator John McCain was one of the three cosponsors of S.190, the bill that would have averted this mess.

(Kevin Hassett, director of economic-policy studies at the American Enterprise Institute, is a Bloomberg News columnist. He is an adviser to Republican Senator John McCain of Arizona in the 2008 presidential election. The opinions expressed are his own.)

To contact the writer of this column: Kevin Hassett at khassett@aei.org

Last Updated: September 22, 2008 00:04 EDT

 



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