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Posted by: tchef 1 year, 2 months ago

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tchef1 year, 2 months ago

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Bush and the Republicans had total control, if they really saw a problem they could have done something about it. They didn't want to. They needed the housing market to hold up the economy. Two Democrats couldn't have stopped them.

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    lfergie8121 year, 2 months ago
    
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    You're right, McCain and his advisers Rick Davis and Phil Gramm were right in the middle of it with Phil Gramm ramrodding the deregulation bill in 1999. .
    "The chairman of the Senate Banking Committee, Texas Republican Phil Gramm, himself collected more than $1.5 million in cash from the three industries during the last five years: $496,610 from the insurance industry, $760,404 from the securities industry and $407,956 from banks."
    
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    BB641 year, 2 months ago
    
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    Well the biggest contributions didn't go their way, see below:
    
    http://latimesblogs.latimes.com/washington/2008/09...
    
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      lfergie8121 year, 2 months ago
      
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      BB64, thanks
      FTA "Republican nominee John McCain has taken $16,400 from Freddie and Fannie employees since 2005. But the groups have had an in with him. McCain campaign manager Rick Davis is past president of the Homeownership Alliance, an advocacy group whose members included Freddie and Fannie. In that role, he defended them against increased regulation."
      So much for McCain's claim of being against deregulation with advisers like Davis.
      FTA "But Obama is the recipient of the largest individual money, at $111,849, according to federal campaign finance reports compiled by Times researcher Maloy Moore.
      
      One reason Obama has raised the most from the entities is that he has out-raised all other candidates, $390 million so far and counting.
      
      The mortgage money has not influenced Obama's stands, Ben Labolt, a campaign aide asserted."
      "The candidate has “consistently supported stepped-up regulation for Fannie Mae and Freddie Mac to ensure that instead of....
      ...rewarding speculators who relied on the government to reap massive profits, taxpayers and struggling homeowners are protected,” Labolt said.
      That shows that the employees of these institutions like Obama best but to not expect any favors from the donations because .he is fighting for more regulations.
      
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