So you know about the financial institution collapses that have been going on? Good, most people do. But if you start looking for answers and listening to many of the talking heads out there, BE CAREFUL … and pay attention to what they’re saying: that we need much heavier regulation. Sure, on the surface it sounds good (”hey, banks wouldn’t be allowed to let things get out of hand”), but so do all of the socialist talking points! Anyway, a certain person explains:
excerpt from David Frum’s Diary, 09/15 11:37 PM
To the extent that there are scandals in this crisis, they are not Wall Street scandals. They are Washington scandals - scandals in which there appear names of one Clinton-era appointee after another.
The press and the Democrats will want to present the crisis as a crisis of regulation v. deregulation. In fact, Fannie and Freddie represent exactly the kind of disastrous “public-private partnership” that Barack Obama has long advocated. - and if you think things are bad now, just wait till he gets to do for all of America what he did to Chicago.
The people who say we need MORE government intervention must be conveniently forgetting the fact that if the government hadn’t been involved in the first place, it never would have come to this. The goverment had no business supporting either bank. Just realize that the “regulations” that we need now would really involve shoving Freddie and Fannie out from under the protective umbrella of government, out into the real world, where you bear 100% of the consequences of your actions.
The people who advocate more regulations just show how unaware they are of what really went on. A select few government officials back in the day were wise enough to see trouble coming and not turn a blind eye to it … people like Peter Wallison and, you guessed it, John McCain. Yes, they knew about Fannie and Freddie’s “unusual vulnerabilities” and tried to warn people of the dangers surrounding those companies … but “few lawmakers would take action”, and “[o]ne of the reasons for this was the extraordinary power of Fannie and Freddie.” “Congress, as usual[,] knuckled under to the special interest.”
(Read the whole article.)
People, clearly this problem has been around for a while. I know of no better example, right now, of why our voices in Congress should not cater to the special interests. Why do we continue to elect those who do just that? And don’t get me wrong, this issue is on both sides of the aisle.
BE the voice of change against the establishment … MAKE YOUR VOTE COUNT. Elect senators and representatives who care not for special interests and are not afraid to make the changes we need.
Vote for McCain ‘08 and let’s get some real leadership in front of the reform effort.
Say “NObama” because we want someone who will make change happen … break with the status quo … and not use smokescreens of hope and change to mask political ideas that are nothing new at all … ideas that are “tried and failed”, as it were.
And believe me when I say it is possible to break with tradition and choose the candidate this country really needs.
I’ll leave you with one last thing:
excerpt from David Frum’s Diary, 09/17 11:36 AM
By contrast, Barack Obama was accepting Fannie’s political contributions - and inviting its former CEO to head his vice presidential selection contrast.