scottopic: (welcome to your last day on earth.)
[personal profile] scottopic
I was just interviewed on Broad Street by CNN asking who I thought could better serve The Economy between the two main candidates for president.

I said Obama by a long shot, and tried to hold back from ranting.
I think I was respectful, I recall using the phrases "game-changing" and "fresh ideas" and "same philosophy that got us into this mess."

At least I think I said philosophy. I might have said "shit."

Date: 2008-09-24 04:40 pm (UTC)
ineffabelle: (thingy medicine)
From: [personal profile] ineffabelle

Are you in NYC right now?

Date: 2008-09-24 04:44 pm (UTC)
From: [identity profile]
No, this was in Atlanta. CNN Center is easy walking distance.

Date: 2008-09-24 04:47 pm (UTC)
ineffabelle: (Default)
From: [personal profile] ineffabelle
Ahh, I saw Broad Street, that's where the NYSE is.

Date: 2008-09-24 04:51 pm (UTC)
From: [identity profile]
Hah! No this is the much more humble but more financially stable row of stall restaurants and panhandlers :)

Date: 2008-09-24 06:34 pm (UTC)

Date: 2008-09-25 02:42 am (UTC)
From: [identity profile]
I don't know about you, but collecting Rolexes like mushroom-picking is hellsa fun.

Date: 2008-09-24 05:43 pm (UTC)
From: [identity profile]
That's today's tough gritty investigative reporter for you, "Hey, what's within walking distance of our lunchtime coffee shop stop? We'll talk to them!"

Tim C.

Date: 2008-09-24 05:50 pm (UTC)
From: [identity profile]
Hey, I'm just as much a Man On The Street as anyone!

*frets* I should have taken off my sunglasses...

Date: 2008-09-24 04:44 pm (UTC)
From: [identity profile]
oh oh oh... do you have any idea when it will air? Or did it already? Glorious glorious 15 minutes!

Date: 2008-09-24 04:50 pm (UTC)
From: [identity profile]
No clue :)
I'm hoping someone will catch it!

Date: 2008-09-24 04:44 pm (UTC)
From: [identity profile]
Expect McCain attack ads to begin targeting you soon, to discredit your positions and credibility. I think your non-answer to the "post a picture of yourself" meme will come under particular scrutiny now. =)

Tim C.

Date: 2008-09-24 04:49 pm (UTC)
From: [identity profile]
I hope they respect my black babies :(

Date: 2008-09-24 06:47 pm (UTC)
From: [identity profile]
Aren't you a Muslim?

Date: 2008-09-24 07:05 pm (UTC)
From: [identity profile]
I bet if we scrutinize your travel over the past few years, we'll see all those side trips to the Middle East. You never posted those pics.

Date: 2008-09-24 06:05 pm (UTC)

Date: 2008-09-24 09:29 pm (UTC)
From: [identity profile]
You are a star!

Date: 2008-09-24 09:38 pm (UTC)
From: [identity profile]
If I were not sick of political quotes on Metaquotes, I would totally metaquote this. You are awesome. :)

Date: 2008-09-25 01:22 am (UTC)
From: [identity profile]
but... in 2005 mccain co-sponsored the Federal Housing Enterprise Regulatory Reform Act of 2005. This was his entry as he co-sponsored the bill:
Mr. President, this week Fannie Mae's regulator reported that the company's quarterly reports of profit growth over the past few years were "illusions deliberately and systematically created" by the company's senior management, which resulted in a $10.6 billion accounting scandal.

The Office of Federal Housing Enterprise Oversight's report goes on to say that Fannie Mae employees deliberately and intentionally manipulated financial reports to hit earnings targets in order to trigger bonuses for senior executives. In the case of Franklin Raines, Fannie Mae's former chief executive officer, OFHEO's report shows that over half of Mr. Raines' compensation for the 6 years through 2003 was directly tied to meeting earnings targets. The report of financial misconduct at Fannie Mae echoes the deeply troubling $5 billion profit restatement at Freddie Mac.

The OFHEO report also states that Fannie Mae used its political power to lobby Congress in an effort to interfere with the regulator's examination of the company's accounting problems. This report comes some weeks after Freddie Mac paid a record $3.8 million fine in a settlement with the Federal Election Commission and restated lobbying disclosure reports from 2004 to 2005. These are entities that have demonstrated over and over again that they are deeply in need of reform.

For years I have been concerned about the regulatory structure that governs Fannie Mae and Freddie Mac--known as Government-sponsored entities or GSEs--and the sheer magnitude of these companies and the role they play in the housing market. OFHEO's report this week does nothing to ease these concerns. In fact, the report does quite the contrary. OFHEO's report solidifies my view that the GSEs need to be reformed without delay.

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
--Sen. John McCain [R-AZ]

mccain saw what was coming, but unfortunately this bill languished and died in a committee headed at the time by democrats.

Date: 2008-09-25 01:35 am (UTC)
From: [identity profile]
And hey, that's great of him, sincerely. I don't say white if McCain says black. It's really a systemic approach that he and his party represent that are both abhorrent and culpable for much of this (that many Dems and the Clinton admin have hands in it as well).
I just find that entire side of the machine to be too corrupt and whatever plans they have too little to address the issues adequately, just like with the environment, civil liberties, health care and most other issues.


scottopic: (Default)

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