A little insight into tonight's fight

Look for McCain to lay the financial failure and Wall Street Bailout at the feet of the house Dems. House Financial Services Committee Chairman Barney Frank and Senate Banking Committee Chairman Christopher Dodd may avoid a direct mention but, look for Speaker Pulosi to get thrown under the bus for not allowing a McCain led piece of regulatory legislation to be brought to the the floor. For your edification I looked up this wonderful piece of regulatory legislation that actually seeks to remove what little lending institution oversight was left after Phil Graham's rape and pillaging.

1/26/2005--Introduced.
Federal Housing Enterprise Regulatory Reform Act of 2005 - Amends the Federal Housing Enterprises Financial Safety and Soundness Act of 1992 to establish: (1) in lieu of the Office of Federal Housing Enterprise Oversight of the Department of Housing and Urban Development (HUD), an independent Federal Housing Enterprise Regulatory Agency which shall have authority over the Federal Home Loan Bank Finance Corporation, the Federal Home Loan Banks, the Federal National Mortgage Association (Fannie Mae), and the Federal Home Loan Mortgage Corporation (Freddie Mac); and (2) the Federal Housing Enterprise Board.
Sets forth operating, administrative, and regulatory provisions of the Agency, including provisions respecting: (1) assessment authority; (2) authority to limit nonmission-related assets; (3) minimum and critical capital levels; (4) risk-based capital test; (5) capital classifications and undercapitalized enterprises; (6) enforcement actions and penalties; (7) golden parachutes; and (8) reporting.
Amends the Federal Home Loan Bank Act to establish the Federal Home Loan Bank Finance Corporation. Transfers the functions of the Office of Finance of the Federal Home Loan Banks to such Corporation. (Pay close attention to the next two lines.)
Excludes the Federal Home Loan Banks from certain securities reporting requirements.
(The mission of the FHLBanks reflects a public purpose - increase access to housing and aid communities by extending credit to member financial institutions.)

Abolishes the Federal Housing Finance Board. (The Federal Housing Finance Board regulates the 12 FHLBanks that were created in 1932 to improve the supply of funds to local lenders that, in turn, finance loans for home mortgages. The board also has regulatory authority and supervisory oversight responsibility for the Office of Finance. )

I hope Obama or some town hall questioner asks McCain about the level of intolerance and violent racial epithets being shouted at the GOP rallies. Both McCain and Palin have neglected to condemn or redirect such angry utterances. (I've personally watched Obama scold one of his rally enthusiasts for an insulting comment about his opponent. That's class. The GOP rallies are now full of crowds that shout at the press who are covering the event. Treating the press as the enemy of their candidates. Blaming them for Palin's lack of knowledge and McCain's continuous changing of position. Protecting Palin from one on one question and answer opportunities. McCain is inciting his supporters so much so that they're shouting "terrorist!" and "Kill him!" Recently Palin supporters shouted, "Nigger!" and "Sit down boy!" to a news organization's sound technician. As election day grows nearer I fear more and more for Obama's safety. The McCain camp is out of ideas, they are resulting to the lowest common denominators . . . Anger and Racism. This is very disconcerting on many levels: Primarily we as a country are growing increasingly anxious and angry. Inflation on the rise, job losses, 850 billion dollar heist, and the stock market crash. People's retirement savings greatly diminished. When McCain gets angry tonight, he will be identifying with main street America. He, (McCain) will embody the average American psyche. If Obama stays true to form, his calm demeanor may work against him here. Rather than being seen as a thoughtful leader he may come off as dis compassionate egg head.
Obama's in a catch 22 here: If he pulls out all the stops . . . come out guns a blazin' . . .points out and identifies the hate mongering B.S. the GOP is perpetuating, he risks being seen as an angry black man. That would play right into the GOP's game plan of painting Obama as a "dangerous terrorist".

DaG out