John McCain knew that Fanny Mae and Freddy Mac would collapse, and thereby unjustly burden the American public!
In 2005, Senator John McCain cosponsored the Federal Housing Enterprise Reform Act to regulate the powers and procedures of Fanny Mae and Freddie Mac.
These 2 massive federal finance agencies had been operating without controls in a blatant irresponsible manner, and had been found guilty in court of falsifying financial records and statements in order to provide supposed justification for bonuses to be given to their higher echelon administrators.
These 2 organizations had been coerced by Democrats, who because of political opportunism, wanted them to grant mortgages to individuals who would be unable to make their required monthly payments. That would be in accordance with the irresponsible Democrat belief that everyone should be entitled to have their own home, irrespective of their actual ability to afford that luxury.
Both of these mortgage lending institutions have contributed massive financial sums to support the political aspirations of Chris Dodd and Barack Obama.
Senator John McCain realized 3 years ago that fraudulent transactions were rampant within these 2 enterprises, and that they would soon collapse if remedial action was not undertaken. Their bankruptcy would result in the American taxpayers having to go into debt to resurrect or ???bail-out??? these fraudulent Congress protected entities.
As was to be expected, this proposal to institute meaningful financial reform measures was obstructed by the Democrats in the Senate, and the proposal failed to be adopted.
This year, due to the Democrat furor over the collapse of Fanny Mae and Freddie Mac, the American taxpayers are burdened by having to pay a minimum of 450 billion dollars to ???bail out??? these 2 recklessly managed lending companies.
John McCain exposed and opposed the corrupt lending practices of Fanny Mae and Freddie Mac. Barack Obama ???milked the system??? and profited by obstructing reform of their corrupt lending practices.
Democrats have demonstrated that they can wreck the mortgage industry.
Are you willing to vote them into office, and give them a blank check to mismanage the American economy, security, and health care?









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