GayPatriot

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On Financial Crisis
Obama Plays Blame Game; McCain Offers Solutions

by

To find proof that Obama’s slogan of a new kind of politics is just a slogan, all you need do is listen to his rhetoric this past week.  His claims of postpartisanship are empty.  His has no record of standing up to entrenched interests in Washington or even proposing significant reforms. Â

Yesterday, he claimed that earlier in the day “Sen. McCain gave a speech in which his big solution to this worldwide economic crisis was to blame me for it.”Â

If Obama had bothered to read the speech, he would have learned that the Arizona Republican first mentioned his own work in the Senate, noting that he had “called for reform of this corruption at Fannie Mae and Freddie Mac” while Congress and the Administration “did nothing.”

They weren’t the only ones to sit silently by. Senator Obama also “did nothing, and actually profited from this system of abuse and scandal.”  That is, the Republican nominee spread the blame around:

We’ve heard a lot of words from Senator Obama over the course of this campaign. But maybe just this once he could spare us the lectures, and admit to his own poor judgment in contributing to these problems. The crisis on Wall Street started in the Washington culture of lobbying and influence peddling, and he was square in the middle of it.

After identifying Senator Obama as part of the problem, McCain spelled out what he’d do if elected.

In that speech, he did more than just blame Senator Obama, he put forward concrete proposals.  The Democrat meanwhile has failed to “present any detailed proposal of his own for how to resolve the monetary situation that has roiled world markets in recent days” (H/t Instapundit).

I conclude with a question for Senator Obama (and his supporters is this):  Was John McCain wrong to say you’ve done nothing?  If so, please let us know what proposals to reform our nation’s financial sector you have put forward during your tenure in the United State Senate?

UPDATE:  Now, we’ve got do-nothing Senator Obama misrepresenting McCain’s record on reform: “He has consistently opposed the sorts of commonsense regulations that might have lessened the current crisis.”  As the author of the article noting that distortion puts it, “Why that’s wrong.”  Meanwhile, the Democratic nominee says, he “was warning about the danger ahead on Wall Street months ago.”  Fine, Senator, but did you do anything more than reform?  You were in the Senate.  Did you propose legislation to address the issue?  Did you even promote a bill one of your colleagues had introduced?  (H/t Jennifer Rubin).

Comments

  1. Typical of the self-obsessed liberal boomer that he is, Obama thinks McCain is *always* talking about him.

    Saw this, Sarah Palin as America’s Princess Diana. Diana’s achievements were as follows: she married a prince and she dressed fashionably. Sarah Palin is a woman of substance, who found success on her own merits, raised one hell of a family, hunts, fishes… she’s a stand up dame. I think the American comes out ahead, here.

  2. Put me down as pessimistic.

    The drive to hand out mortgages to damn near anyone has “bipartisan” written all over it. The profits were privatized while the risk was socialized.

    Now, Bush is proposing to use more tax money to bail out Wall Street and “investors”. The people that got out in time made big bucks; those that didn’t now get bailed out with my money. Should I expect stock certificates in the mail?

    McCain was right to point out the risk at Fannie and Freddie some years ago but I fully count on him (or Barry) to keep on writing the checks.

    I am certain that the big brass at Fannie, AIG, and all the rest will live out the rest of their lives in comfortable retirement (yachts, jets, estates) while the rest of us pay the bill.

    It’s a scam: politicians spend tax money (some of which is yet to be paid by future taxpayers) to create the illusion of prosperity. As long as the balls stay in the air, all seems well. When someone drops a ball… well, you get trillions of dollars in new obligations and, well, the rest remains to be seen.

  4. There really is no practical solution to this crisis. Everything that occurred last week was a fait accompli for the last five years. So was the idea of a government-funded resolution trust being created to buy all these worthless debt instruments. (I think the term resurrection trust is more apt.) It also is an accomplished fact that this whole situation will lead to a new structure of the international financial system equally as monumental as the Bretton Woods accords. Neither Obama nor McCain can offer any real solutions to “fix” the problem because none exist. The American and global economy must simply endure the consequences over both the short and long term. Any proffered “solution” will only redistribute, delay, or prolong the consequences.

  5. “I conclude with a question for Senator Obama (and his supporters is this): Was John McCain wrong to say you’ve done nothing?”

    Good luck.

    I’m still waiting to hear what it is that Bush supposedly lied about.

    And still wondering what Obama has accomplished in his long years of service.

    Facts aren’t relevant, apparently.

    And the bestest trick of all is to leap out in front, accusing your opponent (falsely) of doing exactly the things you’re doing. Irritating as Hell.

  9. #6

    Why not run an ad pointing out that Comrade Obama will maintain the status quo and let Socialist Stupidity implode leaving folks with nothing? Even if Obama’s ad were true, half would be better than diddly squat.

    Worse, when you only have a pot to piss in left, Comrade Obama will tax that.

  16. Heard an excellent point today…if there were any way at all to pin this on Republicans, the same Democrats who have launched 300 fruitless investigations against the Bush adminsitration would already be deep in the middle of very public hearings.

    They are responsible, they know it, thats why there is no investigation, and why Obama is mocking McCains call for a commission.

  18. Funny, but I seem to remember in 2003 the Bush Administration proposed tighter regulation of Fannie and Freddie which was viciously opposed by the democraps, especially Rep. Barney Frank. In 2005, I also recall that a certain Presidential Nominee, oh yeah, Sen. McCain, proposed an overhaul of the system, accurately stating that failure to take action then could lead to a market meltdown. Again the dems ho hummed the proposals and it died in Sen. Chris Dodd’s Banking Committee. The reason the Obamanation is such a pathological liar, is because he’s rarely if ever called on his false statements by the LMSM.
    It is to my regret and the regret of many McCain/Palin supporters that McCain is not laying any blame BY NAME, on Barney Frank, Chris Dodd, Nancy Pelousy and Harry Reid, for their obstructionist roles in this meltdown. McCain’s saying Chris Cox was to blame and should be fired without saying the same about these Congress members, is mystifying.

  19. “Chavez/Obama”????

    You people are just plain fucked in the head.

    But hey, thanks for selling the rest of us gays down the river just so you can have your wallets padded.

    How stupid can you be, opting for a sort of unilateral disarmament when it comes to equal rights? Society is not a free market.