Sunday, October 5, 2008

Response to video - part deux.....


As I am delving deeper into all of this I'm learning quite a bit. I want to make yet another point about the CRA when it comes to Clinton's involvement with it in the 90's - all that Clinton did to the CRA was require that only numerical data be utilized when getting a CRA rating. That's it.

Ok, back to the video. It likes to claim it is being banned because of its political message...sigh...This just tires me - kinda like that Illuminati, Freemason,
CNN logo thing
from a couple of months back. From what I can gather, the video was removed for COPYRIGHT issues. The internet is ripe with copyright infringement. I know this first hand (I'm also the copyright agent at work - yet another hat). And I have been accused of stepping all over someone's right to free speech because they've blatantly stolen and used someone elses work without permission or credit...sigh..


Now on to McCain's "co-sponsorship" of the bill that was to have helped. The bill they are referring to is S190:

Some people have actually claimed that the present crisis would have been averted if “McCain’s bill” had passed. We have to stop right there. McCain did not even believe that the scope of the bill could have such an effect when he endorsed it. The bill was written in response to an accounting scandal that rocked Freddie Mack and Fannie Mae. In the best of all circumstances the bill would have helped avert (this is hotly contested) the bailout of Fannie Mae and Freddie Mack, but that had happened before the current crisis.

"In his speech in which he announced his sponsorship a year and a quarter after the bill was introduced, he said:

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.

He does in his concluding sentence allude to problems for the economy if effective regulations are not implemented but this was not the focus of the speech at all." (taken from: http://northwestlaw.wordpress.com/2008/09/30/s-190-it-has-attained-myth-status/).

So again, the video is wrong and misleading. This kind of inflammatory rhetoric is getting old...

Ok, moving on...

That Obama received monies from Fannie Mae is wrong. "On the Freddie and Fannie question, it as McCain said: Obama is No. 2 on the list, with $126,349, right after Sen. Chris Dodd, D-Conn., chairman of the Senate Banking Committee, who had $165,400.

Corporations cannot give to candidates, so the center's list adds up contributions from Fannie and Freddie employees and their families. Obama has received a lot of money during his presidential campaign, though, and Fannie and Freddie don't make his list of top 20 companies.

The New York Times looked at contributions from Fannie and Freddie's boards of directors and lobbyists, who are technically not employees. That analysis found Fannie and Freddie-related contributors gave $169,000 to John McCain and his related committees, compared with $16,000 to Obama and his related committees."
(taken from: http://www.politifact.com/truth-o-meter/statements/727/).

So more bull....anyone tired of this yet? I know I am....

And then the video goes into education and inner city schools? Ummm...And it appears to only be to bash Obama - which is where it really started getting bad. I'm sorry, stick to your guns and back up your points, don't try to shift the topic (sound like a Palin move anyone????) and ENERGY divert ENERGY from ENERGY the ENERGY subject at hand....

Then it tries to go back to blaming the CRA - which we have already established is not to blame...sigh....At about 9 minutes the video starts to go sappy on me and I have to pause it. Early on I shut the music off as it was just annoying...And then as it goes on to promote McSame it encourages people to SPAM a link to it. Now that REALLY PISSES me off. LMAO. I get so worked up about spam in any form. Had I seen that from the beginning I wouldn't have been able to watch it all the way through!!

Sources:

http://womeninbusiness.about.com/od/womenspolitics/a/cra-lie-truths.htm

http://www.dailykos.com/story/2008/10/3/191631/869


http://boards.fool.com/Message.asp?mid=27045007



http://www.americanprogress.org/issues/2008/09/cra.html


http://northwestlaw.wordpress.com/2008/09/30/s-190-it-has-attained-myth-status/

http://www.politifact.com/truth-o-meter/statements/727/