October 03, 2008
Debate, where Palin missed.
She basically missed the same opportunity McCain did, which was to lay the real blame for the financial crisis where it belongs. Stephen Spruiell at National Review says it better than I can:
For instance, when Biden blamed the mortgage meltdown on deregulation, Palin mouthed some platitudes about greed and predatory lenders. She should have responded that no financial players needed stronger regulation more than government-sponsored enterprises Fannie Mae and Freddie Mac, and that the Democrats consistently opposed any limitations on Fannie and Freddie's activities. She did point out that McCain called for greater oversight of the GSEs in 2005, but I would have liked her to have conveyed in stronger terms the extent to which the GSEs caused this crisis, and how the Democrats bear a lot of responsibility for that.
Ace of Spades has a theory on why they are holding back. I hope he's right but I doubt it.
John McCain is waiting until the bill passes.And then he will unleash the dogs of war.
And he will say, "I stayed away from making these partisan attacks, even though you lied ridiculously about me and your own attempts at 'reform.' I held back, because partisan attacks -- even truthful ones -- would harm our country and reduce the chances of getting a vital bill passed.
Posted by Henry Louis Gomez at October 3, 2008 12:58 AM
Comments
To Clinton's credit, he too asked for oversight and does not blame Republicans for this mess. He also says he was right in the deregulation of banks in 1999, which the left often uses as the cause of our current trouble, and he recognizes that the real trouble was that the government promised to back up Fannie and Freddie. It is not the deregulation that was the problem; it was the government gurantees.
But what I fail to understand, and I hope someone can explain to me, is the Republicans had the congress from 1994 on for some time, even when Bush began his push for oversight of these entities in 2002. Why was no oversight passed between 1994 and 2002? We can blame it on Maxine Waters and Barney Frank recently, but why did we not get it done then?
Posted by: honey ![[TypeKey Profile Page]](http://www.babalublog.com/nav-commenters.gif)
at October 3, 2008 06:35 AM
Honey, I've wondered about that myself. The only thing I can think of is that McCain's push for regulation, or anyone's for that matter, must not have been a popular position in either party.
What was all this Biden was talking about Obama sounding an alarm? Must've been a silent one b/c no one heard it.
Henry, I agree with you. I too was surprised that after McCain didn't push the issue, Sarah didn't either. I'd love to see them put this out there to set the record straight - but, I'd want them to put it in historic context.
This started in the late 70's and continued through four more administrations before it exploded in our face.
In addition, when Biden called McCain healthcare plan a Bridge to Nowhwere, Sarah should've retorted "but Joe, you voted for the bridge over diverting the money to Katrina rebuilding!"
Posted by: La Ventanita at October 3, 2008 08:38 AM
It was the Clinton administration that pushed Fannie/Freddie into the subprime market. A lot of it was done through executive order or simply changes to the rules in the bureaucracy without congressional legislation.
We know that after 2001 the Republican congress simply wasn't the same congress that it had been from 1994 up until that point. They hot fat and happy.
Bush spent all of his political capital on the war and frankly the Dems had enough numbers in the committees and the senate to block any meaningful reform.
Posted by: Henry Louis Gomez at October 3, 2008 09:05 AM
the VP debate was stunning. Palin did a decent job faking about 20% of the questions and didn't even bother answering the other 80%.
i couldn't help thinking of the end of the movie Billy Madison, when the debate moderator says to Adam Sandler, "Mr. Madison, what you've just said is one of the most insanely idiotic things I have ever heard. At no point in your rambling, incoherent response were you even close to anything that could be considered a rational thought. Everyone in this room is now dumber for having listened to it. I award you no points, and may God have mercy on your soul."
Posted by: kogmedia at October 3, 2008 07:57 PM
Let me remind you, dear sir, that Barack Obama is easily as much a stuttering dolt as Palin except that he's had two years to polish his act. Besides Democrats aren't constrained by something as inconsequential as the TRUTH so they can say whatever they want as long as it sounds pretty. Have a nice day.
Posted by: Henry Louis Gomez at October 3, 2008 08:19 PM
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