John McCain

McCain — right on the Surge, right on Fannie Mae

By J. Wesley Bush ⋅ September 21, 2008 ⋅  Email This Post ⋅  Print This Post ⋅ Post a comment

Check out Hot Air for the full scoop, but this is another example of McCain’s prescience on critical political issues. Here’s a key graph from his 2006 speech to the Senate urging reform of Freddie Mac and Fannie Mae:

I join as a cosponsor of the Federal Housing Enterprise Regulatory Reform Act of 2005, S. 190, to underscore my support for quick passage of GSE regulatory reform legislation. If Congress does not act, American taxpayers will continue to be exposed to the enormous risk that Fannie Mae and Freddie Mac pose to the housing market, the overall financial system, and the economy as a whole.

The bill never made it out of committee — it was killed by Democrat Chris Dodd, who was in the pocket of Countrywide Mortgage.

Where was Obama during all of this? Silent as usual, and raking in bucks as the #2 recipient of campaign funds from Fannie and Freddie.