Him:“Oh, who have these two entities given the most money to? Chris Dodd and Barack Obama.”
And what have they gotten for their money? Show me what the money bought. Ya see, money doesn’t always buy companies happiness. For instance, my current Senator, Salazar has taken $60,000 from the oil industry, he has voted with them 0% of the time. How about this?
Obama has sponsored these bills in the Senate:
Senate Bill S.1181- A bill to amend the Securities Exchange Act of 1934 to provide shareholders with an advisory vote on executive compensation. (or to allow the shareholders a vote on the “Golden Parachutes” of their CEO’s, run the company into the ground and I doubt the shareholders will vote a huge severence package for ya)
Senate Bill S.1222- A bill to stop mortgage transactions which operate to promote fraud, risk, abuse, and under-development, and for other purposes.
Bills Co-Sponsored by Obama?
S.2136-A bill to help homeowners keep their homes in the event of a bankruptcy. (note: they still have to pay for the house, it place conditions on punitive fees and penalties);
S.3252: A bill to amend the Consumer Credit Protection Act, to ban abusive credit practices, enhance consumer disclosures, protect underage consumers, and for other purposes;
S.2636: A bill to provide needed housing reform.Help for those facing foreclosure;
S.2595: A bill to create a national licensing system for residential mortgage loan originators, to develop minimum standards of conduct to be enforced by State regulators, and for other purposes;
S.2452: A bill to amend the Truth in Lending Act to provide protection to consumers with respect to certain high-cost loans, and for other purposes; S.2411: A bill to require the establishment of a credit card safety star rating system for the benefit of consumers, and for other purposes;
S.1356: A bill to amend the Federal Deposit Insurance Act to establish industrial bank holding company regulation, and for other purposes;
S.681: A bill to restrict the use of offshore tax havens and abusive tax shelters to inappropriately avoid Federal taxation, and for other purposes;
S.10: A bill to reinstate the pay-as-you-go requirement and reduce budget deficits by strengthening budget enforcement and fiscal responsibility.
And John McCain? Does the name Phil Gramm ring any bells? He’s the McCain campaign’s Economic Advisor. You know, the guy that said that we are a nation of “whiners”?
Mother Jones calls him “Foreclosure Phil” Quote:“Eight years ago, as part of a decades-long anti-regulatory crusade, Gramm pulled a sly legislative maneuver that greased the way to the multibillion-dollar subprime meltdown.” And “In the 1990s, as chairman of the Senate banking committee, he routinely turned down Securities and Exchange Commission chairman Arthur Levitt's requests for more money to police Wall Street”
And the New York Daily News says, “guru who could be the poster boy for the late 1990s' deregulation frenzy that helped finance titans build houses of cards” AND “Gramm was the lead sponsor of 1999's Financial Modernization Act that undid rules written after the Great Depression.
The legislation helped clear the way for every major U.S. finance company to play the mortgage market.
"That act broke down the fire wall between banks, investment companies and other financial institutions that had been in place since 1933," said Ed Mierzwinski of the U.S. Public Interest Research Group. "It was one of the turning points that led to this."
TONS more on Gramm here:
http://www.motherjones.com/news/feature/2008/07/foreclosure-phil.htmlAnd McCain wants HIM as Secretary of the Treasury.