Posted by
Jace on Sunday, September 28, 2008 6:49:46 AM
I have been following other blogs for the past month and posting to them.
Being new to this form of communication I hope those who come to this blog might be interested
in some of the comments I have posted previously on other blogs.
At times it is hard to see a pattern in events and follow a time line when so much is being thrown out
for consumption. By posting here my various responses to information
that has appeared daily I hope to do the following:
1. Show the information I have gathered.
2. Show how I connected the dots so to say and reached my conclusion.
On Monday September 22, 2008 I posted this response to an article in the Washington Post.
Obama's ideas are just the same policies he has been peddling in his speeches for months.
Pelosi has taken up the call in Congress to earmark on to the package
many of Obama's campaign promises.
Pelosi and her crew are going to try to hang another $50 billion on to what will be possibly
a $1 trillion dollar taxpayer bailout.
Obama's ideas include a $1000.00 rebate to taxpayers (I feel it is a bribe) and loans to top auto makers to retool.
I feel this is another bribe to win over the voters in battle ground states.
All done under the guise of helping the middle class out.
The Secretary of the Treasury is working on stabilizing the financial markets here.
Not Christmas presents for the Democratic party at the taxpayers expense.
Had Congress been doing it's job in 2003 and 2006 we might not be in the mess we are in now.
Warning bells were sounded but some people were to busy stuffing their pocket to do anything.
John McCain's warning from May 2006 on the Congressional Record can be found at the following:
http://www.gov.track.us/congress/record.xpd?id=109-s20060525-168&bill=s109-190
In 2003 when a new agency was proposed to oversee Freddie Mac and Fannie Mae, Barney Frank
of Massachusetts, the ranking Democrat on the Financial Services Committee stated the following:
"These two entities--Fannie Mae an Freddie Mac--are not facing any kind of financial crisis, the more
people exaggerate these problems, the more pressure there is on these companies, the less we will see
in terms of affordable housing."
Touting the Gramm-Leach-Bliley Act for the current economic crisis
and pinning it all on Gramm is beyond silly.
Let's look at this.
Please use this web link to view the bill: http://www.govtrack.us/congress/bill.xpd?bill=s106-900
Note first the name of the Bill S. 900 (106th): Gramm-Leach-Bliley Act
Note next the Sponsor, Sen. Phil Gramm. Being the sponsor does not imply that
was the only person who authored the bill look back at names of the bill for that information.
Gramm may be credited with this bill but let's look a little deeper into who Obama
is not speaking about when he points the finger solely Mr. Gramm
http://en.wikipedia.org/wiki/Gramm-Leach-Bliley_Act#Congressional_history_of_the_Act
Congressional history of the Act
The bills were introduced in the Senate by Phil Gramm (R-TX) and
in the House of Representatives by James Leach (R-IA).
The bills were passed by a 54-44 vote along party lines with Republican support
in the Senate and by a 343-86 vote in the House of Representatives.
Nov 4, 1999: After passing both the Senate and House the bill was moved
to a conference committee to work out the differences between the Senate and House versions.
The final bill resolving the differences was passed in the Senate 90-8-1
and in the House: 362-57-15.
This veto proof legislation was signed into law by President Bill Clinton on November 12, 1999[1]
Please note the name of Jim Leach, who is this man
and what is his connection to the Obama Campaign?
Well with Mr. Leach's name on the bill it looks like he is a co-author.
Mr. Leach is also the Leader of Republicans for Obama I do believe when we look into this
we will remember he had a speaking part at Obama's recent convention.
Now let's look at a Mr. Larry Summers, now an Obama Advisor on economic affairs.
Mr. Summer's was Clintons Treasury Secretary and on the day of the bills signing had this to say.
"Let me welcome you all here today for the signing of this historic legislation.
With this bill, the American financial system takes a major step forward towards the 21st century,
one that will benefit American Consumers, businesses, and the national economy for many years
to come."
Mr. Summers's also said on that day in November 1999.
" And I want to thank especially my predecessor, Bob Rubin, who cared deeply that we get this bill right."
I do believe that Obama has more then a few economic advisors behind him involved
in this mess we now have.
Mr. Rubin is also one of his advisors on economic policy.
Robert Rubin, supported the repeal of the Glass-Steagal Act, and lobbied for
the Gramm-Leach-Bliley Act of 1999.
The Gramm-Leach-Bliley Financial Modernization Act became law at the urging
of Mr. Rubin to former President to sign it.
And let's not forget that this bill passed the Senate with a vote of 90 to 8.
Joe Biden, Obama's VP pick voted for the bill.
Perhaps we could say that it is dishonorable for Obama to point the finger only at Mr. Gramm
when so many on his present staff were so fully involved in the process.
It looks like Obama is trying to rewrite the history of how this financial mess came about
and he claims McCain plays fast and loose with facts.
You be the judge.
This morning 9/28/08 while checking to make sure I was accurate
I ran across the following that will be of interest.
Others have been connecting the dots like I have.
http://www.freerepublic.com/focus/f-news/2086379/posts