Hmm just by reading the first page my stance is reinforced that Theo is a moron. GJ avoggadro for actually having the patience to even reply to such an idiot.

A headline and opening line that represented his main point. An inaccurate one.

If McCain is not as competent as he portrays him to be, his point about Obama's is drastically weakened and/or negated.

That being said, I could have phrased what I meant in my previous post a bit more clearly. My bad.

So what you're saying is that McCain was clearly more knowledgeable about it?

In all honesty, I'm not sure how you get that from his post. Because all I see is a false implication about McCain's competence. I see nothing at all about Obama. No facts. No reports. Nothing.

So how one can infer that McCain is more knowledgeable from a post that only demonstrates that McCain can read a report, I do not know.

But....he still doesn't have a solution =p

if there was enough information there would be no debate.

right and wrong are just labels people put on thoughts they dont understand, NOTHING is ever as simple as right and wrong.

> Theodora wrote:

> Actually yes, many things are as simple as right and wrong.

only in the eyes of a kid or idiot.

But...McCain saw it and doesn't have a remedy. So I still fail to see the real purpose of the thread =p

FEDERAL HOUSING ENTERPRISE REGULATORY REFORM ACT OF 2005 -- (Senate - May 25, 2006)

[Page: S5217]  GPO's PDF

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   Mr. McCAIN. 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.

   The Office of Federal Housing Enterprise Oversight's report goes on to say that Fannie Mae employees deliberately and intentionally manipulated financial reports to hit earnings targets in order to trigger bonuses for senior executives. In the case of Franklin Raines, Fannie Mae's former chief executive officer, OFHEO's report shows that over half of Mr. Raines' compensation for the 6 years through 2003 was directly tied to meeting earnings targets. The report of financial misconduct at Fannie Mae echoes the deeply troubling $5 billion profit restatement at Freddie Mac.

   The OFHEO report also states that Fannie Mae used its political power to lobby Congress in an effort to interfere with the regulator's examination of the company's accounting problems. This report comes some weeks after Freddie Mac paid a record $3.8 million fine in a settlement with the Federal Election Commission and restated lobbying disclosure reports from 2004 to 2005. These are entities that have demonstrated over and over again that they are deeply in need of reform.

   For years I have been concerned about the regulatory structure that governs Fannie Mae and Freddie Mac--known as Government-sponsored entities or GSEs--and the sheer magnitude of these companies and the role they play in the housing market. OFHEO's report this week does nothing to ease these concerns. In fact, the report does quite the contrary. OFHEO's report solidifies my view that the GSEs need to be reformed without delay.

   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.

   I urge my colleagues to support swift action on this GSE reform legislation.

~~~~~~~~~~~~~~

Note he co-sponsored it. Note he noted all the issues in details enough for a lay person, and noted the bill he wanted passed.