Saturday, September 20, 2008

McCain's Radio Address

Senator John McCain has given a weekly radio address which you may read on here at

McCain says about the current banking crisis:

At the center of the problem were the lobbyists, politicians, and bureaucrats who succeeded in persuading Congress and the administration to ignore the festering problems at Fannie Mae and Freddie Mac.

McCain saw this corruption and sought to do something.

Two years ago, I called for reform of this corruption at Fannie Mae and Freddie Mac. Congress did nothing. The Administration did nothing. Senator Obama did nothing, and actually profited from this system of abuse and scandal.

Please notice who he blames. He tells us that the problem includes President Bush. This is simply not true. The New York Times wrote 5 years ago that

The Bush administration today recommended the most significant regulatory overhaul in the housing finance industry since the savings and loan crisis a decade ago.

Under the plan, disclosed at a Congressional hearing today, a new agency would be created within the Treasury Department to assume supervision of Fannie Mae and Freddie Mac, the government-sponsored companies that are the two largest players in the mortgage lending industry.

I am troubled that McCain wants to destroy even further the First Amendment because of money in politics. He targets those of his own party in order further his own political career. McCain is an opportunist, and he is making every opportunity to destroy his own party and conservatism.

The Constitution gives the American citizen one huge way of dealing with corrupt politicians...VOTE THEM OUT! To add more government is adding fuel to this fire. McCain has already begun to dismantle the First Amendment. This will only further his destruction of it.

There is one major idea that Conservatives offered in 1994 that would truly do the reforming McCain wants. That is term limitations. This would have truly brought reform to corrupt politicians. McCain opposed this idea as reported here.

McCain hewed to his signature theme of campaign finance overhaul. When asked whether he supported term limits, he objected, “My problem is that we throw out the good people as well as the bad.” But he said that overhauling the campaign finance system would have an effect similar to a term limit’s by ending the “the incumbency protection racket.”
Source: New York Times, p. A17 Jan 25, 2000

This demonstrates McCain doesn't want reform. In fact, McCain wants to increase the problem by increasing government oversight. He would rather throw out the First Amendment than throw out the corrupt politicians.

McCain is leading a charge down a dark path. The problem is not being solved...only delayed.

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