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Profiles In Underachievement
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Max Fischer Chronicles
Musings From Rushmore Academy is A-plus opinion from a D-minus student. I hope you find this a welcome stop along the iWay, where you'll find commentary and trivial streams of conscienceness on matters of current events, politics and pop culture. Thanks for stopping by and for coming back. Welcome to Rushmore.
Rushmore's Basement
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2008
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September
(30)
- The White Noise Of 24-Hour Cable News
- Notable Quotable; JFK And A Speech Not Given
- Amber Alert: Where's Baby Sarah?
- Paul Newman Is Dead At 83
- Let's Just Tank And See What We're Made Of
- The Lowered Standards Of Our President
- Perspective; Daily Irony, Notable Quotable
- OMG! Clay Is Gay
- Joe Biden The Rhetorical Vomitron
- Our Cultural Divide
- Farewell To A Baseball Cathedral
- Bush Proposes 700-Billion-Dollar Bailout
- Should We Laugh Or Cry?
- Notable Quotable
- Florida Judge Keepin' It Real Up In The Feel
- Annoying Drivel Of Celebrity Politics
- Sound Of The Economy Is A Thumping Sound
- Daily Irony: SNL Lampoons Sarah Palin
- Deja Vu, All Over Again?
- Another Day, Another Lie
- Nine Eleven At Seven
- Larry The Smoking Cable Guy In Court Today
- Lipstick On A Pig
- Daily Hypocrisy; Bill Oh Really(?), O'Reilly
- Working For The Man In Seattle
- Daily Truthiness: Palin Yarn Unraveled
- It's The Economy, Stupid - Unemployment Soars
- Daily Irony; An Organized Community
- Strangeways, Here We Come
- Circus Freak At Fifty
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September
(30)
Profile Of An Underachiever
- Max Fischer
- Phoenix, Arizona, United States
- I saved Latin. What did you ever do?
7 comments:
Notice the logo in your ad on the fundamentals of the economy are strong... Obama campaign... geeZ are you on their payroll??
Obama's top advisor was CEO of Freddy Mac... Jim Johnson... Blog on that!
Nobama 08
David falls for the tired tactics of ignoring the message and deflect to tear down the messenger.
Jim Johnson is the FORMER Fannie May (not Freddy Mac) CEO from 1992-1998. Obama wisely brought Johnson on board as an adviser to clean the current mess up.
Just a few facts that talk radio tend to not mention, lest the facts get in the way of a well spun yarn
Max, you cannot have it both ways... Obama cannot rely on an insider to advise, yet bring the change to the country... As you like to say, it starts at the top, Johnson was at the top during the times of deregulation... You can try to offer up that there are degrees of dereg, again trying to have it both ways to support the liberal left..
David: See below, deregulation was enacted in 1999. Obama brought the man on board who said "this is a mistake."
The Gramm-Leach-Bliley Act, also known as the Gramm-Leach-Bliley Financial Services Modernization Act, Pub.L. 106-102, 113 Stat. 1338, enacted 1999-11-12, is an Act of the United States Congress which repealed part of the Glass-Steagall Act, opening up competition among banks, securities companies and insurance companies. The Glass-Steagall Act prohibited a bank from offering investment, commercial banking, and insurance services.
SPH, I am not sure that I can find a source that says Johnson or other notable Obama economic advisors thought that deregulation was a bad idea... In fact, there is a lot of supporting documentation that many of them were innolved and benefited from sub prime lending... See below.. Also, finally, this appears to be political posturing by both sides
Johnson Earned Large Bonuses At Fannie Mae Due To An Accounting Manipulation:
In 1998, Fannie Mae's Earnings Were Manipulated, Which Resulted In "Maximum Payouts" To Executives Including CEO Jim Johnson. "As CEO of Fannie Mae, Johnson, a former chief of staff to Vice President Walter F. Mondale and chairman of the board of the Kennedy Center, was the beneficiary of accounting in which Fannie Mae's earnings were manipulated so that executives could earn larger bonuses. The accounting manipulation for 1998 resulted in the maximum payouts to Fannie Mae's senior executives -- $1.9 million in Johnson's case -- when the company's performance that year would have otherwise resulted in no bonuses at all, according to reports in 2004 and 2006 by the Office of Federal Housing Enterprise Oversight." (Jonathan Weisman and David S. Hilzenrath, "Obama's Choice Of Insider Draws Fire," The Washington Post, 6/11/08)
Another adviser---Obama Adviser Larry Summers Was Involved In Negotiating The Gramm-Leach-Bliley Act, And Called It A "Major Step Forward Toward The 21st Century." "Mr. Summers, the Obama adviser, was among those who negotiated the [1999 Gramm-Leach-Bliley] measure on behalf of the Clinton administration, and he praised it as a 'major step forward toward the 21st Century.'" (Michael M. Phillips, Elizabeth Holmes and Amy Chozick, "Candidates Call Upon Big Names For Advice," The Wall Street Journal, 9/18/08)
http://www.snopes.com/politics/obama/fanniemae.asp
Sorry for the delay in responding. Been kayaking on the James River. If Snopes RED BAll on your "facts" isn't enough, well,let's talk about John McCain as Chairman of the Indians committee and all of his free trips to the casinos. Naw, that's no fun. Keep trying to snag ole' Johnson and do keep listening to Paulson. Bet he is one of your favs.
You need to read your own Snopes Source.. IT has NOTHING to do with my point... Obama has Zero Moral authority on this issue... I actually think Paulson has done a good job navigating us through the mess that Barney Frank, Clinton, et al. created
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