The American Spectator

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(Page 6 of 15)

p>Rick Davis wanted them to be more stringently regulated, huh! br> -- Alan Abramson /p>

"Ferrara formerly served in President Reagan's White Office of Policy Development, and as Associate Deputy Attorney General of the United States under the first President Bush."

Interesting that Ferrara offered failed to offer insight to the multi-billion-dollar banking collapses that occurred during those years. You may recall Neil Bush and Silverado Bank. McCain one of the Keating 5 and Lincoln Savings.

This year McCain's son's bank Silver State Bank failed.

He also failed the mention the accounting fraud charges against Freddie Mac executives.

He also failed to mention that Rick Davis, McCain's campaign manager, received 2 million lobbying for Freddie Mac against regulations, before joining becoming McCain's campaign manager.

His firm referred an additional $15,000 a month until the Feds took over Freddie Mac in August.

Ferrara also failed to mention Daniel Mudd who became head of Fannie Mae in 2005 and greatly increased Fannie Mae's involvement in subprime loans.

Barack Obama's 2006 Stop Fraud Act may have prevented sub prime lending crisis.

The lesson in this one single bill is that in the housing sector, Senator Obama is seems more aware of the issues that affect home owners in this cycle of the market. He was looking to tighten the regulations, while Senator Clinton was seeking to loosen the regulations.

p>There is plenty of blame to go around, but what's needed to stop Bush's $700 billion bailout is bipartisan opposition, from the voting public. br> --

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