4 Reasons the Weak Economy Is Now Helping McCain

"PS--Fannie Mae has been a private corporation since 1968. Freddie Mac, since its inception."

Spudnuts, uh, no. Fannie and Freddie are government created entities, thus them being called "government sponsored enterprises". They have never been out and out privatized corporations, but the time has now come for them to do so.

It surprises me to no end that people continuously blame business for what's going on, but at the root of all these problems you can find some government legislation which is at the root of the problem.

Chris of AZ @ Jul 15, 2008 13:03:21 PM

Mike, nice swipe at Fox News.

However, you are incorrect about regulation would have diminished the mortgage crises. 1) Fannie and Freddie were created by the federal government to increase homeownership to low income Americans. 2) The Federal government did create a new regulatory body, OFHEO, to regulate the poorly run Fannie and Freddie to try and reign in these two behemoths. 3) It is Wall Street that is calling for these firms to be massively reformed (this is evidenced by the massively selloffs of Freddie and Fannie) and it is Capitol Hill that is trying to convince everyone the companies are "sound" (Chris Dodd, anyone?)

Regulation cannot get rid of inherent risks and massive stupidity on the part of financial companies.

Chris of AZ @ Jul 15, 2008 12:59:04 PM

This is nonsense...

I would guess this article is for idiots. And I hope those idiots will go ahead and vote for McCain. It bodes better in my eye sight if John McCain wins and America's economy grows weaker, Iraq gets worse, The rest of the world sees us as lacking and John McCain's old heart gives out because of all the stress then America turns around and states maybe Obama should have been giving a chance... then I laugh because you know what.. It will be too late. lol.. I ride a bike to work and laugh at you soon to be $5 a gallon gas buying fools... I laugh at you and your dumb articles...

donahue j of GA @ Jul 15, 2008 12:50:52 PM

What a Putz!

I think your one sided thinking has proven something that may have been questionable before. You really are a putz!

Mark P of NY @ Jul 15, 2008 12:46:50 PM

Ok...

"IF MCCAIN WOULD COME OUT AND TAKE A STAND AGAINST ILLEGAL'S CLOSE THE BORDERS AND STATR TO DEPORT THE CRIMINAL ILLEGALS

HE WOULD WIN BY A LANDSLIDE."

This would not gain McCain any votes. The only people who would want such strict action are already republicans. Sadly republicans are supposed to be a majority religious wing, but they always only think about themselves. Creating and refining a new strategy for dealing with illegal immigrants (this doesn’t necessarily make them criminals mind you) is something we need to work on, but simply deporting them all is not the answer.

Creamsykle of OH @ Jul 15, 2008 12:46:31 PM

Government

Republicans have disassembled oversight that protects the common man. Trickle down economics has been proven a myth. It's time we vote to dump the failed GOP mentality and elect those who can govern wisely and is not at war with the middle class. If so many do not get this, we are doomed as a great country. I hope the polls are wrong.

Art

Art Akkerman of CA @ Jul 15, 2008 12:46:27 PM

Just ignoring the obvious, huh

There is a simple and obvious reason that Obama has recently lost some of his edge in the polls. He has just reveresed course on the most important issue to his most ardent supporters. His stance on the FISA bill has made supporters like me, who have never contributed to politicians before, yet have now donated to his campaign, has made us question his stance on constitutionality and the rule of law. To a person like me, the erosion of individual rights that has occured over the last eight years, the eviseration of rights accorded to individuals is the single most important issue and until last week was one we knew we could count on Obama to stand against. There is also the issue of pragmatism: there is absolutely no proof that wire-tapping on the vast scale that has been done actually yields credible intelligence, as a matter of fact there is evidence to the contrary: the FBI has been complaining that of the tens of thousands of leads the NSA has given it not a single one has actually yielded a useful lead.

This may seem like a minor issue to the majority of voters in this country but to people like me, people who have advocated for Obama, have contributed money, and who are very worried about the direction this country seems to be taking away from the principles it was founded on, this departure is extremely worrying. We'll still vote for him. But he's not getting my loud advocacy until I'm once again convinced that he is not going to continue to erode freedoms with little or no actual security benefit. The reality of all of these erosions is political: politicians spying on politicians, not law enforcement spying on terrorists, and the direcrtion it takes us is away from security, away from individual rights, and away from safety. Some terrorist in a cave can't hurt me as much as a government that has no accountability, and no rule of law.

wideAwake of NY @ Jul 15, 2008 12:43:11 PM

stale obamanomics?

McCain is talking about magically balancing the budget while decreasing tax revenues. And second-rate journalists don't even question how....

PS--Fannie Mae has been a private corporation since 1968. Freddie Mac, since its inception.

Either you involve the government at the front end through at least some modicum of regulation, or the tax-payer foots the bill after the market failure.

The business cycle: pump excess liquidity into the market to create the illusion of wealth, then watch the economy take a nose-dive when times start getting good so that labor doesn't do something crazy like ask for higher pay. Lather, rinse, repeat.

Spudnuts of DC @ Jul 15, 2008 12:40:35 PM