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FacebookLetter to the editor:
Make chief execs pay for mismanagement
Tue, Sep 23, 2008 (2:03 a.m.)
The chief executives of failed investment companies who reaped hundreds of millions of dollars in bonuses and salaries for taking a short-term approach to profits at the expense of their employees and their stockholders owe a huge debt of restitution to the American taxpayers who are forced to pay for the corporate greed that has caused the failure of these companies.
Restitution should consist of money to be paid and jail time to be served. Until these gangsters have emptied their bank accounts into the U.S. Treasury in an attempt to repay our country and the world for the chaos their misdeeds have caused, they should be incarcerated. This is just my opinion, but I’ll bet it is mirrored by many of you who have seen your net worth erode this past week.
Diane Shaul, Henderson
Discussion: 16 comments so far…
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John McCain tried to save America in 2005.
John McCain was one of the 3 co-sponsors to S190. A bill that would have saved America a lot of money ache that is happening now. All the Democrats in the Committee voted against the bill and killed it.
Below is part of McCain's speech in 2005 on the Senate floor. Too bad, they did not listen to him.
"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."
"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."
That's four so far today, Jim. Add today's total to how many yesterday?
On how many more threads will you post the same unsourced nonsense? (I read the link from "RI" yesterday; it's to someone's blog post and that blogger gives no sources.)
Until you read it.
Got no problem with restitution of money to be paid and jail time to be served.
Obama said yesterday, that this bailout effort is under siege from Lobbyists.
Among other issues, apparently the swarming Lobbyists are trying to expand the limited scope of bad mortgages to cover homeowners and all troubled loans.
Congressional ethics only requires that they do not take meal and trips from Lobbyists.
We need to have every contact between a lobbyist and a Congressmen or congressional staffer detailed and reported to the public.
Reid and Pelosi should start with this bill.
"We need to have every contact between a lobbyist and a Congressmen or congressional staffer detailed and reported to the public."
You need look no further than the 160 lobbyists running the McCain campaign... including former Fannie/Freddie lobbyists Rick Davis and Charlie Black.
Nance is spreading unsourced and inaccurate information on the death of S.190. (Yesterday, he claimed McCain WROTE the bill, and said it was bill "91" LOL!) He still has yet to prove that Democrats, or ANY Democrat, voted against the bill in committee.
So sad.
I do not have to prove anything. It is a matter of public record. All the Democrats voted against S190 in the committee. No Democrat ever supported the bill.
LOL, no proof, then?
Link the public record.
Give me the names of the Dems who should be shamed.
Prove it.
http://www.realtor.org/GAPublic.nsf/page...
Haha! Nance is BUSTED!
From your own link, genius:
"The Committee ACCEPTED A SUBSTITUTE BILL authored by Banking Chairman Richard Shelby (R-AL). They disagreed to a Democratic substitute by Ranking Member Paul Sarbanes (D-MD). "
The REPUBLICAN-LED COMMITTEE didn't even consider the bill McCain co-sponsored!
Dems voted against a COMPLETELY DIFFERENT BILL!
HAHAHAHAHAHAHAHAHAHA!
Nance, thanks for PROVING YOURSELF WRONG!
Dufus....McCain did not become a co-sponser of the s190 or give a speech on the floor of the senate until after that committee vote.
The bottom line is that the Democrats, starting with Clinton, wanted Fannie Mae and Freddie Mac to have an agressive sub-prime product so that minorities would get into houses that they normally would not qualify for.
Obama was number in receiving cash from Fannie Mae and Freddie Mac ....he did that by being in the Senate for only 3 years.
McCain wanted to put the brakes on Fannie Mae and Freddie Mac. Democrats wanted the sub-prime's to continue to flood the markert.
No, you claimed the Dems spiked THIS BILL, S.190. They did not. They voted against a bill written by Shelby! And that bill NEVER LEFT COMMITTEE!
S.190 NEVER CAME TO A VOTE IN THE COMMITTEE. Your claim that the Democrats voted against it is nothing more than a LIE.
McCain's co-sponsorship is meaningless, as he didn't sign on until AFTER S.190 was dead. That means NOTHING. After-the-fact support for a bill? That's GUTLESS. And let's not forget that YOU originally said that McCain had WRITTEN the bill, when he had not.
Furthermore, Hagel reintroduced the Fannie/Freddie regulatory bill in 2007, and guess who's name is NOT attached? McCain!
http://www.govtrack.us/congress/bill.xpd...
You absolutely LOSE this argument.
AHAHAHAHAHAHA!
I do not lose anything.
The Democrats have for years...starting with Bill Clinton...have been pushing hard for Fannie Mae and Freddie Mac to do sub-prime loans so that minorities can get into houses.
Also, it was McCain and not Obama who has said in 2005: "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."
"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."
All, Obama has done is become number 2 in getting cash from Freddie Mac and Fannie Mae. He got that accomplishment with only 3 years in the Senate.
You can not find any Democrat support for S190.
And you can not find any Democrat in 2005 say anything like that McCain said.
Why? Because Democrats, like Obama, where getting cash from Fannie Mae and Freddie Mac and they fought tooth and nail any reform of Fannie Mae and Freddie Mac. They were worried that it slow down the flood of sub-prime loans that were placing minorities into homes.
Below is part of McCain's speech in 2005 on the Senate floor. Too bad, they did not listen to him.
"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."
"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."
You have yet to explain how the MINORITY PARTY in Congress could have BLOCKED ANYTHING without a filibuster.
And I have asked ALL of you REPEATEDLY to PLEASE PLEASE PLEASE point me to JUST ONE Democratic filibuster during the period 2001-2005.
JUST ONE.
Bottom line is that Democrats have resisted any reform of Fannie Mae and Freddie Mac for years.
In the last 2 years, they have no offered no bills.
Obama is number 2 on the list of getting money from them and he has only been in the senate for 3 years...quite an accomplishment.
The Democrats, starting with Bill Clinton, have been pushing for those companies to push the sub-prime loan market because they wanted more and more minorities to own homes.
In 2005 and since, Obama said nothing the problems at those companies.
McCain in 2005 said this: "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."
"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."
IOW, Jim, you cannot answer my request. You just keep posting the same recording over and over and over.
And you don't even realize it means absolutely nothing.