Palin Blames Lobbyists Like Her Campaign Manager For The Failure Of Fannie Mae and Freddie Mac
Palin Blames Lobbyists Like Her Campaign Manager For The Failure Of Fannie Mae and Freddie Mac
During his interview with Gov. Sarah Palin (R-AK), Fox’s Sean Hannity asked Palin if she believed an investigation was needed into the “relationships between political donations from Fannie and Freddie Mac and the bankruptcy.” Hannity’s question was presumably inspired by Sen. John McCain’s (R-AZ) recent emphasis on the significant number of campaign contributions that the two firms have made in recent years.
Tonight, however, Palin played down the role that campaign contributions might have played in the Fannie-Freddie collapse. Instead, she emphasized “the role that lobbyists play in an issue like this”:
HANNITY: Should there be an investigation in terms of the relationship between the political donations and then of course the bankruptcy that ensued and the impact on the economy?
PALIN: I think that’s significant, but even more significant is the role that the lobbyists play in an issue like this also. And in that cronyism — it’s symptomatic of the greater problem that we see right now in Washington and that is just that acceptance of the status quo.
Watch it:
While Palin blames the need for the Fannie-Freddie bailout on the two firms’ lobbyists, she seems more than willing to take those same lobbyists’ money. In fact, at least 20 McCain-Palin fundraisers “have lobbied on behalf of Fannie Mae and Freddie Mac” in recent years.
More significantly, the McCain-Palin campaign manager, Rick Davis, “served as president of an advocacy group led by Fannie Mae and Freddie Mac” that worked to cripple regulatory initiatives in Congress and protect the two institution’s “healthy profits.” As the Politico reported in July:
Davis headed the Homeownership Alliance, a lobbying association that included Fannie, Freddie, nonprofit groups, real estate agents, homebuilders and consumer advocates. … [The group] worked to oppose congressional efforts to tighten controls on Fannie and Freddie.
Transcript:
HANNITY: How connected is it, though, to Washington? You have 354 lawmakers got money from Fannie and Freddie. 354. If you look at the years from 1989 to 2008, second-top recipient was Senator Barack Obama. Should there be an investigation in terms of the relationship between the political donations and then of course the bankruptcy that ensued and the impact on the economy?
PALIN: I think that’s significant, but even more significant is the role that the lobbyists play in an issue like this also. And in that cronyism — it’s symptomatic of the grade of problem that we see right now in Washington and that is just that acceptance of the status quo, the politics as usual, the cronyism that has been allowed to be accepted and then it leads us to a position like we are today with so much collapse on Wall Street. That’s the reform that we’ve got to get in there and make sure that this happens. We’ve got to put government and these regulatory agencies back on the side of the people. It’s what John McCain — we have very consistent track records showing that we are capable and we are willing to do this, ruffle feathers along the way but it’s what we are expected to do and what we are promising to do.
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More significantly, the McCain-Palin campaign manager, Rick Davis, “served as president of an advocacy group led by Fannie Mae and Freddie Mac”…
___________
But… but… Rick ASSURED us, just the other day, that that’s all in the past. “We’ve turned that corner”… wasn’t that his phrase?
I guess Rick’s taken off his uniform too… Botch??? Never heard of him…
September 17th, 2008 at 10:15 pmPALIN: I think that’s significant, but even more significant is the role that the lobbyists play in an issue like this also. And in that cronyism — it’s symptomatic of the greater problem that we see right now in Washington and that is just that acceptance of the status quo.
As opposed to the type of cronyism where a vacancy at the top of the State Division of Agriculture in Alaska is filled by you with a former high school classmate , and her “qualification” for that particular job was her childhood love of cows ?
September 17th, 2008 at 10:17 pmI am trying to get one thing straight in my head, if socialism is bad, and nationalizing companies is bad, and the free market works best when unregulated, why is it okay for the government to get involved at all?
September 17th, 2008 at 10:23 pmSincerely, Fannie and Freddie did not “fail.” They are just the last ones left standing.
Wall Street investment banks, owning their own mortgage companies selling junk bonds with poor credit quality underpinned by worthless subprime loans to international investors did this. International investors were buying those “private label” bonds with the expectation they were just as safe as Fannie’s and Freddie’s.
Only, they weren’t.
So now FNM and FRE are the only ones left standing. Attoning for their sins, as well as those of Wall Street.
September 17th, 2008 at 10:29 pmThis is starting to get Twilight Zoneish. It’s like she can’t hear the words that are coming out of her mouth. I know her lobbyist friends hear them loud and clear. Blackberrys hummin’ all night long.
September 17th, 2008 at 10:30 pmAnyone who had watched the interview would have to admit she did much better in the blank stares department. If she could just put some words together that made sense, she’d be onto something.
September 17th, 2008 at 10:31 pmBad move there, Failin’ Palin.
Tomorrow it’s either (1) back on a short leash or (2) spend time in the penalty box with Carly.
September 17th, 2008 at 10:36 pmShe is so stupid it hurts.
September 17th, 2008 at 10:59 pm“Rufflin’ feathers along the way”? She’s more like Elwood P. Dowd than Mr. Smith.
September 17th, 2008 at 11:03 pmThe GOP mafioso will make mincemeat of her.
She is so stupid it hurts.
Put her together with McNumbNuts and what do you have?
Unstable/Unable 2008
September 17th, 2008 at 11:04 pmHannity flunked out of Junior College and became a winger hack. They should have vetted the PTA president. They are going to find out in public something they don’t want to know…mark my word.
September 17th, 2008 at 11:05 pmActually she is like Dubya in drag.
September 17th, 2008 at 11:06 pmShe was for her campaign managers before she didn’t know she was against them. Gasp! Gaffe!
September 17th, 2008 at 11:11 pmMcMetal…
Cows, mmmmm.
I love them too, but just not that way…
September 17th, 2008 at 11:13 pmMcCain/Palin are LIARS, HYPOCRITES and FRAUDS.
September 17th, 2008 at 11:15 pmLatest: Sarah Palin doesn’t speak for the McCain campaign.
Just who is left who does speak for them?
Oh, how I would love to be a fly on the wall of that Magical Mystery Tour Bus for just a few hours, after one of the speeches and interviews of the last few days.
PEACE
September 17th, 2008 at 11:15 pmRUCerious Says:
——————————————————————————–
McMetal…
Cows, mmmmm.
I love them too, but just not that way…
September 17th, 2008 at 11:13 pm
I love cows , too ………Especially the way they taste after being cooked ; guess that means I should be made owner of every fast-food joint on the planet
September 17th, 2008 at 11:17 pmPalin – “…it leads us to a position like we are today with so much collapse on Wall Street.”
McCain has 83 Wall Street lobbyists working for his campaign. McCain/Palin MUST STOP THE LIES and HYPOCRISY.
Here’s a little list of Keating Five McCain’s list of 83:
Phil Anderson: American Council of Life Insurers, Aetna, AIG, New York Life, MassMutual, VISA
Rebecca Anderson: Aegon, American Council of Life Insurers, Cigna, Barclays, Credit Suisse First Boston, HSBC
Stanton Anderson: The Debt Exchange
David Beightol: Allstate, Amerigroup, Charles Schwab, HSBC
Rhonda Bentz: VISA
Wayne Berman: American Council of Life Insurers, AIG, Americhoice, Shinsei Bank, Blackstone, Carlyle Group, Broidy Capital Management, Credit Suisse Securities, Highstar Capital, VISA, Ameriquest Mortgage, Fannie Mae, Freddie Mac, Fitch Ratings
Charlie Black: JP Morgan, Washington Mutual Bank, Freddie Mac, Mortgage Bankers Association of America, National Association of Mortgage Brokers
Judy Black: Colorado Credit Union League, Genworth Financial, Bay Harbour Management, Merrill Lynch
Kirk Blalock: Credit Union National Association, Financial Executives International, American Insurance Association, Mutual of Omaha, Zurich Financial Service Group, Fannie Mae, Federal Home Loan Bank of San Francisco
Carlos Bonilla: Financial Services Roundtable, Freddie Mac
Christine Burgeson: Citigroup
Mark Buse: Freddie Mac, Goldman Sachs, Manufacturers Life Insurance Company
Nicholas Calio: Citigroup, Managed Fund Association, Fannie Mae, Merrill Lynch, The Investment Company Institute, TIAA-CRE, Securities Industry and Financial Markets Association
Ben Nighthorse Campbell: Amscot Financial Corporation, Community Financial Services Association, Fidelity National Financial
Andrew Cantor: American Insurance Association, Merrill Lynch
Alberto Cardenas: Fannie Mae
James Courter: Goldman Sachs, Donaldson Lufkin & Jenrette, Investment Company Institute, Merrill Lynch
David Crane: Financial Services Roundtable, PriceWaterhouseCoopers, Deloitte & Touche, KPMG, Ernst & Young, Bank of America, Association of Corporate Credit Unions, Freddie Mac
Dan Crippen: Merrill Lynch, National Multi-Housing Council
Arthur Culvahouse: Fannie Mae
Bryan Cunningham: Arch Capital Group
Alfonse D’Amato: AIG, Freddie Mac
Doug Davenport: Federal Home Loan Bank of San Francisco, Goldman Sachs, VISA
Ashley Davis: Prudential Financial, American Financial Group, American Premier Underwriters, Great American Insurance Company
Mimi Dawson: MassMutual
Melissa Edwards: Freddie Mac, National Association of Real Estate Investment Trusts, Access to Capital Coalition
Chris Fidler: American Bankers Association, Milcom Venture Partners, National Association Real Estate Investment Trusts
Samuel Geduldig: American Bankers Association, American Institute of CPAs, America Gains, Berkshire Hathaway, Consumer Bankers Association, Ernst & Young, Financial Services Roundtable, Investment Company Institute, PriceWaterhouseCoopers, Prudential Financial, Sovereign Investment Council, Fidelity Investments, FMR Corp.
Benjamin Ginsberg: Massachusetts Mutual Life Insurance, AIG Technical Services
David Girard-Dicarlo: American Financial Group, American Premier Underwriters
Juleanna Glover Weiss: RJI Capital, American Institute of CPAs, BNP Paribas, Ernst & Young, PriceWaterhouseCoopers
Slade Gorton: Allstate Insurance, Hannan Armstrong Capital
Phil Gramm: UBS Americas
John Green: Laredo National Bank, Alternative Investment Management Association, AIG, Blackstone Group, Carlyle Group, Citigroup, Credit Suisse Group, Fannie Mae, Icahn Associates, FMR Corp., AFLAC, VISA
Janet Grissom: American Institute of CPAs, NYSE, Merrill Lynch
Kristen Gullott: San Diego Credit Union
Kent Hance: Stanford Financial Group, Municipal Capital Markets Group, Inc.
Vicki Hart: American Financial Services Association, Citigroup, Investment Company Institute, Lehman Brothers, Merrill Lynch, New York Stock Exchange, VISA, Carlyle Group, Credit Suisse, Federal Home Loan Bank of Indianapolis, Goldman Sachs, National Association of Government Guaranteed Lenders, Stanford Group, Lloyd’s of London, National City Corp.
Richard Hohlt: Capmark Financial Group, Fannie Mae, JP Morgan Chase and Co., Student Loan Marketing Association, Washington Mutual, Guaranty Bank & Trust, Peachtree Settlement Funding, Dime Savings Bank of New York
Gaylord Hughey: Heartland Security Insurance Group
Kate Hull: Credit Union National Association, Fannie Mae, Federal Home Loan Bank of San Francisco, Zurich Financial Services, American Insurance Association, Financial Executives International
James Hyland: American Insurance Association, Seattle Home Loan Bank, Self Help Credit Union, National Association of Bankruptcy Trustees, Merrill Lynch, Mortgage Investors Corp., Federal Home Loan Bank of Indianapolis, Freddie Mac, New York Stock Exchange, Citigroup, VISA
Aleix Jarvis: Credit Union National Association, Fannie Mae, Federal Home Loan Bank of San Francisco, Financial Executives International, Mutual of Omaha, American Insurance Association, Zurich Financial Services
Greg Jenner: American Council of Life Insurers, JG Wentworth, UBS, VISA, PriceWaterhouseCoopers
Frank Keating: American Council of Life Insurers
Steven Kuykendall: California Bankers Association
William Lesher: Chicago Mercantile Exchange, Commerce Ventures, Rabobank International
Thomas Loeffler: Citigroup, Fannie Mae, Investment Company Institute, World Savings and Loan Association, United Services Automobile Association (USAA)
Kelly Lugar: RJI Capital Strategies
Peter Madigan: Arthur Andersen, Bank of New York, Broadridge Securities Processing, Charles Schwab, Deloitte and Touche, Goldman Sachs, International Employee Stock Option Coalition, Mastercard, NYSE, Fannie Mae, Merrill Lynch, PNC Bank
Mary Mann: MassMutual
Paul Martino: Morgan Stanley, Baker Tilly
Jana McKeag: Venture Catalyst
Alison McSlarrow: Fannie Mae, Hartford
Mike Meece: Georgetown Partners
David Metzner: Ernst & Young, Harbinger Capital Investments, Prudential, Public Financial Management, Western Union
Susan Molinari: Freddie Mac, American Land Title Association, Association of Consumer Credit Unions, Beacon Capital Partners, College Loan Corp, Coventry First, E-Trade, Financial Services Roundtable, Rent-A-Center
John Moran: Cerberus Capital Management, American Council of Life Insurers, Accenture
John Napier: Freddie Mac
Susan Nelson: AIG, San Antonio Credit Union
Paul Otellini: Ernst & Young, Financial Services Forum
Steve Perry: Charles Schwab, Hoover Partners, HSBC, National Stock Exchange
Nancy Pfotenhauer: American Land Title Association, Mortgage Bankers Association
Elise Pickering-Finley: Credit Suisse, DE Shaw, Hartford Financial Services, Research In Motion, Retail Industry Lenders Association, URL Mutual
James Pitts: Advanced Association for Life Underwriting, AETNA, American Council of Life Insurers, AIG, Council of Insurance Agents and Brokers, Debt Advisory International, Financial Services Coordinating Council, GE Financial Assurance, Hartford Life, Jefferson Pilot Financial, Kenwood Investments, MassMutual, Mutual of Omaha, New York Life, UNUM Provident, VISA, PMI Group
Tim Powers: AP Capital, Genworth Financial, Retail Industry Lenders Association, E-LOAN, General Electric Mortgage Insurance
Walter Price: Wachovia
Sloan Rappoport: Friedman, Billings, Ramsey Group, Inc. (FBR), Trafelet Delta Funds
Hans Rickhoff: Capital One, Investment Company Institute, United Services Automobile Association (USAA)
Kathleen Shanahan: New York Stock Exchange
Andrew Shore: Accenture, Retail Industry Lenders Association, Barclays, Bond Market Association, Credit Suisse, TPG Capital
Katie Stahl: Alliance for Investment Transparency, Ares Management, Fairfax Financial Holdings, Uhlmann Financial Group
Milly Stanges: TIAA-CREF
Aquiles Suarez: Fannie Mae
Don Sundquist: Freddie Mac, The Hartford
Peter Terpeluk: JP Morgan Chase, Ernst & Young, Prudential
Fred Thompson: Equitas
Jeri Thompson: American Insurance Association
John Timmons: National Association of Federal Credit Unions
William Timmons Sr.: American Council of Life Insurers, Citigroup, Dun & Bradstreet, Freddie Mac, Vanguard Group
Vin Weber: Agstar Financial Services, AKT Investment Corp., American Institute of CPAs, Ernst & Young, Freddie Mac, Louis Dreyfus Corp, PriceWaterhouseCoopers
Jeffery Weiss: JP Morgan
Tony Williams: Russell Investment Group, American Life Inc., Northwestern Mutual
David Corn, Jonathan Stein, and Nick Baumann
September 17th, 2008 at 11:23 pmGreed in the form of commissions and executive incentive compensation contributed to the debacle.
Management failed in their risky high profit schemes, Boards failed to provide competent oversight, regulators and public accountants failed to reign in risky financial practices.
Yes, government leaders passed facilitating legislation, likely at the encouragement of lobbyists. But much more occurred.
September 17th, 2008 at 11:40 pmShowing a little leg are we? Oh I forgot.. it is faux… it is supposed to be this way.
notice how her hair is down more over her ears for once? Hiding a wire maybe?
This is ridiculous… a supposed credible interview on Faux and with that creep of a host. To pull this so called interview off is an insult to the intelligence of America.
The world is laughing at us… I am so embarrassed.
September 18th, 2008 at 12:41 amcalamity hannity uses the word “bankruptcy” when in fact it’s “bankruptcies.”
why does he always start a question with a lie about the dems? then to hear plain sillyass answer to his sillyass question is pathetic. she is dumber than dumb.
she is the one who should be investigated/vetted. look into that seany. it’s amazing to see repugs crowds clapping like idiots to this pair of nothings lying.
September 18th, 2008 at 2:04 amMeanwhile, back in Reality, the economy is soiling the bed… and Bush has sent the taxpayers in to clean up the mess. McCain’s Republican party, champions of ‘free’ markets, deregulation and small, hands-off government, has recently volunteered almost a Trillion dollars in corporate welfare bailouts. Capitalism, Conservative style: public loss to ensure private profit. And still, half of those polled still cling tenaciously to the Conservative totem. The muddy water rising fast beneath them. Imagine, they’re still hawking tax cuts for votes, despite the last 8 years of those same policies gutting the country’s finances. Same methods, different results? What do they call that kind of reasoning again… oh yeah, insanity.
September 18th, 2008 at 2:36 amhttp://www.thedailyshow.com/video/index.jhtml?videoId=185164&title=candidates-generic-off
The funny part abut Palin begins at 2:36.
September 18th, 2008 at 2:46 amI don’t know how anyone can stand to listen to either one of them.
September 18th, 2008 at 6:01 amThe fact of the matter is that there is an undue, corrupting, and unsavory influence of money on policy and politicians of all stripe. It will continue unabated in our present system until the Law of Entropy comes into play–perhaps we are seeing the beginnings of it now, but I suspect several more cycles before the inevitable BIg Crash, but maybe . . . .
September 18th, 2008 at 7:13 amGeorge who? (from Huffpo)
During a Florida town hall event with John McCain, Jeb Bush appeared to throw his brother George under the bus. Bush gave a rousing talk about throwing the bums out of Washington. Perhaps he forgot that his brother is the chief bum?:
“Reform becomes contagious,” former Florida Gov. Jeb Bush, brother of the current president, said at a McCain town hall meeting this week in Orlando. “If you start to dream bigger dreams and you start challenging the basic assumptions, you can change how things work, and we’ve done it in Florida, and the Good Lord knows we need to do it in Washington, D.C., and John McCain is the right guy at the right time to make that happen.”
The Bush family’s annual Christmas party’s going to be a bumpy affair, and it will be dog-pile on George, for wrecking the brand.
September 18th, 2008 at 7:43 amI truly agree with Krazny..there is no need for government to get involved…in fact palin seems to be stupid at all…
September 18th, 2008 at 7:56 amRude Pundit on McCain’s innate sexism in the Palin choice:
An idiot’s view? You mean the view of someone who believes humans and dinosaurs coexisted? That humanity is not implicated in Global Climate Change? That Iraq was implicated in the events of IX/XI? That Russia was the aggressor in Georgia? Yeah, that kind of stupid…
September 18th, 2008 at 8:02 amYou Just Can’t Trust John McCain or Sarah Palin!
repeat often
September 18th, 2008 at 8:16 amSarah Palin is a lot like Dana Perino: A boinkable idiot.
September 18th, 2008 at 8:22 amIt is interesting that Palin and McCain made Washington DC their target if not their biggest enemy during this campaign.
After all, Washington DC is nothing but a city.
Palin and McCain regardless they never mention Bush administration when they use their daily fierce attack on Washington D.C. and they try to claim disconnect from lobbyists.
It has been the customery for candidates to use Washington as their shooting target when it comes to selling themselves as candidates,but Palin and McCain stop at Bush adminsitration’s doorstep,and then they go silent.
Palin is a very much connected politiican to Washington insiders circles,she benefited from lobbyists ,so is McCain who is a long timer politian in Washington D.C.
September 18th, 2008 at 8:32 amCandidates like Palin and McCain are running their campaign on hating Washington…give me a break.!!! after all that’s where their dreams are now…to be crowned in Washington.
They know how much the audience is unhappy with what’s going on in Washington..so they use that hate but they act if they are disconnected from the whole picture and Washington’s lobbyists and money game.
Palin’s dishonet and insincere words of ‘Thanks, but No Thanks’ sounds familiar and became her trade mark ,sold daily to hopeful voters.
Palin should be more honest to tell the crowd about who has been running Washington for the last 7 years.
Palin and McCain never mention Bush’s adminstration, never say one word regarding failures of this administration,but they keep attacking Washington daily.
Whom are they attacking..? Palin talks about changing Washington.
I understand it more when Obama say this,because he mentions Bush in just about every speech, but Palin wants only to use the word Washington in her attacks and failures on every front but without mentioning Bush.
She is telling her crowds that she is coming to Washington with big change in one hand and knowledge and readiness to do things in the other.
Palin needs to be questioned in the next debate either by moderator or by Biden himself on what does she sees wrong in Washington..and can she blame Bush.
Palin and McCain cannot have it both ways..ignoring Bush,but criticising Wshington,when Bush’s administration is running the show in Washington, the country and world affairs,which took us to war.
I have no doubt that Palin and McCain worked hard to get Bush elected both times, under famous Bush’s banner ‘Compassionate Conservatism’.
If they both did that..then whom are they criticising now in Washington..? !!
It’s been my experience that smart women are MUCH better in bed than bimbos. I toured in big hair metal bands in the 80s, so I have done my research on this subject.
September 18th, 2008 at 9:13 amWhere her lips moving?
Then she’s lying.
And Hannity is still a bonafide a$$hat.
September 18th, 2008 at 9:15 amSean didn’t miss the opportunity to ding Obama about money received from Fannie and Freddie.
September 18th, 2008 at 10:00 amLeading questions so Saint Sarah can get her parrot points in.
Ironic that Palin would accuse “Washington” of cronyism. Her whole political career has been about cronyism and punishment of opponents.
Why stop with your (and McSame’s) campaign managers. Give credit where it is due.
Decreased regulatory oversight (regulations = bad).
September 18th, 2008 at 11:16 amKeating 5
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Graham Rudman
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This is another example that the “old world jounalism of Murrow, Cronkite and Rather is dead and buried. In the case of the Time Magazine reporter Ms Tumulty, she seems to think the finding out the who, what, where, when and how have been replaced with a steno pad, which she records what ABC said in rebuttle to the complaint of Congressman Kucinich. There is a great disconnect with what happened and the points made by ABC. She asks little of no questions to ABC. She takes what is handed to her and repeats it vebatim and then calls that reporting. I call is stenography. Lida Sohbet sohbet sesli chat Gelinlik Modelleri
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February 6th, 2009 at 8:30 amWe’ve got to put government and these regulatory agencies back on the side of the people. It’s what John McCain — we have very consistent track records showing that we are capable and we are willing to do this, ruffle feathers along the way but it’s what we are expected to do and what we are promising to do.
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Wall Street investment banks, owning their own mortgage companies selling junk bonds with poor credit quality underpinned by worthless subprime loans to international investors did this. International investors were buying those “private label” bonds with the expectation they were just as safe as Fannie’s and Freddie’s.
Only, they weren’t.
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March 12th, 2009 at 9:12 amI am trying to get one thing straight in my head, if socialism is bad, and nationalizing companies is bad, and the free market works best when unregulated, why is it okay for the government to get involved at all?
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