Representative John Mica (R-FL) does what rightwingers do, and blames Fannie Mae and Freddie Mac for the financial crisis, and then he links them to Barack Obama and suggests that Obama is to blame. Alan Greenspan, Christopher Cox, and John Snow all explain that he’s wrong:
Those guys, though all conservatives and Republican appointees, are no doubt part of the vast liberal/ACORN/Weathermen conspiracy.
October 23rd, 2008 at 2:55 pm
you’re slow.
Dr Helen figured this out three weeks ago.
October 23rd, 2008 at 3:10 pm
mika’s wearing a cheap rug, right?
as smokey robinson said, “what a prize toupee!”
and what a prize asshole it’s on, too.
October 23rd, 2008 at 3:25 pm
Um, all three agreed that Fannie and Freddie were a “significant factor” contributing to the crisis.
I think that’s right. Those who try to make it the only factor are wrong, and so are those who try to argue that it was hardly a factor at all.
October 23rd, 2008 at 3:28 pm
Did John Snow in his testimony note that not only was he Sec. of Treasury, he’s smack dab in the heart of the mess?
John Snow is head of Cerberus private equity, who happens to own GMAC, which happens to own Rescap which is one of the big mortgage companies currently losing money.
October 23rd, 2008 at 3:40 pm
You should look at that video more carefully. All 3 witnesses are GOP hacks and thus they don’t *really* disagree with Mica. In fact they use phrases like “significant cause” and “one of the primary causes”. Sure they’re not agreeing with the true wingnuts that freddie and fannie were the SOLE causes of the meltdown, but i think even the crazies would concede this point and argue that they were the “significant” “primary” causes. This is still not factually correct, but my comment is merely meant to caution folks from relying on greenspan/cox/white to correct the nuttiness of the House GOP.
October 23rd, 2008 at 3:44 pm
If Matt would be so kind as to yield a minute of his time for a comment from the floor? Yes? Thank you. I would like to call attention to some breaking news, courtesy of Duncan Black: Newt Gingrich is a syphilitic goatfucker.
October 23rd, 2008 at 3:52 pm
MattY is indeed slow. When you mix red and blue you don’t get purple but another color. To help MattY understand what that color might be, do a find for ‘Snow’ here. For a more recent example of that mysterious color, see this.
October 23rd, 2008 at 4:27 pm
Mica’s in a district that Obama can expect to win 51-49. But he has no viable opponent. It’s a total mistake. At least it looks like Ric Keller will lose.
October 23rd, 2008 at 4:42 pm
as smokey robinson said, “what a prize toupee!”
Damn, that’s one fine mondegreen.
October 23rd, 2008 at 5:39 pm
Uh, Fannie and Freddie jumped late and lacksadasily onto the bandwagon.
So, yeah, inasmuch as they were a market player, they were a contributor to the crisis.
But because they were government sponsored entities and had to operate under rules and limitations, they actually played a disproportionately SMALL role in this crisis relative to their overall size as players in the housing industry. Especially when compared to the free market operators they were competing with.
They were desperate to be as stupid as everyone else in the free market. Inasmuch as Congress let them act like everyone else in the free market, they threw gasoline on the fire. But, uh, that’s not an indictment of them. It’s an indictment of the unregulated Wall Street paradigm that’s been supported by every Republican since Reagan.
October 23rd, 2008 at 6:56 pm
It’s sad and kind of hilarious that a bright man like Greenspan has to sit in on this rant, and actually answer the guy’s stupid rhetorical questions.
October 23rd, 2008 at 11:11 pm
Mr Mica’s accusations about Obama are poorly formulated. Nearly all the Freddie Mac and Fannie Mae related funds donated to him are from individuals (see http://www.opensecrets.org/news/2008/09/update-fannie-m ae-and-freddie.html ), not PACs, and these contributions are related to his Presidential candidancy, as a more detailed search clearly indicates (see, for example, http://www.opensecrets.org/pres08/search.php?cid=N00009 638&name=%28all%29&employ=fannie+mae&state=%28all%29&zi p=%28any+zip%29&submit=OK&amt=a&sort=A )
October 23rd, 2008 at 11:13 pm
sorry, try these: http://www.opensecrets.org/news/2008/09/update-fannie-mae-and-freddie.html
http://www.opensecrets.org/pres08/search.php?cid=N00009638&name=%28all%29&employ=fannie+mae&state=%28all%29&zip=%28any+zip%29&submit=OK&amt=a&sort=A
October 26th, 2008 at 10:03 pm
Nicholas,
“Mica’s in a district that Obama can expect to win 51-49.”
Do you have a source for this?
As for his opponent, Faye Armitage, she’s an economist. I would consider that very viable in today’s tanking economy.
Find out for yourself:
http://www.youtube.com/watch?v=ThFuQgC6GAg
October 27th, 2008 at 12:38 pm
Faye Armitage can beat tatterdemalion JOHN L. MICA.
Excerpt from my column in yesterday’s St. Augustine Record:
Guest Column: Suggests candidates for election
ED SLAVIN
St. Augustine
Publication Date: 10/26/08
Abraham Lincoln warned about politicians who “fool the people.” Let’s not be fooled again. Therefore, I respectfully recommend:
5. Electing to U.S. Congress Faye Armitage of Fruit Cove — an economist, mother of five, grandmother of three, she raised a disabled son (her son-in-law is in Iraq). Eight-term incumbent John Mica is way too big for his britches, a national embarrassment. Mica’s voted against raising the minimum wage and granting (unpaid) family and medical leave. Mica never apologized for taking money from the likes of convicted lobbyist Jack Abramoff or head-butting an ABC News cameraman upon leaving Tom DeLay’s lobbyist party. Mica’s spends special-interest campaign contributions on travel/hotels/casinos/restaurants/bars/private clubs. See http://www.cleanupcityofstaugustine.blogspot.com. Ungracious Mica’s guilty of goading “liberals,” President Clinton (”a little booger”) and social welfare recipients (”don’t feed the alligators”). But as Record Senior Writer Peter Guinta reported, Mica’s given earmarks to campaign contributors (that’s corporate welfare). Mica wrote that he flew to Tibet to sell airplanes to China for Boeing (whose PAC contributed thousands to Mica’s campaigns). Economist Armitage will represent all of us and we can be proud to say that we finally have a Congressman who works to help people like us. No ninth term for Mica.
… Our founders’ vision will prevail over “social dominators” led by the Karl Roves of the world — the mean-spirited few who boss, bully, divide and gull people.
Leaders will want to discuss Congressional enactment of a St. Augustine National Historical Park, National Seashore and National Scenic Coastal Highway, welcoming the world to observe 11,000 years of indigenous Indian history, and 500 years of Hispanic, African-American, British, French, Minorcan, and other world cultures.
Vote.
Ed Slavin first wrote national park legislation for former U.S. Sen. Jim Sasser, D-Tennessee at age 20 (the proposed Great Smoky Mountains Wilderness Act) in 1977. On Nov. 13, 2006, Slavin proposed a St. Augustine National Historic Park, National Seashore and National Scenic Coastal Highway Act.
Click here to return to story:
http://staugustine.com/stories/102608/opinions_1026_058.shtml
© The St. Augustine Record
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