Webloggin » Democrats Responsible for Financial Mess Try to Pass The Buck to GOP

It would be nice if some Republican would get behind a microphone and put the blame for this financial mess right where it belongs; on the Democrats door step. Instead we hear from Democrats covering their butts.

Barack Obama and his Democratic colleagues in Congress blasted John McCain on Thursday, accusing him of injecting presidential politics into the high-stakes debate on Capitol Hill over economic bailout legislation.

The round of recriminations came after the two rival candidates left what was supposed to be a landmark summit with President Bush and congressional leaders without any agreement reached on how to solve the financial crisis. Aides and officials in the meeting said the discussion ended badly, with Democrats fuming at House Republicans over their refusal to drop objections to the administration’s proposal.

Letting the people in Congress that made this mess dictate the message is just as bad as sitting there and watching them create it. The Republican leadership needs to get a grip. If bloggers can do it they can too.

Today Gateway Pundit linked up the fact that Bush Called For Reform of Fannie Mae & Freddie Mac 17 Times in 2008 Alone… Dems Ignored Warnings.

Also, one of Fannie Mae’s main defenders in the House – Rep. Barney Frank, D-Mass., a recipient of more than $40,000 in campaign donations from Fannie since 1989 – was once romantically involved with a Fannie Mae executive.

Flashback to 2003 when Barney Frank defended his friends Freddie Mac and Fannie Mae from his position in Congress as Chairman of the House Financial Services Committee while pressuring banks to give risky loans to those that couldn’t afford them.

Here is what Barney Frank said on September 10, 2003.

Fannie Mae and Freddie Mac are not in a crisis. The more people in my judgment exaggerate a threat of safety and soundness, the more people conjure up the possibility of serious financial losses to the treasury, which I do not see, I think we see entities that are fundamentally sound financially and withstand some of the disaster scenarios. And even if there were a problem, the federal government doesn’t bail them out. But the more pressure there is there, then the less I think we see in terms of affordable housing.

A statement that Barney Frank partially repeated for the New York Times on September 11, 2003:

The more people exaggerate these problems, the more pressure there is on these companies, the less we will see in terms of affordable housing.

Now this lying jerk, one of the principle people behind the mess we are in today tried to point the finger at John McCain.

“He’s slowed it down,” Rep. Barney Frank, D-Mass., said of McCain’s impact on the negotiations.

The Obama campaign tried to make up for looking like fools when McCain suspended his campaign while Obama tried to show wisdom by not going to Washington until summoned by Bush.

“Make no mistake: John McCain did not ’suspend’ his campaign,” spokesman Bill Burton said in the memo, criticizing McCain for continuing to do media interviews. “He just turned a national crisis into an occasion to promote his campaign. It’s become just another political stunt, aimed more at shoring up the senator’s … political fortunes than the nation’s economy.”

Says the campaign of the man that is so politically stupid that he spent a paltry two years in Congress and ended up becoming the second biggest recipient of contributions from the failed mortgage lenders behind Christopher Dodd; one of the people supposedly trying to fix it today. (It took Dodd 7 years to amass his take of the pie).

The Democrats want to close the book on this problem and act like they did something. It’s prudent to remember that they are the problem and any solution should not be rammed down the throats of Americans. Good leadership doesn’t rush to make one of the most important decisions of our lifetime without looking at all sides and considering the alternatives.

Funny how these negotiations seem inticately tied to McCain. Obama seems like he’s hanging around just so his name can get mentioned. Watch the developments. If any deal is made it will likely come on the heels of a leadership move by John McCain.