Tuesday, October 14, 2008

more about that letter

In two separate debates now, Sen. Obama has mentioned a letter he wrote to Paulson and Bernanke about the need to "reign in" Fannie Mae and Freddie Mac's practices that have now proven to have been too risky.

Really? A letter?

A man who is ONE OF 100 PEOPLE in the country who get to say "I'm a U.S. Senator", a man who already had established himself as telegenic and rather eloquent, and a man who, due to his history as a community organizer, offered a unique perspective on how the drive to subprime loans held a danger to our entire financial sector, realized that things were starting down a slippery slope. . .and he wrote a letter.

Can you say "pathetic"?

Seriously, IF he happens to mention it again, I hope McCain points out the sheer wimpiness of this response.

The American people PAY Senators to lead and to legislate, not to write letters. At the very least, Obama should have gone in front of cameras and foretold of the potential downfall that was being played with by FM/FM. But it's more realistic to say that he should have supported the legislation that was already written that sought to reign in Fannie and Freddie, which, of course, is legislation that McCain supported. Where was Obama?

And if that piece of legislation wasn't enough, then, yes, he should have written. . .another piece of legislation.

Not a letter.

Secretary Paulson didn't need a pen pal. He needed people with foresight to help him avoid this situation.

Obama MAY have had the foresight (I, personally, still doubt it. I'd love to see the contents of the letter). But that doesn't do any good when he lacks the fortitude to act in the interests of this country.

On that score, he failed massively. MASSIVELY.

And I hope McCain isn't shy in pointing that out.


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