After publicly accusing Obama of being in the pocket of the mortgage industry (based largely on the claim that Raines was an Obama adviser, which has since proven to have no basis in fact), it turns out that McCain's campaign manager, Rick Davis, headed an astroturfing organization financed entirely by Fannie Mae and Freddie Mac. You know what they say about glass houses.

"deregulation-minded Republicans"
of which McCain was one.

so he says, anyhow.

Update...Rick Davis was paid by Freddie Mac until LAST month.

John McCain 2005 - 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.

I urge my colleagues to support swift action on this GSE reform legislation.

http://www.govtrack.us/congress/record.xpd?id=109-s20060525-16&bill=s109-190

Congress, ignored this as well as GWB, but let's blame McCain, the one who warned of this mess three years ago and simply ignore the real culprits.

Quick InfoS. 190 [109th]: Federal Housing Enterprise Regulatory Reform Act of 2005

Last
Action: Committee on Banking, Housing, and Urban Affairs. Ordered to be
reported with an amendment in the nature of a substitute favorably.

Status: Dead

Okay, so McCain was one of four Republican co-sponsors of a bill to "reform" (i.e., privatize, more or less) the GSEs in January 2005 that died in a Republican-headed committee six months later. A year later he hires one of their top lobbyists as his campaign manager, who remains on their payroll until, um, last month. Whose side do you figure McCain is on?

I could give a damn less if it were Dem or Rep Controlled Congress - CONGRESS was and is the problem. Who he hired does not negate the fact he tried to get regulation in place to prevent this mess and Congress as a whole ignored it. I blame both parties and Bush however I do not blame the one who foresaw the mess but was ignored.

Yes, he used the word "reform" in 2006. Do you actually know what his proposed "reform" consisted of?

Are you really that damn dense? If you can not derive his meaning from his statement you never will.

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 will not be happy unless I concede it was Barrack Obama who wanted the regulation and that only Republicans and especially McCain who opposed it so I will not bother to try it further. So you just go on blame the whole damn mess on the Republicans and McCain and keep telling us what a great guy that Obama is OK!

Actually I didn't say any of those things, and there's no need to be insulting.

What I asked was whether you understood the text of the legislation McCain sponsored, rather than the grandstanding speech he made about it. To me, the "reform" legislation sounded like it was more or less a classic fire sale. But maybe I misunderstood.