The folks over at The Weekly Standard wrote this story on John Murtha's Freddie/Fannie Distortions. "(I)t's worth looking at the rest of his recent interview to get a sense of how he views the credit crunch. Here's how Murtha describes how we got into this financial mess:
Six months ago they said to me... Paul Kanjorski - who's on the Banking Committee said 'Fannie Mae and Freddie Mac aren't going to make it. A hundred banks are going to go bankrupt.' I said 'well what the hell are we doing about it? What do you mean?' I could hardly believe that. Finally the president kept saying things are all right. Well the president has no credibility. When he says something nobody believes that.
And so finally Bernanke and Paulson came over. Scared the hell out of us. I mean, scared us... made us... convinced us that we had to do something. And of course they sent a 3 pages thing over -- an open door."
JSchmidt of Brookfield, CT asks these questions of Kanjorski. "Murtha paints a picture that does not reflect reality. He is either foolish or dishonest--or both.And what of Kanjorski? Murtha says that Kanjorski knew 6 months ago that Fannie Mae and Freddie Mac were going under. That was well before the severity of the problem became fully apparent.Where were Kanjorski's warnings, and call for an immediate response?- None"
This information is consistent with Jim Lehrer's interview with Paul Kanjorski:
REP. PAUL KANJORSKI (D), Pennsylvania: Well, of course, I'm on the committee of jurisdiction, so I've been watching...
JIM LEHRER: The Financial Services Committee.
REP. PAUL KANJORSKI: That's right. I've been watching this disaster, if you will, unfold for probably two years now, and particularly since last August -- not this immediate past August, but the August before that, when the subprime mortgage problem was created.
In the meantime nobody told Barney Frank. On July 14,2008 he is quoted as saying "I think this is a case where Freddie Mac and Fannie Mae are fundamentally sound."
Paul Kanjorski, may I ask a few questions? What do I do now? When will stocks come back? When will I see my 401(k) rise? Can I still retire? What's next for home prices? Is my job safe? Can I count on my money fund? Will my taxes shoot up? You found a solution for your corporate friends now how about homeowners.
Showing posts with label Bernanke. Show all posts
Showing posts with label Bernanke. Show all posts
Friday, October 17, 2008
Saturday, September 20, 2008
Paul Kanjorski Supports George Bush
In Saturday's edition, September 20, 2008, of the Hazleton Standard Speaker there is an article titled "Kanjorski halts campaigning to help with economic issues"
In the article it states "Kanjorski said he would spend the weekend helping Paulson and Federal Reserve Board Chairman Ben Bernanke author legislation aimed at resolving the crisis." Paulson was a Bush appointment in 2006 and Bernanke was appointed to his position in 2005 by George Bush.
Ed Mitchell, Kanjorski's failing media guru, created commercials against Lou Barletta stating he supported George Bush. Now any "student of government", to borrow a Kanjorski phrase about stretching the facts, knows that Lou Barletta, as Mayor of Hazleton, never had an opportunity to support George Bush because Barletta has no vote in Congress.
If one were to look at how Paul Kanorski votes it is readily apparent that he has supported George Bush and the Republicans on more than one occassion.
Since the 2002 race, Mayor Barletta has become known for his strong opposition to illegal immigration. Kanjorski attacked Barletta's views on the issue in February, 2008, comparing Barletta to David Duke by saying, "What David Duke was to civil rights, my opponent has done that with immigration...He's used that issue the same way Duke used the civil rights issue." In the ensuing controversy, Kanjorski apologized for implying that Barletta was a racist.
However, it you look at Paul Kanjorski's campaign website you will see his own position against illegal immigration. It is titled "Curbing Illegal Immigration" . Here is what it states:
"Paul believes that we need secure borders and strong enforcement of laws already on the books to prevent illegal immigration. He opposes amnesty for illegal immigrants, and is a cosponsor of the Secure America through Verification and Enforcement (SAVE) Act. This bill would combat illegal immigration through stronger worksite enforcement, increased border security, and improved interior enforcement.
Paul has long been a supporter of making English the official language of the United States government because the use of English as a common language remains vital to our nation’s prosperity.
As a land of immigrants, America has prospered by attracting talented and ambitious people from around the world. Paul supports streamlining the process by which those who aspire to become Americans can immigrate to our country legally."
So if Lou Barletts is labeled a racist by Kanjorski and others, what does that make Kanjorski? Don't be swayed by Mitchell's campaign rhetoric designed to make you look right when you should be looking at his leftist tactics. Let Paul Kanjorsk stand on his record. His record includes giving taxpayer money and political donations to his family; His record includes admission of stretching the facts; His record of suppporting George Bush.
As for Paul Kanjorski supporting George Bush. Well, that is only true now. Let's see what happens come November.
In the article it states "Kanjorski said he would spend the weekend helping Paulson and Federal Reserve Board Chairman Ben Bernanke author legislation aimed at resolving the crisis." Paulson was a Bush appointment in 2006 and Bernanke was appointed to his position in 2005 by George Bush.
Ed Mitchell, Kanjorski's failing media guru, created commercials against Lou Barletta stating he supported George Bush. Now any "student of government", to borrow a Kanjorski phrase about stretching the facts, knows that Lou Barletta, as Mayor of Hazleton, never had an opportunity to support George Bush because Barletta has no vote in Congress.
If one were to look at how Paul Kanorski votes it is readily apparent that he has supported George Bush and the Republicans on more than one occassion.
Since the 2002 race, Mayor Barletta has become known for his strong opposition to illegal immigration. Kanjorski attacked Barletta's views on the issue in February, 2008, comparing Barletta to David Duke by saying, "What David Duke was to civil rights, my opponent has done that with immigration...He's used that issue the same way Duke used the civil rights issue." In the ensuing controversy, Kanjorski apologized for implying that Barletta was a racist.
However, it you look at Paul Kanjorski's campaign website you will see his own position against illegal immigration. It is titled "Curbing Illegal Immigration" . Here is what it states:
"Paul believes that we need secure borders and strong enforcement of laws already on the books to prevent illegal immigration. He opposes amnesty for illegal immigrants, and is a cosponsor of the Secure America through Verification and Enforcement (SAVE) Act. This bill would combat illegal immigration through stronger worksite enforcement, increased border security, and improved interior enforcement.
Paul has long been a supporter of making English the official language of the United States government because the use of English as a common language remains vital to our nation’s prosperity.
As a land of immigrants, America has prospered by attracting talented and ambitious people from around the world. Paul supports streamlining the process by which those who aspire to become Americans can immigrate to our country legally."
So if Lou Barletts is labeled a racist by Kanjorski and others, what does that make Kanjorski? Don't be swayed by Mitchell's campaign rhetoric designed to make you look right when you should be looking at his leftist tactics. Let Paul Kanjorsk stand on his record. His record includes giving taxpayer money and political donations to his family; His record includes admission of stretching the facts; His record of suppporting George Bush.
As for Paul Kanjorski supporting George Bush. Well, that is only true now. Let's see what happens come November.
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