Posted by: Sanity Rules | June 11, 2008

Obama’s Latest Scandal & McCain Acts like Big Brown

The lastest “Scandal” for Obama is really anything but a true scandal:

CHICAGO (AFP) – Democrat Barack Obama was roiled by another campaign scandal Wednesday when a key advisor resigned amid damaging reports that he had received preferential home loans. The accusations could dent Obama’s image as an untarnished newcomer who has vowed to clean up Washington politics.

Johnson, a former chief executive of mortgage giant Fannie Mae, resigned just hours after Obama took part in a round table in Chicago highlighting the impact of predatory lending on Americans.

Johnson has denied a weekend Wall Street Journal report that he may have received favorable treatment from Countrywide Financial — a bank Obama has sharply criticized for its role in the subprime lending crisis — while he was at Fannie Mae.

But the Washington Post further alleged Wednesday that Johnson benefited from an earnings manipulation in 1998 which allowed the company’s executives to earn large bonuses, pocketing some 1.9 million dollars.

Obama said in a statement that Johnson had resigned because he “did not want to distract in any way from the very important task of gathering information about my vice presidential nominee.”

Please! If this is all the Washington Post has to throw at the guy, it is pretty lame. The UNPAID ADVISER was only involved in the VP Selection process, he wasn’t making decisions on FHA policy and on the Housing Crisis. McCain should actually gain some credibility and recognize the insignificance of this story and simply go after Obama on ISSUES.

People vote based on ISSUES and filter out this kind of static. Obama is weak on issues because his positions defy LOGIC.  For example, while calls for “Windfall Taxes” on oil companies energize his base, logic tells us that these added taxes would just be passed on to the consumer. If taxes are passed to the consumer, the price of gas goes up. NOT DOWN.

What does Obama want to do with the taxes collected from the oil companies, give back to the people in a massive tax cut? HELL NO!, he wants to spend it on “research” for alternative energies. This sounds great and so ecologically friendly, but who exactly gets the money? Whomever our pork barrel producing Congress decides. In the meantime, the price of a gallon will continue to increase. Not exactly a great decision from a person we expect to lead our country.

With this kind of plan, it sounds like Obama, is far from an untarnished newcomer to Washington politics, but instead a master of the inner-city Chicago pork politics game who is ready to feed at the national trough.

The American people are being short changed in this election by polished politicians on both sides with NO vision of their own. They may talk good, but the substance isn’t there.

McCain is acting like Big Brown at the Belmont and after early wins, seems to be plodding along or stuck in the gate in the main race.  He seems unable to articulate his positions clearly and unless he gets a shot of steroids soon, he will be out of this race.

If McCain can’t gain some traction, then we truly will be back to Jimmy Carter’s second term, which is the theme that McCain should be spending his time on. He needs to refresh the memories for all those who forget, or due to youth never experienced what a disaster the Jimmy Carter presidency was.

For more information on the actual effects of the 1980 “Windfall Profits Tax” please see the following link:

http://blog.nam.org/CRS%20Report%20on%20Windfall%20Profits%20Tax.pdf

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