The Biden Factor: Looks like politics as usual to me.
WASHINGTON (AP) — Joe Biden says the government's rescue of the big mortgage companies Freddie Mac and Fannie Mae should not mean bailing out shareholders at the expense of taxpayers.
The Democratic nominee for vice president says it is important to help homeowners and make sure the two companies still are in a position to keep making loans.
An announcement is expected late Sunday morning from the Treasury Department and federal regulators that the government is assuming control of the troubled mortgage companies. The goal is to shore up the mortgage market.
Biden tells NBC's "Meet the Press" says some big decisions about the companies' future will be left to the next president and Congress.
John McCain 54% Barack Obama 44%
[John K. Matyi] This is the USA Today/Gallop Poll from September 5-7, 2008. They polled 1,022 "Likely Voters" (including 959 registered voters). Now certainly this is part of the "Convention/Palin Bounce' that was expected, but since Obama became the Democratic nominee (in their convention) and McCain became the nominee for the Republicans; Obama popularity has been going down and McCain's has been going up. We keep hearing the (mostly liberal) pundits telling us how the Hillary Clinton voters, the Reagan Democrats would never vote for a McCain/Palin ticket, but it seems they may have been praying rather than telling the truth.
Lets go back now to the AP article about how Biden wanted to protect the homeowners, not the shareholders. I would not be so presumptuous as to give Joe Biden a simple lesson in basic economics (well, maybe I would). But who does he think the "Shareholders" are? It must be those nasty rich people who control Wall Street, right? Or maybe it is the big corporations, right? No and no! Do you have an IRA? Are you invested in a 401k at work? Are you a government worker putting 5 or 10% of your bi-monthly paycheck into the Thrift Savings Account? Do you own Mutual Funds? Yes, yes, yes, and yes. Sorry Joe, you probably didn't realize it but this time you are pitting the same people against each other.
If he had said "it is important to help homeowners and make sure the two companies still are in a position to keep making loans" and then shut up, but he didn't (couldn't?). I think the Obama machine is staying up nights wondering how they will be able to get Joe off the ticket or at the very least get him to shut his mouth. It will not only be the Palin addition to the McCain ticket that will give this election the edge, it will be the 'Biden Factor' that may win the election for the conservative voters.
Always remember you heard the "Biden Factor" here first.
Add a Comment



Comments