McCain Demanded Action on Fannie Mae and Freddie Mac in 2006

October 12, 2008 · Filed Under Economy, John McCain, News ·  

There is a lot of finger pointing about which Presidential candidate tried to prevent the Fannie Mae and Freddie Mac situation, and Barack Obama has managed to convince many voters that he somehow sounded the alarm to protect the taxpayers if the two institutions were to fail.

But the facts present a different story than the Obama spin.

Senator McCain made a demand for regulatory action on Fannie Mae and Freddie Mac, which could have prevented the current financial crisis, as reported by HUMAN EVENTS.

McCain’s letter — signed by nineteen other senators — said that it was “…vitally important that Congress take the necessary steps to ensure that [Fannie Mae and Freddie Mac]…operate in a safe and sound manner.[and]..More importantly, Congress must ensure that the American taxpayer is protected in the event that either…should fail.”

Sen. Obama did not sign the letter, nor did any other Democrat.

Have a look at the letter:

Letter from John McCain and other Republicans on Fannie Mae and Freddie Mac

Meanwhile, Obama was on the side of the Fannie Mae 5.