Friday, October 17, 2008

Moore's ties to the financial crisis exposed!


Nick Jordan’s campaign announced yesterday that just last year, Moore and five other house members sponsored a bill to regulate Fannie Mae and Freddie Mac.

This euphemistic bill, however, included an amendment that "guts the one provision that made it worth the effort,” according to the Wall Street Journal. Federal regulators would not longer be able to adjust or limit the size of loans issued by the mortgage giant—even if they were too large and might pose risk to the financial system.

Of course, we all know that the mortgage mess led to the collapse of the housing bubble, the increase in debt, the failure of many financial institutions and the current financial crisis. We now know that not only was Dennis Moore partially to blame, he willingly and proactively blocked the very regulations which would have prevented the financial meltdown.

Is this a surprise? Of course not—Moore has accepted campaign contributions of more than $30,000 from Fannie Mae and Freddie Mac. He’s just looking out for his friends, giving them political favors and paying them back in a typical Washington, political quid pro quo, the kind of corrupt and abusive politics Americans detest.

Even more astonishing and in the same vein, Moore received $34,000 in contributions from companies that benefited from the $700 billion bailout passed just a few weeks ago.

10 years of corrupt, status quo politics or a fresh new face with years of verifiable accomplishments on the state and local level? That will be for the voters to decide on Nov. 4th.

4 comments:

ScottSolo said...

Dump Dennis

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