Palin’s answer to the first question -no matter what the question is (remember how these folks often just go where they want without answering the question, as Obama did when asked what programs he’d cut):
I know the country is in a financial crisis and I assume many of the questions tonight will be, appropriately, along that line. I just want to point out a couple of things of which the media seems unaware. Now I know they like attacking me, and that’s fine, but let’s at least get the record straight before we start an entire debate on false premises, OK?
In 2003, as reported by the New York Times, the Bush Administration was presented with an evaluation of Fannie Mae and Freddie Mac that basically said the insitutions were cooking the books to increase executive bonuses. Some people went to jail over this.
Bush responded by proposing legislation to provide even more regulation and oversight of these institutions. Contrary to what our opponents and the 9%-approval Democrat Congress are telling the media – and that nice objective media is telling Americans – it was Bush who proposed additional heavy regulation. As the New York Times wrote on September 11, 2003: “The Bush administration today recommended the most significant regulatory overhaul in the housing finance industry since the savings and loan crisis a decade ago.”
Sen. McCain supported this legislation; it would have prevented this financial meltdown.
Why didn’t it become law?
Because the Demcrats, yes, including Sen Biden and Sen Dodd and Sen Schumer and Congressman Frank, all opposed this legislation, saying, ‘We don’t see any problem here.’ So – it was the GOP who wanted to regulate this and clean it up once it was found that the officials were cooking the books, and it was the Democrats who refused this attempt at regulatory oversight.
Further, in 2005, Sen McCain sponsored legislation – again – to try to fix this problem. It was turned down by Democrats.
And where are the officials of Fannie and Freddie now? Having been paid tens of millions of dollars in salary and bonuses by the institutions they wrecked, they are senior financial advisors to the Obama/Biden campaign. I guess the theory is that cooking the books of Fannie and Freddie – giving America a trillion-dollar financial mess – is just the right kind of experience necessary to create and manage a three-trillion-dollar Federal budget, takeover America’s multi-billion dollar healthcare system and increase our taxes, as Senators Obama and Biden insist they will do as, evidently, our patriotic duty.
Biden gets set back on his heels and instantly becomes a gaffe-o-matic. Obama whines about “Old politics,” but can’t refute any of what the NY Times wrote. The public finally understands how we got here, who wanted to stop it, who prevented stopping it — and votes McCain in and the Demo Congress OUT.
And it’ll take her about 30 seconds to destroy Biden, Obama, the moderator — and the rules about the audience being quiet.
Will she – or McCain – have the guts to do it?