McCain will protect your money |

McCain will protect your money

Dear Editor:

The current financial crisis is an awful shame for Americans. Most manage their assets responsibly and pay their bills. We work hard and take care of our families.

The Democrats have behaved shamelessly in blaming everyone but themselves. This problem began with Jimmy Carter in 1977. He enacted new rules, and was followed by Bill Clinton in 1995 instituting further declines in reasonable loan practices. The Bush administration warned on numerous occasions of the increasing banking exposure. In 2005 John McCain sponsored legislation for the purpose of changing the regulations on Fannie Mae and Freddie Mac to correct these abuses and stabilize the banking system. Barney Frank and Chris Dodd, both Democrats of the banking committees, killed the legislation. Franklin Raines, the former chairman of Fannie Mae, took $90 million in bonus and now is an adviser to Obama. Dodd and Obama received the highest donations from Fannie and Freddie. Dodd even received a sweetheart loan for his trouble.

Now the left-wing Democrats, including Obama’s supporters in Congress, blames someone else for their Socialist policy failures. Now they want, Obama included, to turn over an additional $700 billion of our hard-earned money to the federal government for distribution. The reason was to tap into your money for the benefit of the liberal Democrats. They wanted to siphon off money to ACORN, their radical left-wing action group. Only when John McCain stopped his campaign and showed up to work did your hard-working dollars become represented. Obama got the 3 a.m. call and his response was, just try to work it out and call me if you need me. That shows how poor his judgment is. He doesn’t have leadership qualities, just political ambitions.

A vote for John McCain will protect your hard-earned money from Socialism in the Democratic Party.

Gailen Smith


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