866 Our Vote Fights Vote Suppression

post from Michael Alan Leon: MAL Contends . . . on 26 September 2008 12:59:00 PM. © Michael Alan Leon: MAL Contends . . .

Though Attorney General Van Hollen's voter suppression effort looks to fail, few doubt that the GOP has more tricks up its sleeve.

The nonpartisan Election protection coalition (http://www.866ourvote.org/) is fighting voter suppression and is a great resource. Look them up.

Any problems or concerns: Call 1 866 OUR VOTE (1 866 687 8683).

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McCain Aide's Husband Headed Trade Group Lobbying
on Bailout

post from TPMMuckraker on 26 September 2008 12:53:00 PM. © TPMMuckraker

It looks there's another John McCain adviser with a personal background that doesn't exactly jibe with the candidate's recent effort to portray himself as a populist crusader for ordinary folks.

Last week in Green Bay, McCain declared: "At the center of the problem were the lobbyists, politicians, and bureaucrats who succeeded in persuading Congress and the administration to ignore the festering problems at Fannie Mae and Freddie Mac."

Of course, as Barack Obama has pointed out, McCain's campaign is a virtual who's who of former lobbyists for Fannie and Freddie.

But another McCain adviser has close personal ties to one of the industries that, like Fannie and Freddie, spent too long assuring the public that the housing market was in good health, and thereby forestalling efforts that might have protected homeowners and staved off a crisis.

Nancy Pfotenhauer, a senior economic adviser to McCain, has been all over the airwaves in recent days touting McCain's decision to "suspend" his campaign over the bailout. But her husband, Kurt Pfotenhauer, worked until late last year as the top lobbyist for the Mortgage Bankers Association, a trade group that in recent years downplayed fears of a housing bubble, only to be proved spectacularly wrong.

When MBA released a report in 2005 on the state of the housing market, its chief economist told reporters: "There are risks but they're far less dramatic than the hyperbole of recent months." An MBA vice president added: "We're trying to dismiss the overheated rhetoric on bubbles." Part of the purpose of the ho-hum rhetoric, it would appear, was to discourage government regulators from looking more closely at the problems in the market, and ultimately taking action to protect homeowners. And many experts blame that regulatory inaction in the housing market for the current financial crisis now shaking the country.

Since January, Kurt Pfotenhauer, who did not immeduately respond to a detailed request for comment, has served as the CEO of the American Land Title Association, a trade association representing the title insurance industry. But during the current crisis, his old employer, MBA, has been at the center of lobbying efforts -- successful it appears -- to oppose a provision, sought by Democrats, that would allow bankruptcy judges to modify mortgages on primary residents. The lending industry has long fought such measures, arguing that it would force lenders to increase mortgage rates. In a statement issued yesterday, the MBA asserted that the provision "would throw into question the value of the collateral that backs every mortgage made in this country -- the home." According to one Democratic lobbyist, MBA's current top lobbyist, Francis Creighton, has lately been "living in the halls" of Congress in an effort to influence lawmakers on the bill.

Allies of Kurt Pfotenhauer have lately been willing to tout his ties to the McCain campaign, through his wife, to bolster his professional credentials. An advanced notice of a speech Kurt was to give last week to the Indiana Land Title Association (ITLA), an ALTA affiliate, published in an Indiana newspaper and seemingly written by the ITLA, noted that he would "provide a public policy update from the nation's capital, with an emphasis on the housing and mortgage finance crisis." It added: "His wife, Nancy, is a senior advisor and national spokesperson for presidential candidate John McCain."

Of course, there's no reason why Nancy Pfotenhauer's career should be limited by her husband's lobbying work. But at the very least, Kurt Pfotenhauer's recent role as an advocate for banking interests that discouraged regulators from paying closer attention to the problems in the housing market raises questions about the backgrounds of the advisers John McCain surrounds himself with -- especially in light of the recent populist turn of his campaign rhetoric.

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McCain Will Debate

post from Daily Kos on 26 September 2008 12:52:06 PM. © Daily Kos

John McCain retreats and declares victory, or something. Campaign statement:

Senator McCain has spent the morning talking to members of the Administration, members of the Senate, and members of the House. He is optimistic that there has been significant progress toward a bipartisan agreement now that there is a framework for all parties to be represented in negotiations, including Representative Blunt as a designated negotiator for House Republicans. The McCain campaign is resuming all activities and the Senator will travel to the debate this afternoon. Following the debate, he will return to Washington to ensure that all voices and interests are represented in the final agreement, especially those of taxpayers and homeowners.

This whole ploy doesn't seem to have worked out quite as he'd planned.

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Democratic leadership ‘effectively
shelves’ Iran resolution.

post from Think Progress on 26 September 2008 12:52:00 PM. © Think Progress

The Democratic leadership in the House “effectively shelved” a proposed non-binding resolution that “critics say would amount to a naval blockade of Iran because of concerns that it could provoke another war, officials on Capitol Hill said.” The Washington Times reports:

Even though the document would not be a law but a “statement of policy” aimed at preventing Tehran from obtaining a nuclear weapon, the Democratic leadership is worried that it could be viewed by the Bush administration as a green light to use military force against Iran, officials said. […]
The draft “demands that the president initiate an international effort” that would impose “stringent inspection requirements on all persons, vehicles, ships, planes, trains and cargo entering or departing Iran.”

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THANK THE PRESS.

post from Ezra Klein on 26 September 2008 12:51:00 PM. © Ezra Klein

Good post from Matt:I hope [McCain] understands that a president can?t actually govern a country like this ? debate on, debate off; against a takeover of AIG on Monday, for it on Tuesday; fundamentals of the economy are strong in early September,[...]

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=thank_the_press

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Shorter Bush on the Economic Meltdown

post from Crooks and Liars on 26 September 2008 12:50:35 PM. © Crooks and Liars

If you don’t give me da’ money then Saddam will nuke us. Further stress on our financial markets would cause massive job losses, devastate retirement accounts, further erode housing values,. And my administration did nothing wrong. Well, most economists agree that the problems we are witnessing today developed over a long period of time No sir. As [...]

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The Humiliating End To McCain's Stunt: He Will
Debate Tonight

post from TalkLeft on 26 September 2008 12:49:00 PM. © TalkLeft

The first line says it all:

Republican John McCain agreed to attend the first presidential debate Friday night even though Congress doesn't have a bailout deal, reversing an earlier decision to delay the forum until Washington had addressed the financial crisis.

(Emphasis supplied.) It was always a political stunt, putting John McCain first, ahead of the country. It now has proven to be a humiliating failure of a political stunt that proved what most of us already know - John McCain will say or do anything to win an election.

By Big Tent Democrat, speaking for me only

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Fearguth’s Great Snark Hunt

Kathleen Parker Calls for Sarah Palin’s Resignation,Joins Church of the Highly Improbable

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http://www.reachm.com/amstreet/archives/2008/09/26/fearguths-great-snark-hunt-293
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Why Voters Should Cut the Deal

Sorry Democratic leaders, but this is a partisan crisis.According to one GOP lawmaker, some House[...]

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Mettle

Didn't Barack Obama just make John McCain flinch?Late Update: Numerous readers are informing me that I am incorrect -- that McCain didn't 'flinch' but rather 'blinked'. I can live with that. [...]

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