Twittering the debate, I questioned this statement by Biden and NPR fact-checked it.
Addressing some of our fact-check backlog — wolkingsworld
Tweeted early in the debate wondering about Biden’s statement that Obama sounded the alarm two years ago about subprime mortgages.
Our fantastic reference librarian Mary Glendinning found this from The IRE Journal March 2006 – April 2006 (a publication of Investigative Reporters and Editors, Inc.):
…The reaction to our five-part series was swift. Citing the Tribune’s report, U.S. Sen. Barack Obama called on the Senate Banking Committee to hold hearings on “the growing predatory practice of mortgage fraud.”…
A Chicago Tribune article about Obama’s call for a hearing reproduced on Obama’s website.
The Baltimore Sun has the blurb that was featured in the Tribune. Here’s how it ends:
Obama asked the committee to “hold hearings as soon as possible.”
While Obama was asking a committee to hold a hearing, what was McCain doing? Sponsoring the Federal Housing Enterprise Regulatory Reform Act that was introduced three weeks after Obama entered the Senate. Where was Obama on that?
Where was Obama when McCain said this on the Senate floor in May 2006:
For years I have been concerned about the regulatory structure that governs Fannie Mae and Freddie Mac–known as Government-sponsored entities or GSEs–and the sheer magnitude of these companies and the role they play in the housing market. OFHEO’s report this week does nothing to ease these concerns. In fact, the report does quite the contrary. OFHEO’s report solidifies my view that the GSEs need to be reformed without delay.
I join as a cosponsor of the Federal Housing Enterprise Regulatory Reform Act of 2005, S. 190, to underscore my support for quick passage of GSE regulatory reform legislation. If Congress does not act, American taxpayers will continue to be exposed to the enormous risk that Fannie Mae and Freddie Mac pose to the housing market, the overall financial system, and the economy as a whole.
I urge my colleagues to support swift action on this GSE reform legislation.
Bottom line: Obama’s record is all talk. McCain’s shows action.
October 3, 2008 at 3:02 pm |
[...] Matt Wolking contrasts Obama’s call for hearings on the mortgage crisis to John McCain’s attempt to act on that back before we got the crap sandwich with yellow-but-not-Dew drink. [...]
October 5, 2008 at 4:30 pm |
Was doing a post looking for reference to this Obama claim to link to. Googled through several pages and yours was the first I found. Nice site, like the look and feel not to mention very good content and reference structure. Kind of makes me wish I hadn’t chosen blogspot years ago. Too late to change now. Oh well. Added you to my list so I can easily check in from time to time.
October 7, 2008 at 12:21 pm |
I checked the info from NPR and Obama was talking about mortgage fraud. I don’t think that is the same thing as the subprime mortgages that got us into this mess. As a matter of fact, I’m about 99% sure it’s not the same thing.