Campaigns Go After Each Other's Economic Advisers

The tussle between the campaigns over economic matters has turned into a back-and-forth over friends and advisers.

On Friday morning, the McCain campaign released a new ad criticizing Barack Obama for employing the former Fannie Mae CEO, Jim Johnson, as the head of his vice presidential steering committee. Johnson, one might recall, was pushed out of the position after it became clear that he got a favorable deal on his own house loan. But he's still apparently fair game for McCain.

ANNCR: What Obama says...

BARACK OBAMA: It would be unacceptable for executives of these institutions to earn a windfall.

ANNCR: ...Is not what he does. Meet Jim Johnson, former Fannie Mae CEO. Fannie cooked the books and Johnson made millions.Then Obama asked him to pick his VP. And raise thousands for his campaign. Barack Obama. More empty words.

Meanwhile, Obama has a spot up about advisers to McCain. Released the night before McCain's spot, it starts by pointing out that the Senator, himself, "admits he doesn't understand the economy."

"So who advises him?" the ad asks, before pointing to Carly Fiorina (and her $42 million golden parachute she received from Hewlett Packard), Phil Gramm (and his "nation of whiners" comment), and the president (who Obama never shies away from tying to McCain).

It's hard to know how strong these guilt by association spots will be, but McCain (perhaps hoping to rip a nugget of good news from a dreary political week) is going hard after Obama on the front. Friday morning, the first 15 minutes or so of McCain's speech in Green Bay, Wisconsin were all about Johnson and former Fannie Mae chief Franklin Raines. Raines is accused of steering the housing giant towards collapse while receiving millions in compensation -- but his ties to Obama are tenuous.

Comments

[INDmind]

Don't forget Antoine Rezco, William Ayers, Rev. Wright, etc. etc.

[Whinger]

John, you are complicit in the Bush policy failures on all fronts!

The people see thru your Pontius Pilate routine, your hands are stained with innocent blood.

[PioneerKing]

The Keating 5 scandal was more than 17 years ago and time has not changed McCain's pathology.
McCain's family is involved in a 21st century Keating scandal and the main sream media has given McCain a pass on it. It seems that banking scandals are a family affair for the McCains.

Current problems are similar to the problems that caused Silver Star Bank to fold.

McCain's son Andrew was involved in Silver Star Bank costing American taxpayers billions of dollars in debt, just as the Keating Five scandal left American taxpayers with billions of debt.

"Nevada regulators closed Silver State and the FDIC was appointed receiver of the bank, based in Henderson, Nev."

"Silver State Bank ran into difficulty because of a substantial amount of "poor-quality loans primarily related to real estate development" in southern Nevada and other distressed markets, FDIC spokesman David Barr said. "

"Not a single reporter in the main stream media has looked how the McCain's were able to have their family investments and their family foundation's interests protected while Silver State went belly up."

"MSM has ignored the McCain's Wall Street portfolio and the investments of McCain's campaign advisors that will be protected by the bailouts."

http://www.cbsnews.com/stories/2008/09/06/business/main4422652.shtml

http://www.huffingtonpost.com/jayne-lyn-stahl/andrew-mccain-resigns-fro_b_115233.html

http://www.faulkingtruth.com/Articles/BlogFest/1097.html

[INDmind]

So the Rush ad put out by Obama.....does this fall into this category or not?

Or was it simply made up?

[forbarackinmichigan]

Happy Friday to All.
The polling numbers are headed in the right direction.
People are coming down from the Palin buzz, reality is setting in.
McCain keeps stumbling.
And Obama's message is clear.

We still need to get to work registering voters, donating money and time, and making sure everyone who wants to vote on election day is not denied the opportunity.

Vote early and vote often!

[INDmind]

I thought the people here ignored the polling?

[INDmind]

Vote often? What does that mean?

Are you from ACORN?

[care4mypeeps]

Happy Friday: Thank you for your optimism it has given us a boost.
Your message is loud and clear and we are on it.

We are encouraging everyone we know and challenging them to just think about their position, void of any talking points and visualize the whole Nation and the problems we face and think about solutions rather than towing the party lines.

When all is said and done, Obama Biden best matched the solutions our problem solving pointed to.

We must continue to challenge hard nose stubborn blind loyalty that puts at risk the Whole Nation.

[TakingBackTheUSA]

I've seen one mention so far as to McCain's past history with the Keating 5. Of course Repubs are quick to argue that McCain was never found guilty of anything. My concern is that apparently McCain did not learn his lesson and he has taken 5 million in bundled cash from the Keating firm for his election campaign. I would say that makes his Keating 5 history fair game, so why are there no reports on the matter?

[care4mypeeps]

We have a powerful voice, and because we raise the questions in the bloggersphere the Media does take note as to what the chatter is about.

The Keatin 5 will become a story again because the Wall Street Crises has demanded a second look by telling its story of the collapse of Freddie Mac and Fannie Mae.

It is poetic justice that the only safe way for the Obama camp to have the Keating five mentioned is through a financial diaster.

Now the American people will have the facts of the scheme that set this disaster in motion.

[chitown8]

Also in the Mccain add he say Obama has not experience in economics. Neither does he what Keating 5?

[tel8034]

Why doesn't Obama shut McCain up once and for all.

WHY DOESN'T OBAMA REMIND THE AMERICAN PEOPLE THAT WE SAW THIS KIND OF FINANCIAL CRISIS BEFORE WITH THE SAVINGS AND LOAN BANKS?

WHY DOESN'T OBAMA COME OUT AND TELL THE PEOPLE HOW THE KEATING 5 WAS INSTRUMENTAL IN THAT SAVINGS AND LOAN CRISIS?

WHY DOESN'T OBAMA REMIND PEOPLE THAT McCAIN WAS A MEMBER OF THE KEATING 5?

WHY DOESN'T OBAMA JUST COME OUT AND SAY IT?

[care4mypeeps]

Be patient. It will all come out. Remember that the Republicans has put Obama in a no win situation. He is using wisdom as to how he will handle situation and still have his dignity intact and make us proud.

Panic is not something that will bode well for us. We have to keep our witts about us and support Obama with confidence. He has done us proud so we owe it to Obama and Biden and make them proud of our efforts to keep it together.

We Are Not Defeated.

[ilrslr3]

PumAnn

Raines was President Clinton BUDGET DIRECTOR belive me if Hillary was running there would be a lot more attacks on her and they would not be lies.

[drzoon]

.

EXACTLY
.

[kissmygrits]

Raines's ties to O-bama are nonexistent, not tenuous. Oh, wait, he's black, right? So that's enough? Blech.

[BethStuart]

I think Obama's economic advisors are Paul Volcker, Larry Summers and Bob Rubin.

Alleged connections to Raines and Johnson are red herrings.


McCain's connection to Phil Gramm is real.

[thefallen]

We'll have to see if the Washington Post prints a retraction for it's repeated claims that Raines is an Obama advisor. Johnson however was an integral part of bama's campaign until he was ousted. And he=is removal had nothing to do with Fannie .

[care4mypeeps]

Your absolutely right. And that was a deliberate attempt to cast race to the forefront.

[PumaAnn]

Mac's new ad today is out, linking Freddie to O. *ouch!*

[drzoon]

Jim Johnson was NEVER an economic adviser to Senator Obama.

He sent an email to the Mc Cain campaign liars earlier in the week to make it clear to them. They didn't respond.

[Pupster]

Unfortunately, McCain has resorted to lying again. Fred Raines was never part of Obama's team, ever. And Jim Johnson was only briefly on the VP search team, though he was let go almost right away.

Yet what can McCain say about his long history as a deregulator? To watch him scuttle away from his record like a cockroach when the light is turned on is rather embarrassing. And his attack on Chris Cox, as though Cox was more responsible for what happened than McCain, is so disingenuous and desperate. He's probably lost every Repub (and anyone else) who are familiar with the capital markets and McCain's sad role in it.

[abigail1]

yeah, but it's a lie. Ouch!

[Hardtostop]

HEY, RETHUG - SAY KEATING 5 ten times real fast - Oh right didn't Phil Gramm push thru a deregulation bill in the last minutes of congress that saw him and his wife (Head of a commission he made up) make 5 million dollars and then she joined ENRON after Bush 1 left office. Wait isn't Phil Gramm the architect of McSames Economic Plan? Makes you want to go HMMMMM!!!!

[IslandGyal]

EARLY & ABSENTEE VOTING Information; Please forward this link.

http://www.earlyvoting.net/states/abslaws.php

[DieHardObamaSupporter]

McLobbyists is trying to call someone out, when he has what's the number 17 lobbyists advising him.


Those with 7 houses + 17 lobbyists shouldn't throw stones.

[klimtone]

"Raines is accused of steering the housing giant towards collapse while receiving millions in compensation -- but his ties to Obama are tenuous."

Tenuous? He has no ties with Obama!

[sueno]

If this is about experience, why aren't reporters talking about McCain's past experience ?
The media is just as responsible for lying to the American people and keeping up the "ruse"
against us provided by the candidates.
Why are we not talking about the Tri-lateral Commission, Keating 5 and
the many people responsible working for McCain. People who planned this
economic strategy years ago, including Bush's father are responsible
and profited.