Obama rushes to adopt GOP stands

The post-crisis response of Democrats, including Obama, stunningly adopts important pre-crisis McCain and Republican principles.

On the credit-mortgage crisis, in 2005 John McCain co-sponsored S. 190 (Federal Housing Enterprise Reform Act of 2005). This bill sought to regulate Fannie Mae and Freddie Mac use of the secondary mortgage market.

This bill was blocked in committee by a straight line Democratic vote.

Flash forward to 2008 and Obama with the aid of the AP and networks tries to blame the crisis on McCain being "anti-regulatory."

While it's true that Republicans are hesitant to regulate, it was Democrats who found regulation of Fannie Mae and Freddie Mac unpalatable in 2005.

Could it be because Obama and other Democrats received six-figure campaign contributions from these entities, or that Obama had such a close relationship that he named the CEO of Fannie Mae to head his vice presidential search?

Was this politics over principle?

During this year's political conventions, Obama promised to play Robin Hood and raise taxes "on the rich." McCain and Palin promised numerous times to cut spending and use the veto power of the presidency to do so.

Flash forward to post-crisis on Sept. 23 and Obama suddenly and inexplicably urges "members of his own party to be just as fiscally tough as the most conservative Republicans" (reported by AP writer Mike Glover Sept. 24).

For years, Republicans have sought to remove the ban on offshore drilling. Obama and the Democrats mocked it and opposed it at every turn. It becomes a clear issue in the campaign.

Flash forward post-crisis to Sept. 23 and the Democrats decide to allow the ban on offshore drilling expire.

Timing is critical, and the country would have been better off if Pelosi, Reid, Obama and gang had given more careful thought to these issues prior to the crisis.

Steve Fallon

Palatine