More Proof McCain Was on the Right Side of Financial Reform When it Mattered

At the same time Barack Obama was at the bank cashing the checks from Fannie Mae!

“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.” –John McCain, May 26, 2005

John McCain made that statement in support of a bill by Senate Republicans which would have reformed Fannie Mae and Freddie Mac before it was too late.

But it wasn’t his only effort to get attention on this key issue when action could have averted a crisis. The following letter McCain signed along with nineteen other GOP Senators (neither Barack Obama nor ANY Democrat Senator signed) was issued a few weeks before McCain’s Senate speech.

Both pages of the letter with additional signatures here.

Obama may give a great speech, but McCain takes action!