Goode: Fear the Beard, Part 2

By: KFP
Published On: 10/10/2008 10:41:39 AM

Virgil continues to run the most absurd negative attack ads in the 5th District.  They are both factually incorrect and use misguided scare tactics of  doom & gloom advertising in an attempt to put the fear of God into voters.  But they are having an adverse effect in the district.

http://www.raisingkaine.com/sh...

Here's a a spin on these ads: Fear the Beard, Part 2...the facts are below.


Here are the facts (none of which you will see in Goode's ads):

Goode has taken over $150,000 from banking and financial interests. [Center for Responsive Politics, www.opensecrets.org

July 1, 1999: Rep. Goode voted for the Financial Services Act (Gramm-Leach-Bliley Act) which repealed regulations put into place during the Great Depression to keep banks from taking risks that would lead to another financial meltdown. [H.R. 10, Vote #276, 7/1/99]

December 15, 2000: Rep. Goode voted for the Commodity Futures Modernization Act of 2000, another Phil Gramm bill, that created the Enron loophole that allowed for the deregulation of the commodity markets, and also banned regulation of credit default swaps, which is what ultimately led to the downfall of insurers like AIG. [H.R. 4577, Vote #603, 12/15/00]

November 15, 2007: Rep. Goode voted against the Mortgage Reform and Anti-Predatory Lending Act, which would crack down on mortgage lenders by forcing them to get licenses, making them responsible for discovering whether borrowers can really repay, and fining them for steering people toward risky subprime loans. [H.R. 3915, Vote #1118, 11/15/2007.]

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