Meet Obama's Economic Advisor

[Navy1960]

James A. Johnson

He was executive assistant to Vice President Walter Mondale during the entire Carter Administration (1977-1981). Later, he founded and headed Public Strategies, a private consulting firm, from 1981 to 1985 before leaving for Lehman Brothers.

Lehman Brothers you know they are right? !!!

From 1991 to 1998, he served as chairman and chief executive officer of the Federal National Mortgage Association (Fannie Mae), the quasi-public organization that guarantees mortgages for millions of American homeowners. Previously, he was vice chairman of Fannie Mae (1990-1991) and a managing director with Lehman Brothers (1985-1990).

[BFannie and Freddie yes we know who they are too[/B]

On May 22, 2008, Democratic Party officials confidentially divulged that Obama had asked Johnson "to lead the process" for selecting Obama's running mate.


So here we have a man that advises Obama on economic matters and chairs his VP vetting committee. Then we have Obama out there with his *mock outrage*. Well as I have stated many times, here we go with that *CHANGE* message. The interesting thing, too is on the Obama web page this is the same guy that hammers McCain about Charlie Black.

 

[Annie]

And others from those 'companies' have warm fuzzies for Obama, indeed giving him the highest contributions behind the chairman:


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[Annie]

And others from those 'companies' have warm fuzzies for Obama, indeed giving him the highest contributions behind the chairman:


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Oh well, seems stil no video here. Try you tube for obama friend, fannie mae ceo.

 

[sealybobo]

James A. Johnson

He was executive assistant to Vice President Walter Mondale during the entire Carter Administration (1977-1981). Later, he founded and headed Public Strategies, a private consulting firm, from 1981 to 1985 before leaving for Lehman Brothers.

Lehman Brothers you know they are right? !!!

From 1991 to 1998, he served as chairman and chief executive officer of the Federal National Mortgage Association (Fannie Mae), the quasi-public organization that guarantees mortgages for millions of American homeowners. Previously, he was vice chairman of Fannie Mae (1990-1991) and a managing director with Lehman Brothers (1985-1990).

.

The country started falling apart in 2000 when Bush & his Tom Delay/Abramoff cronies got into power.

He served from 91-98 when things were good you moron.

 

[AllieBaba]

He's a crook, pure and simple. He jumps in, screws things up, makes millions, then jumps out and uses his money to fund crooks who will assure his ability to continue.

 

[Chris]

He's a crook, pure and simple. He jumps in, screws things up, makes millions, then jumps out and uses his money to fund crooks who will assure his ability to continue.

He sounds like a Republican!

 

[AllieBaba]

No,he sounds like the fictional Republicans the Dems have imagined to divert attention from their own bad financial policies.

 

[rayboyusmc]

He's a crook, pure and simple. He jumps in, screws things up, makes millions, then jumps out and uses his money to fund crooks who will assure his ability to continue.

No, Ali, he sounds exactly like those Republican CEOs of all the currently failing financial instituions. They will all walk away with the millions you are bitching about but that's okay because you love republicans even if they are rich crooks.

Phil Graham is still McCain's advisor. He was a key to the whole current collapse with his bill in 1996 to stop the regulation.

CHECK TO SEE HOW MANY OF MCCAIN'S CURRENT ADVISORS ARE ALSO LOBBYISTS. SOME FOR COUNTRIES THAT ARE DICTATORSHIPS.

He also got more money from Merrill Lynch than any other candidate.

If you are going to attack the left, at least point out the same shit on your side.

 

[sealybobo]

No,he sounds like the fictional Republicans the Dems have imagined to divert attention from their own bad financial policies.

What are the Democrats bad financial policies? This should be good.

 

[rayboyusmc]

No,he sounds like the fictional Republicans the Dems have imagined to divert attention from their own bad financial policies.

Poor Spot, he drank too much koolaid.

Earth to Ali. Who has been in charge for the last 7 years. Hint: it starts with a bit "R"

How dare you still blame the Dems when you buttwads have been making all the rules? Please get a frigging life.

 

[Navy1960]

The country started falling apart in 2000 when Bush & his Tom Delay/Abramoff cronies got into power.

He served from 91-98 when things were good you moron.

You know sealy I would tell you about things democrats did, but I fear that *change* message has gone to your head. The facts don't seem to matter to you, but oh thats right a fact to you is *change* so that makes complete sense to me now. I know when he served, so by your logic let me see. Dick Cheney being the former head of Haliburton when "things were good you moron" and now serving as VP doesn't matter? I like that, I have to remember that the next time one of you democrats run off spouting your daily "marching orders"

 

[Chris]

Clinton - Eight years of peace and prosperity

Bush - Eight years of war and debt

 

[HoleInTheVoid]

As per sillybobo's request:

Mr. Frank contends that he favored "very strong reform" of Fannie Mae and Freddie Mac, even before Democrats took over Congress after the 2006 elections. To adapt a famous phrase, this depends on what the meaning of "reform" is. Mr. Frank did support a bill that he and others on Capitol Hill described as reform. But on the threshold reform issue -- limiting the size of the portfolios of mortgage-backed securities (MBS) that the two companies could hold -- Mr. Frank was a stalwart opponent.
In fact, Mr. Frank was publicly arguing for an increase in the size of their combined $1.4 trillion portfolios right up to the day they were bailed out. Even now, after he's been proven wrong about a taxpayer guarantee, he opposes Treasury's planned reduction in the size of the portfolios starting in 2010, according to a quote attributed to him in this newspaper last week. "Good luck on that," he reportedly said. Mr. Frank's spokeswoman hung up the phone when we sought confirmation Tuesday.

The MBS portfolios have long been both the chief source of the systemic risk posed by the two mortgage giants and of the profits that so handsomely enriched shareholders and officers alike for decades. Without the extreme leverage inherent in those portfolios -- which the companies borrowed heavily, at taxpayer-subsidized rates, to accumulate -- their federal takeover might never have become necessary.

For years, Mr. Frank and other friends of Fan and Fred opposed not only bills written to limit the size of their portfolios, but any bill that in their view gave an independent regulator too much discretion to order a reduction. This was true of the reform that his House committee passed last year. Only when the White House caved to Mr. Frank and dropped its earlier insistence that a reform bill rein in the portfolios did Mr. Frank move his bill.

In his letter, Mr. Frank also repeats his familiar claim that Fannie and Freddie are vital because they support "affordable housing." This is political smoke. The awful irony of Fan and Fred is that they have done very little to assist affordable housing. Most of the taxpayer subsidy has gone to enrich shareholders and Fannie managers, as a 2003 study by the Federal Reserve shows.

Barney's Rubble - WSJ.com

Bush tried in 2003 and McCain tried in 2005 to stave off this mess.

Obama hired the people that lead these companies: Pennt Pritzker, Jim Johnson, Frank Raines, Austan Goolsbee

You'd think that if L'il 'O is as bi-smartisan as he is hyped to be he would have refrained from hiring these unworthy millionaires and worked with a reformer trying to head off the bust before it could materialize.

Harry Reid is going to adjourn the senate. Let's see if L'il 'O can keep his own party to hold congress over and face their off-falling.