Obama, Freddie and Fannie.

Discussion in 'Congress' started by The Paperboy, Sep 17, 2008.

  1. The Paperboy
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    The Paperboy Times Square

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    From John Gibson, Fox News:

    Lehman Brothers' collapse is traced back to Fannie Mae and Freddie Mac, the two big mortgage banks that got a federal bailout a few weeks ago. Freddie and Fannie used huge lobbying budgets and political contributions to keep regulators off their backs. A group called the center for responsive politics keeps track of which politicians get Fannie and Freddie political contributions. The top three U.S. Senators getting big Fannie and Freddie political bucks were democrats and number two is Senator Barack Obama. Now, remember, he has only been in the Senate four years but still managed to grab the number two spot ahead of John Kerry, decades in the senate, and Chris Dodd who is chairman of the senate banking committee. Fannie and Freddie have been creations of the congressional democrats and the Clinton white house, designed to make mortgages available to more people, and as it turned out, some people who couldn't afford them. Fannie and Freddie have also been places for big Washington democrats to go to work in the semi-private sector and pocket millions. The Clinton administration's white house budget director Franklin Raines ran Fannie and collected 50 million dollars. Jamie Gurilli, Clinton Justice Apartment Official, worked for Fannie and took home 26 million dollars. Big Democrat Jim Johnson, recently on Obama's VP search committee has hauled in millions from his Fannie Mae C.E.O. job. Now remember, Obama's ads and stump speeches attack McCain and republican policies for the current financial turmoil. It is demonstrably not Republican policy and worse, it appears the man attacking McCain, Senator Obama, was at the head of the line when the piggy's lined up at the Fannie and Freddie trough for campaign bucks. Senator Barack Obama, number two on the Fannie/Freddie list of favored politicians after just four short years in the senate. Next time you see that ad, you might notice he fails to mention that part of the Fannie and Freddie problem. John McCain is a measly $20,000 after over 20 years so he really doesn't even come close in the political contribution department.

    Link to video here
     
    Last edited: Sep 17, 2008
  2. jillian
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    jillian Princess Supporting Member

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    you need to link when you're quoting.

    thanks.

    And I'm sure FauxNews is very "balanced" on the issue.....
     
  3. The Paperboy
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    The Paperboy Times Square

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    I just added the link to the original post.
     
  4. The Paperboy
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    The Paperboy Times Square

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    The same info is also reported by CNN here.
     
  5. dilloduck
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    dilloduck Diamond Member

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    I'm sure there is something wrong with that too ! :lol:
     
  6. The Paperboy
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    The Paperboy Times Square

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    "Facts are stubborn things; and whatever may be our wishes, our inclinations, or the dictates of our passion, they cannot alter the state of facts and evidence."

    -John Adams, 'Argument in Defense of the Soldiers in the Boston Massacre Trials,' December 1770, US diplomat & politician (1735 - 1826)
     
  7. Clay Buster
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    Clay Buster Never a dull moment

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    After reading the article, I happen to agree that it is simply pathetic that both McCain and Obama took money from these lobbyists.

    Both candidates are running on the "change" platform yet they are both taking money from the lobbyists who represent unscrupulous industries which have led to this latest economic meltdown.

    Both of them should be ashamed.

    We've never needed to eliminate our two party system more than now.

     
  8. The Paperboy
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    The Paperboy Times Square

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    McCain received $20,000 over 20 years not two years.

    Obama received $123,000 in less than 4 years.

    Obama has requested 3/4 of a billion dollars in earmarks in less than 4 years including a request for one million dollars for the hospital that employs Michelle (whose hospital salary more than doubled when Obama became a Senator)

    McCain has never requested an earmark.

    On earmarks and lobbyist influence on the banking sector McCain wins easily.
     
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    Last edited: Sep 17, 2008
  9. Clay Buster
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    Clay Buster Never a dull moment

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    I'll have to do more research because the CNN article you posted stated McCain excepted the money over 10 years, not 20. I really don't care, however, he accepted money from those lobbyists just like Obama.

    I hope we are not going to go down the road of the lesser of two evils argument.

    Just remember, the lesser of two evils is still evil.

    Obama took a lot of money which is crap.

    McCain hired a campaign manager which led the Homeownership Alliance, a lobbyist group Fannie Mae and Freddie Mac, which is crap.

    They are both guilty here and I hope Dems and Repubs alike will realize this.

    There is simply no way to spin it.
     
  10. The Paperboy
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    The Paperboy Times Square

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    Fair enough. No spin. Just facts. Let the chips fall where they may.
     
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