Remember when Democrats were telling bailed out bank CEOs that they weren't allowed anymore huge bonuses? Well, everyone except Fannie Mae and Freddie Mac.
The government subsidized lending giant is giving out billions in bonuses to senior directors ( $13 billion so far) and yet they still owe the taxpayer upwards of $140 billion dollars. It also appears that Dodd-Frank excluded Fannie Mae and Freddie Mac from the regulations that every other bank that took TARP money has to follow.
Over a year into Dodd-Frank we're still in a financial mess. Banks aren't lending and Obama is having to jump through his ass to try to come up with something to fix the situation. If you look at the ad-board you'll notice that Obama is promising to help you keep your home with loan assistance.
Wasn't Dodd-Frank supposed to do all of this? Why is the problem worse now then it was when Obama signed Dodd-Frank August of 2010 and he has to make campaign promises to make it appear he wants to help borrowers with underwater mortgages?
Senators that received the most campaign contributions from Fannie Mae -
Sen Chris Dodd
Sen Barrack Obama
Sen John Kerry
Here's a video of interum CEO of Fannie Mae Daniel Mudd sucking up to the Congressional Black Caucus. And you can see Obama standing in the top row:
[ame=http://www.youtube.com/watch?v=usvG-s_Ssb0]Explosive Video, Fannie Mae CEO calling Obama and the Dems the "Family" and "Conscience" of Fannie Mae - YouTube[/ame]
Links
Republican Senator Calls On Obama To Cancel Fannie Mae, Freddie Mac Bonuses | Fox News
Fannie Mae and Freddie Mac Now Have a Blank Check
Financial Reform Bill Excludes Fannie Mae and Freddie Mac
Fact Checker - Obama's Fannie Mae 'Connection'
Obama fannie mae plan
Barack Obama's Top Wall Street Fundraiser Corzine Under Investigation
Obamas Friends at Fannie Mae - HUMAN EVENTS
Obama Calls For End Of Fannie Mae, Freddie Mac
Stephanopoulos: Obama: Government Intervention Necessary For Fannie, Freddie - ABC News