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Obama - 2nd Largest Recipient of Freddie/Fannie $$$
Obama Donors Led to Economy Collaps

Ironically, as Barrack Obama goes around the country blaming the Bush administration for our current economic meltdown, he fails to observe a few key elements that drive the current situation.

http://www.youtube.com/watch?v=H-_HlpZ8azA

1) Bill Clinton formed Freddie & Fannie to help low income people purchase homes. The system was designed to ease credit requirements, thus allowing people who should not own homes, to purchase, let them falter, and leave the mortgage company holding the bag.

2) Fannie Mae and Freddie Mac have been big Democrat party contributors. While Obama was #2 in receiving campaign contributions from these guys in only 3 years in the Senate, John McCain was so far down the list that its not worth citing.

3) 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.

So Obama is attacking Bush and McCain on the economy, yet he his big contributors have made tens of millions while the system collapses. Hypocrite? You bet!

Do not expect to see this story on NBC, CNN, MSNBC, ABC or CBS. They do not cover these factual stories.

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8 comments on this item

Click on the YouTube Link to get the broader story.

http://www.youtube.com/watch?v=H-_HlpZ8azA

http://www.youtube.com/watch?v=3V7wJjry_jw --- McCain kicks Obama between the legs on the Economy

RT, that is a good point. Also, under Obama , ACORN lobbied for raising the amount of home loans to what should be unqualified borrowers. It is hypocrite like you said. But, that is Obama. He said one thing to the American people, but then you never know what he did behind your back. The troop withdrawal is similar to this. What he said to the American people is different than what he told the Iraqi officials. I think his motto is “whatever it takes to win”.

You don't make any sense. Why would a government design a program to fail ? That's what Grover Norquist says, that government should be made small enough to drown in a bathtub. He's a Republican. Clinton was a Democrat. Democrats make government work.

Republicans try to starve it to death by laissez faire free market deregulation so financial predators can steal from people who do not understand mortgage finance.

Republicans say they hate government because it's inefficient and wasteful. They will lie, cheat and steal to get themselves elected to government. As soon as they take office they do their best to ensure that government actually is inefficient and wasteful, while lining their own pockets. It's the self-fulfilling prophecy.

Do not expect to see this story on NBC, CNN, MSNBC, ABC, PBS, Pravda or CBS. They do not cover these factual stories. Only Rational_Thinker has an exclusive lne to God and the truth and the guts to tell it like it really is.

Who was first unemployed guy to break the news that Obama was a secret Muslim raised in an al-Qaeda training camp in Iran? Who told you that Global warming is a fraud? Rational_Thinker did. Or that the Arctic ice is growing and will soon be overpopulated with baby Polar Bears? Again, Rational_Thinker did. Who can prove that Bush got a bum steer about WMDs when he said "I know... I know where they are - pick me, pleeeze." Bill O'Reilly and Rational_Thinker said it first. Gay marriage? R_T knows. Incestuous marriage? R_T. Same wihy the vast Left-Wing conspiracy and Creeping Socialism. And who thinks the regressive political party that caused this nation's worst foreign and domestic problems should be reelected and given another chance to fix them? Again? Nobody but if Rational_Thinker. Victory in Iraq. The fundament economy is strong.

Republicans, here’s a cheap thrill:

Think of MMS failing to bill,

Then let out a moan

In your breathiest tone,

“Skip the royalties - drill, baby, drill!”

Folks, facts are facts. One person I didn't see mentioned was Barney Frank, he has opposed any interference or regulation of the banking industry since he became Chairman of the Committee. His excuse has always been that it was not necessary since there was no taxpayer money at risk. Well, who's footing the bill for this bailout.

loom: This is not the Barney Frank blog. Please stay on subject.

____

Like most of McCain's decisions and smear attacks, I get the sense he hasn't really thought this through.

First, McCain insists that Raines is an adviser to the Obama campaign. McCain simply isn't telling the truth. Check for yourself.

Second, if getting advice from officials at troubled financial institutions is a sign of bad judgment, McCain way want to explain why two of his top advisors include John Thain of Merrill Lynch and Martin Feldstein, a director for AIG.

Third, and most importantly, all that McCain's attacks do is offer people like me a chance to remind folks about his own connections to Fannie Mae and Freddie Mac.

More than Sen. Obama, Sen. McCain's circle of advisers and contributors includes current and former lobbyists or directors for the companies, although since July he has called for a ban on any lobbying by the two firms.

Among Fannie Mae and Freddie Mac' past advocates are Mr. McCain's campaign manager, Rick Davis, a longtime lobbyist; Mr. McCain's confidant and adviser Charlie Black, whose firm worked for Freddie Mac, and McCain's deputy campaign finance chairman, Wayne L. Berman, a vice president for Ogilvy Worldwide and a former Fannie Mae lobbyist.

Rick Davis was head of the Homeownership Alliance, a coalition of banks, real estste development and housing industry interests created by Fannie and Freddie to stave off federal regulation of the mortgaga industry.

I just don't understand what McCain is thinking here; he seems to assume that his comments won't receive any scrutiny at all.

He is, without a hint of shame, attacking Obama for having connections with two former Fannie Mae executives. At the same time, one of McCain's top policy advisers, Charlie Black, was lobbyist for Freddie Mac for 10 years. His campaign manager, Rick Davis, lobbied to help Fannie and Freddie steer clear of additional federal regulations (which obviously is a cause of our current problems).

But wait, there's more.

Tom Loeffler, who served as McCain's campaign co-chairman, also lobbied for Fannie Mae. Aquiles Suarez, a McCain economic advisor, was a Fannie Mae executive. Dan Crippen, a McCain advisor who helped craft the campaign's health-care policy, lobbied for Fannie Mae (and Merrill Lynch). Arthur B. Culvahouse, who helped lead McCain's VP search committee, also lobbied for Fannie Mae. In all, McCain has 19 people who are either advisers or fundraisers who lobbied for either Fannie Mae or Freddie Mac.

And voters are supposed to be outraged because of Obama's connections to Franklin Raines and Jim Johnson? Why would McCain even start on this subject at all, making the argument that ties to Fannie/Freddie are scandalous, given his own suspicious associations?

It seems the underlying point to just about every McCain argument is that voters won't pay attention to the details. He may be right, but it seems like an incredibly dangerous strategy for a candidate to take.

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