Here's the update:
http://hotair.com/archives/2008/09/17/mccains-attempt-to-fix-fannie-mae-freddie-mac-in-2005/
It never made it out of committee. Chris Dodd, then the ranking
member of the Banking Committee and now its chair, was in the middle
of receiving preferential loan treatment from Countrywide Mortgage,
one of the companies gaming the system in the credit crisis.
Meanwhile, Barack Obama took hundreds of thousands of dollars from the
lobbyists McCain mentions in this speech, making him the #2 recipient
of Fannie/Freddie money:
Then this:
HEATHER NAUERT: Barack Obama attacking John McCain once again on
the economy and the market turmoil today. Our John Gibson has new
information on the Democratic presidential nominee and the mortgage
mess for us now. What have you got John?
JOHN GIBSON: Alright Heather. 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. Heather.
NAUERT: Wow, that's quite a report, begs the question where is
John McCain on this?
GIBSON: John McCain is a measly $20,000 after over 20 years so he
really doesn't even come close in the political contribution
department.
On Tue, Sep 16, 2008 at 6:35 PM, Maureen <[EMAIL PROTECTED]> wrote:
> Perhaps YOU have said that, but Sam's original post blamed it all on the Dems.
>
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