It’s Time For Obama To Cut Ties With Freddie Mac & Fannie Mae
Posted by Casey on September 22, 2008
Obama has been a real hypocrite by attacking McCain’s lobbyist connections. Especially since Obama is knee deep in this whole subprime lending nightmare.
Three of his advisers have been involved in subprime scandals, and they all got rich doing it. McCain doesn’t have that problem. He, and President Bush, warned everyone what was to come … no one (including Obama) listened.
|Campaign contributions from Fannie Mae and Freddie Mac made to Barack Obama may backfire if the Democratic presidential hopeful wages an aggressive campaign to cast blame on rival John McCain and the Republicans in Congress for the mortgage-related losses that forced the U.S. Treasury to take over the quasi-governmental mortgage giants.
A review of Federal Election Commission records back to 1989 reveals Obama in his three complete years in the Senate is the second largest recipient of Freddie Mac and Fannie Mae campaign contributions, behind only Sen. Christopher Dodd, D-Conn., the powerful chairman of the Senate banking committee. Dodd was first elected to the Senate in 1980.
According to OpenSecrets.com, from 1989 to 2008, Dodd received $165,400 in Fannie Mae and Freddie Mac campaign contributions, including contributions from PACs and individuals, followed by Obama, who received $126,349 in such contributions since being elected to the Senate in 2004.
Make sure you go to WND for the full background of Obama’s advisers, and the rest of the story.
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