Obama and Fannie Mae
What exactly are Obama's ties to Fannie Mae, the biggest financial disaster over the past 50 years? Well, Obama is the third top recipient of contributions from Fannie Mae, but one fact is interesting. The list is compiled since 1989, while Obama has only been in office since 2005. I have to believe that Barack Obama is the biggest recipient of campaign contributions from Fannie Mae since 2005. Anyone else outraged?
But the connection doesn't quite end there. Jim Johnson, former CEO of Fannie Mae, was so close to Obama that he was selected as his advisor to vet VP candidates. Later, he was fired as it's been speculated that Johnson had received favorable loans from countrywide.
Incidentally, Obama himself is no stranger to receiving favorable, below market rate loans, having received a loan of 5.6% when the prevailing market rate was 5.9% (according to the Washington Post).
Anyway, is it possible that Obama's monster donations from Fannie have anything to do with the fact that he wants them to remain quasi-government organizations? That sounds like status quo to me. Who is it that is campaigning on change anyway?
The Enron scandal was small beans compared to Fannie Mae and got a lot of scrutiny from Congress and the media. People went to jail. Let's see if people go to jail for this fraud.
Where's the outrage at Fannie's fraud? If this were run by former Republicans, you better believe there would be investigations all around.
But the connection doesn't quite end there. Jim Johnson, former CEO of Fannie Mae, was so close to Obama that he was selected as his advisor to vet VP candidates. Later, he was fired as it's been speculated that Johnson had received favorable loans from countrywide.
Incidentally, Obama himself is no stranger to receiving favorable, below market rate loans, having received a loan of 5.6% when the prevailing market rate was 5.9% (according to the Washington Post).
Anyway, is it possible that Obama's monster donations from Fannie have anything to do with the fact that he wants them to remain quasi-government organizations? That sounds like status quo to me. Who is it that is campaigning on change anyway?
The Enron scandal was small beans compared to Fannie Mae and got a lot of scrutiny from Congress and the media. People went to jail. Let's see if people go to jail for this fraud.
Where's the outrage at Fannie's fraud? If this were run by former Republicans, you better believe there would be investigations all around.
posted by pistolpete | 11:44 AM
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