Barack Obama's Fannie Mae/Freddie Mac Connection

Obama Pockets Lobbyists

http://www.newsmax.com/smith/obama_lobbyists/2008/09/18/132023.html


Obama Pockets Lobbyists
Thursday, September 18, 2008 9:07 AM
By: Charles R. Smith Article Font Size


Barack Obama claims that he will bring "Change that we can believe in" to the White House. As part of that change, Obama pledges to crack down on the corruption and greed that brought about the fall of Fannie Mae and Freddie Mac, the two U.S. government-backed mortgage loan companies.

"I want to commend federal regulators for blocking golden parachutes for the outgoing CEOs of Fannie Mae and Freddie Mac. Last week, while John McCain praised the plan to rescue Fannie and Freddie without raising any concerns about a golden parachute for their CEOs, I urged Secretary Paulson and Director Lockhart to reject these multimillion dollar bonuses," stated Obama.

Rewarding CEOs during a historic economic crisis may make sense to someone who's so disturbingly out of touch he believes 'the fundamentals of our economy are strong,' but it undermines our economy and betrays our sense of fairness," noted the freshman senator.

However, behind the curtain, Sen. Obama is careful not to mention that several of his top advisers are part of the Fannie Mae/Freddie Mac scandal and they got their golden parachutes.

SNIP

First, there is Jim Johnson, former Fannie Mae CEO turned adviser to the Obama campaign...

Then there is Obama economic adviser Franklin Raines...

Daniel Shapiro, one of Obama’s top foreign policy advisers ...

SNIP

The only visible change from Obama are the huge chunks of change falling out of taxpayer’s pockets into the bank accounts of (his) fat cat advisers and big dollar lobbyists.

 

Funny how the corrupt old media doesn't want to report on it.

Talk about in the tank for a candidate. :tonofbricks:

 

Fannie Mae and Freddie Mac were not "creations of the Clinton White House" as Fox says here. As usual, this is a political fabrication by the most biased news network in the country.