Obama was No. 2 for Campaign Contributions from Freddie Mac

...before the housing market collapsed, guess who got the second highest amount of campaign contributions from Fannie Mae and Freddie Mac - the two entities responsible for lending mortgages to people who couldn't afford to borrow, causing the housing market to collapse and creating the economy we're in now? You guessed it: Barack Obama.
I have to ask myself: how come these two "government-sponsored enterprises" are giving campaign donations at all?
Is it any surprise that the top three recipients of campaign donations from Freddie Mac and Fannie Mae went to Democrats?
And here Obama is, three years later, riding around in his two $1.1 million campaign buses saying it's the Republicans who drove the economy into the ditch...

Talk about hubris:

http://www.youtube.com/watch_popup?v=cMnSp4qEXNM&NR=1

Obama got 126k and McCain got 21k.

All Recipients of Fannie Mae and Freddie Mac Campaign Contributions, 1989-2008
Name Office State Party Grand Total Total from
PACs Total from
Individuals
Dodd, Christopher J S CT D $165,400 $48,500 $116,900
Obama, Barack S IL D $126,349 $6,000 $120,349
Kerry, John S MA D $111,000 $2,000 $109,000
Bennett, Robert F S UT R $107,999 $71,499 $36,500
Bachus, Spencer H AL R $103,300 $70,500 $32,800
Blunt, Roy H MO R $96,950 $78,500 $18,450
Kanjorski, Paul E H PA D $96,000 $57,500 $38,500
Bond, Christopher S 'Kit' S MO R $95,400 $64,000 $31,400
Shelby, Richard C S AL R $80,000 $23,000 $57,000
Reed, Jack S RI D $78,250 $43,500 $34,750
Reid, Harry S NV D $77,000 $60,500 $16,500
Clinton, Hillary S NY D $76,050 $8,000 $68,050
Davis, Tom H VA R $75,499 $13,999 $61,500
Boehner, John H OH R $67,750 $60,500 $7,250

Looks like both Democrats and Republicans at the trough.

http://www.opensecrets.org/news/2008/09 ... eddie.html

What no outrage from WayneH? If the top three had been Republicans, WayneH would have been building websites protesting.

Dodd was in charge of oversight for the organizations....that's a conflict of interest....he should be arrested.

You don't arrest people for conflict of interest...

WayneH wrote: You don't arrest people for conflict of interest...

True, I didn't say he should be arrested for conflict of interest...... Dodd should be arrested for creating treason on the US housing market.

residenttroll wrote: Dodd was in charge of oversight for the organizations....that's a conflict of interest....he should be arrested.

Sorry. Your statement that it was a conflict of interest and he should be arrested (all in the same sentence) made me think that's what you meant.

I have no idea what "treason on the US housing market" means. Sounds like you're picking one catchphrase from Column A and another from Column B.

Looks like both Democrats and Republicans at the trough.

http://www.opensecrets.org/news/2008/09 ... eddie.html [/quote]


Somebody please explain to me how a GSE (government-sponsored entity) that is guaranteed by federal mandates can make political donations. That's just overt fraud. That's robbing the taxpayer right under the taxpayer's nose.

WayneH wrote: You don't arrest people for conflict of interest...

Why not? They're supposed to be representing their constituents - not accepting influence from government-sponsored enterprises that THEY are supposed to be overseeing.

They should stand trial.

Notice how Congress hasn't brought Fannie Mae Mae & Freddie Mac execs in for explanations? Instead they spend time on baseball steroid abuse. Think they don't want people to folow the money here? Neither party!

I would love to see new Congressional Freshmen take the guilty out to the woodshed.