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  1. #1

    Freddy and Fanny's largess

    What Obama has received from Fannie Mae and Freddie Mac employees is nothing from what his top economic advisors, Franklin Raines and Jim Johnson have done for his coffers. Both are recent CEOs of Fannie Mae and made millions of $$s off the questionable practices under their control. They also funneled massive funds from non-employees. Also, Rahm Emanuel was a Democrat member of thge Board of Freddie Mac, where he consistantly voted the Obama/Democrat line - opposition to every reform suggested by the Bush Admin.
    Obama is up to his ears in this scandal - watch for the MSM to stop its reportage.
    We never hear Joe Biden refered to as "The Senator from MBNA" anymore. Google the phrase and see what this guy has done to make himself rich.
    I first heard this on tues...anybody else heard of it?


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    I trim mangroves..... inothome's Avatar
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    Can you please find any positive proof that either of them, Raines or Johnson, are in fact his economic advisors? I can't find anything that positively makes that claim. I did find out that Johnson removed himself from the VP committe over Countrywide controversy back in June. The only adviser I can find is Austan Goolsbee.

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    Quote Originally Posted by inothome View Post
    Can you please find any positive proof that either of them, Raines or Johnson, are in fact his economic advisors? I can't find anything that positively makes that claim. I did find out that Johnson removed himself from the VP committe over Countrywide controversy back in June. The only adviser I can find is Austan Goolsbee.
    "In the four years since he stepped down as Fannie Mae's chief executive under the shadow of a $6.3 billion accounting scandal, Franklin D. Raines has been quietly constructing a new life for himself. He has shaved eight points off his golf handicap, taken a corner office in Steve Case's D.C. conglomeration of finance, entertainment and health-care companies and more recently, taken calls from Barack Obama's presidential campaign seeking his advice on mortgage and housing policy matters."
    http://www.washingtonpost.com/wp-dyn...071502827.html

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    The friends of Fannie Mae and Freddy Mac in government turn out to be the usual cast of culprits.

    We have Obama, Gorelick, Johnson, Raines, Dodd, Frank, and the Congressional Black Caucus who all fought reforms even though this speech in 2005 clearly indicated they were needed. McCain was campaigning for reforms (see enough is enough) but they were beat down.

    The real impact of all of this will be felt by the taxpayers, the thrifty, those who have thought of their future and saved. This will impact your pension, your 401K, your life savings. Meantime Jamie Gorelick, Democrat operative, is waltzing away with 26 Million. Special shame should also be attached to the Republicans who assisted the lobbyists and Democrats who fought these needed reforms, and we will be hunting those names down in the future as well.

    At a campaign rally in Elko Obama had this to say:

    “I will crack down on predatory lenders — who all too often target the African-American community, target the Hispanic community — with tough new penalties that treat mortgage fraud like the crime that it is,” he said.

    Obama and his compadres in the Democrat caucus have been “cracking down on predatory lending” since the 1990’s, and that’s exactly what has led to this mess. They systematically took away the profit from high risk loans, making it a losing, giveaway business backed by your tax dollars. They cut options to have high risk loans credit insured and rolled into loan cost, which led directly to increased foreclosures."
    http://noblesseoblige.org/wordpress/?p=3057

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    YoYamma's Avatar
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    Barack Obama's Fannie Mae/Freddie Mac Connection
    Tuesday, September 16, 2008
    By John Gibson

    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 No. 2 is Sen. Barack Obama.

    Now remember, he's only been in the Senate four years, but he still managed to grab the No. 2 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 turns 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. Jamie Gorelick Clinton Justice Department official worked for Fannie and took home $26 million. Big Democrat Jim Johnson, recently on Obama's VP search committee, has hauled in millions from his Fannie Mae CEO 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 Sen. Obama was at the head of the line when the piggies lined up at the Fannie and Freddie trough for campaign bucks.

    Sen. Barack Obama: No. 2 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.
    http://www.foxnews.com/story/0,2933,423701,00.html

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    I trim mangroves..... inothome's Avatar
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    Quote Originally Posted by YoYamma;813332[B
    and more recently, taken calls from Barack Obama's presidential campaign seeking his advice on mortgage and housing policy matters."[/B]
    http://www.washingtonpost.com/wp-dyn...071502827.html
    I don't know if you were trying to show proof of his official advisorship or just bringing up some article. It mentions he has taken CALLS.

    Quote Originally Posted by YoYamma View Post
    Barack Obama's Fannie Mae/Freddie Mac Connection
    Tuesday, September 16, 2008
    By John Gibson

    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.

    ..........
    If it can be "traced back", then why wasn't something done in the interm? You can backtrack anything back far enough to find fault.

    Still looking for an official link that lists either guy as an official economic advisor. Taking calls does not qualify. Not saying they aren't, I just haven't been able to find anything that mentions them as fact.

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    YoYamma's Avatar
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    Quote Originally Posted by inothome View Post
    I
    Can you please find any positive proof that either of them, Raines or Johnson, are in fact his economic advisors? I can't find anything that positively makes that claim. I did find out that Johnson removed himself from the VP committe over Countrywide controversy back in June. The only adviser I can find is Austan Goolsbee.
    Quote Originally Posted by inothome View Post
    I don't know if you were trying to show proof of his official advisorship or just bringing up some article. It mentions he has taken CALLS.
    Actually---the WP article states as a fact that Obama's campaign was SEEKING HIS ADVICE on mortgage and housing policy matters. That should be damning enough. Why is Obama seeking Raines' advice on ANYTHING?

    Maybe you should contact the Post reporter who wrote the story. You can expect Raines to deny this, no need to expose his partner in crime... yet. The Obama camp has already put their version on Wikipedia. They better hope the hackers aren't going into Raines e-mails like they did on Sarah Palin, because Obama could burn over this. Let's see how the worm turns...

    Meanwhile, you're squirming.
    First you asked me if find any positive proof that either of them, Raines or Johnson, were in fact his economic advisors... I showed you the Washington Post article. Now you want "official advisorship,"---I showed you that the top three U.S. senators getting big Fannie and Freddie political bucks were Democrats and No. 2 is Sen. Barack Obama... is there any thing else you want...

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    I once called Geico for an insurance quote, did not switch to Geico. Did i save a lot of money anyway?

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    I trim mangroves..... inothome's Avatar
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    Quote Originally Posted by YoYamma View Post
    Actually---the WP article states as a fact that Obama's campaign was SEEKING HIS ADVICE on mortgage and housing policy matters. That should be damning enough. Why is Obama seeking Raines' advice on ANYTHING?

    Maybe you should contact the Post reporter who wrote the story. You can expect Raines to deny this, no need to expose his partner in crime... yet. The Obama camp has already put their version on Wikipedia. They better hope the hackers aren't going into Raines e-mails like they did on Sarah Palin, because Obama could burn over this. Let's see how the worm turns...

    Meanwhile, you're squirming.
    First you asked me if find any positive proof that either of them, Raines or Johnson, were in fact his economic advisors... I showed you the Washington Post article. Now you want "official advisorship,"---I showed you that the top three U.S. senators getting big Fannie and Freddie political bucks were Democrats and No. 2 is Sen. Barack Obama... is there any thing else you want...
    Seeking advise and being an official advisor are not the same. To quote the WP article "(Raines) taken calls from Barack Obama's presidential campaign seeking his advice on mortgage and housing policy matters." Taken calls, OK, woo hoo. That's a far cry from being THE adviser. OK, "seeking advice" Woo mother fn' hoo. Find me something definitive that says he is Obama's official advisor, or ever was. Not some news story, something official. Showing the "top" political bucks does not answer anything.

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