Obama received the 2nd most $$ from Fanny Mae and Freddie Mac

[Arrogant Ba$tard]

Open Secrets has the list of Congressmen who have benefited from Fannie Mae/Freddie Mac largesse since 1989 (inclusive). Remarkably, after only serving less than four of those 20 years, Barack Obama has vaulted to the #2 position on Capitol Hill. Only Dodd has received more. He took more than six times the amount that McCain received in a 20-year period. Hmm. McCain - 20k in 20 years. Obama - 126K in 4 years.

http://www.opensecrets.org/news/2008...d-freddie.html

Not to mention that McCain foresaw this financial collapse and tried to stop it. Where was Obama? The Dems are so busy trying to blame the Bush admin for the FMFM collapse that they conveniently overlook that Bush tried to step in but was blocked by the Dems. Just move along, nothing to see here, just remember the Dem talking point - Mcsame will give us 4 more years of the same.

McCain in a speech in 2006:
"I join as a cosponsor (with 3 Repubs) of the Federal Housing Enterprise Regulatory Reform Act of 2005, S. 190, to underscore my support for quick passage of GSE regulatory reform legislation. If Congress does not act, American taxpayers will continue to be exposed to the enormous risk that Fannie Mae and Freddie Mac pose to the housing market, the overall financial system, and the economy as a whole."

[OddManRush]

Originally Posted by Arrogant Ba$tard

Open Secrets has the list of Congressmen who have benefited from Fannie Mae/Freddie Mac largesse since 1989 (inclusive). Remarkably, after only serving less than four of those 20 years, Barack Obama has vaulted to the #2 position on Capitol Hill. Only Dodd has received more. He took more than six times the amount that McCain received in a 20-year period. Hmm. McCain - 20k in 20 years. Obama - 126K in 4 years.

OpenSecrets | Update: Fannie Mae and Freddie Mac Invest in Lawmakers - Capital Eye

Not to mention that McCain foresaw this financial collapse and tried to stop it. Where was Obama? The Dems are so busy trying to blame the Bush admin for the FMFM collapse that they conveniently overlook that Bush tried to step in but was blocked by the Dems. Just move along, nothing to see here, just remember the Dem talking point - Mcsame will give us 4 more years of the same.

McCain in a speech in 2006:
\"I join as a cosponsor (with 3 Repubs) of the Federal Housing Enterprise Regulatory Reform Act of 2005, S. 190, to underscore my support for quick passage of GSE regulatory reform legislation. If Congress does not act, American taxpayers will continue to be exposed to the enormous risk that Fannie Mae and Freddie Mac pose to the housing market, the overall financial system, and the economy as a whole.\"

Why didn't the Republicans pass this? They were, after all, in control of both houses of Congress and the White House in 2006.

[go]

AEI - Short Publications - H.R. 1461: A GSE "Reform" That Is Worse than Current Law

Some info on that "Reform." It did pass in the House by a 4 to 1 margin.

While H.R. 1461 does make some improvements in the regulator’s enforcement authority, the authority of the regulator remains inferior to that of the federal bank regulators. Given the demonstrated failure of internal controls at Fannie and Freddie, the huge potential risks they create for the taxpayers and the economy generally, and their enormous and carefully cultivated political power, the supervisory structure for the GSEs should be stronger--not weaker--than that in place for banks. That, however, is not the pattern in HR 1461.

HR 1461 is the same as S 190.

[UnderTheGUN]

The data that you have offered is not accurate. The list that you are using as the evidence to support your case here does not include the individual contributions of the Directors of these companies.

From one of the responses to the blog:

The person who compiled this data apparently didn't search the FEC site for the individual donors' names, and probably simply did blanket searches for \\\\\\"Freddie\\\\\\" and \\\\\\"Fannie\\\\\\".
If you search the FEC for \\\\\\"Geoffrey T. Boisi\\\\\\", a Director of Freddie Mac, you will see exactly where the NYT got their data. In fact, Boisi has contributed $72,400 to McCain since 2007.
Yet this data is conveniently omitted from the above.

Now lets see how the author of the report responded to that:

... CRP's methodology re: contributions associated with corporations does not include money from the board of directors or lobbyists. We code only employees of the companies receiving a paycheck.

And:

As for lobbyists who are \\\\\\"hired guns,\\\\\\" their contributions would fall under the name of the lobbying firm for which they work,

So now we know that Boisi contributed $72,400 to McCain and and his employees donated $21,550.00 which totals $93,950.00; a bit more than the $20k you mentioned. Also, that does not include lobbyists. We could probably dig up more $$ that went to both sides here.

Interesting that the 'employees' donated more to Obama, but the Director donated more to McCain. Hmmmm.

The point is, again, do more research. You guys complain about the "Drive-By-Media", but you seem to be a Drive-By-Flame thrower.