Sen. Obama (D-Fannie Mae)
Lindsay Renick
10 September 2008
5 Comments
The federal government recently announced that it will come to the rescue of Freddie Mac and Fannie Mae, two embattled mortgage buyers that for years have pursued a lobbying strategy to get lawmakers on their side. Both companies have poured money into lobbying and campaign contributions to federal candidates, parties and committees as a general tactic, but they’ve also directed those contributions strategically.
Top Recipients of Fannie Mae and Freddie Mac
Campaign Contributions, 1989-2008
1) Christopher Dodd (D-CT) $133,900
2) John Kerry (D-MA) $111,000
3) Barack Obama (D-IL) $105,849
Read the Full Story: http://www.opensecrets.org/news/2008/07/top-senate-recipients-of-fanni.html
And your point would be? in 2006, the two embattled organizations gave 53% of their 1.3 million dollar budget to Republicans who controlled Congress at the time, and in the current cycle gave 56% to Democrats who currently control Congress. Perhaps it would have been a better idea to write about lobbying reform instead of making purely partisan points.
Well, Jim, the point would be that this was supposed to be a congress of change, and a presidential campaign of change. The stats highlight that we have obtained neither. It’s not really change to continue to whore out for lobby dollars.
Well, Jim, the point would also be that when the freakazoid Olbermann interviewed Barack Hussein Obama we heard Olbermann overestimating the cost of the bailout to the American taxpayer by about $4.8 trillion; we also heard Obama going after the high salaries of Freddie and Fannie executives without mentioning his veep-vetter was highly paid Fannie executive Jim Johnson and we also heard Obama talking about how this is a Republican and Democratic problem without mentioning how the top recipients of lobbying cash from the industry are Democrats.
But don’t worry Jim, Barack Hussein Obama still really, really loves America and is the most-ready person to be president and is the only one who will really, really protect her from those mean terrible blue-eyed Swedish terrorists.
Jim: The point being is that the fact that Senator Obama accepted such a large sum of money from Fannie Mae exposes his hypocrisy. He’s campaigned against lobbyists, special interests, and corporate handouts. Further, Obama has accused the Republicans of exactly the same thing as it turns out he was doing. Jim, Obama has campaigned on “lobby reform”. The story wasn’t taking a partisan position but was simply stating a fact. Which fact exposes Obama as a fraud when it comes to special interests. Change indeed!
Fannie Mae and Freddie Mac employees donated $126,349 to the Obama campaign while they donated $21,550 to McCain. Corporations themselves are ineligible from donating to political campaigns. Whereas, Fannie Mae and Freddie Mac board of directors and lobbyists donated $169,000 to McCain and his related committees, compared with $16,000 to Obama and his related committees.
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