Barack Obama #2 Recipient of Campaign Cash from Fannie Mae, Freddie Mac

September 17, 2008 · Filed Under Economy, John McCain, News 


The collapse this week of Lehman Brothers’ is traced back to Fannie Mae and Freddie Mac, the two big mortgage banks that got a federal bailout a few weeks ago.

It turns out that the Freddie Mac and Fannie Mae used huge lobbying budgets and political contributions to keep regulators off their backs, and the #2 recipient of these funds was Barack Obama, according to Center for Responsive Politics.

It’s jaw-dropping that Obama has collected such a sum in his short four years in office, as this tally covers all of contributions to politicians over the past 20 years.

And if you forgot (it’s understandable - the mainstream media apparently forgot), one of the initial members of Obama’s team searching for a running mate for him was former Fannie Mae CEO Jim Johnson.

Additionally, there is a post at the Wizbang Blog, “Obama One of Leading Recipients of Fannie/Freddie Political Contributions,” with a transcript from a segment on Fox News yesterday that provides further details into the role of Democrats in this financial mess.

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, Senator Obama, was at the head of the line when the piggy’s lined up at the Fannie and Freddie trough for campaign bucks.

Senator Barack Obama, number two 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.

But still we see Obama on the stump as he tries to lay the blame of this mess on the Republicans. I’ve got to wonder - is Obama that duplicitous, or is he really that unaware of how it all happened?

Comments