• Barack Obama

    Barack Obama – The “Conscience” of Fannie Mae and Now WE PAY

    The CEO of Fannie Mae in 2005 explaining the “FAMILY” connection with Democrats – specifically Barack Obama and the Congressional Black Caucus

    Barack Obama has more than a Jim Johnson problem with the collapse of America’s financial institutions. Watch the video above and get ready to hold onto your wallet.

    And, this corrupt pol has the answer?

    Please…….

    Update:

    And, look who is meeting in Florida with Obama today to discuss his economic recovery plan for America – “to stabilize the financial system and turn the economy around.”

    • The Politico Reports Former Commerce Secretary William Daley Will Attend Obama’s Economic Meeting To Advise Him On The Financial Crisis. (“Obama’s Banking Brain Trust,” The Politico, 9/19/08)
    • Daley Serves As An Obama Advisor For Economic Policy. “At his stop in New Mexico, Obama sought to keep the focus almost exclusively on the economy, appearing with a panel of experts that included William Daley, brother of Chicago Mayor Richard Daley and a former U.S. commerce secretary.” (John McCormick and Jill Zuckman, “Rivals Spend Day As Frequent Fliers,” Chicago Tribune, 2/2/08)
    • Daley Served On The Fannie Mae Board And Received Hundreds Of Thousands In Stock Options And Director Fees. “After Clinton passed over Daley for a Cabinet post in his first term, he appointed him to the Fannie Mae board. Daley reported collecting $ 24,814 in director’s fees in 1996 from the firm. He also listed deferred compensation and stock options from Fannie Mae worth between $ 215,000 and $ 500,000.” (Charles R. Babcock and Barbara J. Saffir, “In Wealth, Clinton Team Doesn’t Look Like America,” The Washington Post, 6/24/97)
    • Former Fannie Mae CEO Jim Johnson Recruited Daley For Fannie Mae. “Fannie’s government relations operations dramatically expanded in the mid-1990s, when then-CEO Johnson recruited Washington A-listers Robert Zoellick, who served in the Reagan and Bush administrations; Lawrence M. Small, former secretary of the Smithsonian Institution; and William M. Daley, commerce secretary in the Clinton administration.” (Lisa Lerer, “Fannie, Freddie Spent $200M To Buy Influence,” The Politico, 7/16/08)
    • NOTE: From 2002 Through 2005, Daley’s Son Was A Registered Lobbyist For Fannie Mae. (U.S. Senate Office Of Public Records Website, soprweb.senate.gov, Accessed 7/27/08)

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  • Barack Obama

    Barack Obama Watch: The Jim Johnson Problem

    McCain-Palin ad: Jim Johnson

    Financial institutions are failing, there is an erosion of confidence in the American economy and Barack Obama is hunkered down with old Clinton economic advisers trying to figure out what they would do. But, hasn’t Barack Obama been part of the “problem?”

    The script:

    ANNCR: What Obama says…

    BARACK OBAMA: It would be unacceptable for executives of these institutions to earn a windfall.

    ANNCR: …Is not what he does.

    Meet Jim Johnson, former Fannie Mae CEO. Fannie cooked the books and Johnson made millions.

    Then Obama asked him to pick his VP. And raise thousands for his campaign.

    Barack Obama. More empty words.

    And who is Jim Johnson?

    • Jim Johnson Is The Former CEO Of Fannie Mae. (David A. Vise, “Fannie Mae Lobbies Hard To Protect Its Tax Break,” The Washington Post, 1/16/95)
    • “Jim Johnson, The Former Chairman Of Fannie Mae Who Was One Of Three Advisors Tapped By Democrat Barack Obama To Vet Vice Presidential Candidates, Resigned Today After Questions Were Raised About Favoritism He May Have Received From Countrywide Financial Corp.” (Johanna Neuman, “Barack Obama Advisor Jim Johnson Quits Under Fire,” Los Angeles Times, 6/12/08)
    • Johnson Remains A Bundler For Obama’s Presidential Campaign And Has Committed To Raising $100,000 To $200,000. (Obama For America Website, www.barackobama.com, Accessed 9/19/08)

    Johnson Earned Large Bonuses At Fannie Mae Due To An Accounting Manipulation:

    • In 1998, Fannie Mae’s Earnings Were Manipulated, Which Resulted In “Maximum Payouts” To Executives Including CEO Jim Johnson. “As CEO of Fannie Mae, Johnson, a former chief of staff to Vice President Walter F. Mondale and chairman of the board of the Kennedy Center, was the beneficiary of accounting in which Fannie Mae’s earnings were manipulated so that executives could earn larger bonuses. The accounting manipulation for 1998 resulted in the maximum payouts to Fannie Mae’s senior executives — $1.9 million in Johnson’s case — when the company’s performance that year would have otherwise resulted in no bonuses at all, according to reports in 2004 and 2006 by the Office of Federal Housing Enterprise Oversight.” (Jonathan Weisman and David S. Hilzenrath, “Obama’s Choice Of Insider Draws Fire,” The Washington Post, 6/11/08)

    Johnson Engineered An Effort To Lobby Politicians So That Fannie Mae Would Not Have To Pay Local Taxes To Washington, D.C.:

    • While Johnson Was CEO, Fannie Mae Did Not Have To Pay Washington D.C. Taxes Which Cost The City Hundreds Of Millions Per Year. “While Wall Street benefits from Fannie Mae’s prosperity, the District government does not. Fannie Mae, the biggest, most profitable company in Washington, is exempt from local income taxes. That exemption costs the cash-strapped D.C. government hundreds of millions of dollars a year.” (David A. Vise, “The Financial Giant That’s In Our Midst,” The Washington Post, 1/15/95)
    • “If Fannie Mae Were Required To Pay Taxes, It Would Wipe Out The District’s Budget Deficit.” (David A. Vise, “The Financial Giant That’s In Our Midst,” The Washington Post, 1/15/95)

    Before Heading Fannie Mae, Johnson Was A Registered Foreign Agent For Lehman Brothers:

    • In The 1980s, Johnson Worked For Shearson Lehman Brothers. “In the early 1980s Johnson had already started his own Washington consulting company, Public Strategies, with his Carter administration colleague Richard Holbrooke. And now he followed Holbrooke to Wall Street as an investment banker at Shearson Lehman Brothers.” (Lloyd Grove, “The Big Chair,” The Washington Post, 3/27/98)

    What did Jim Johnson do for Barack Obama? While John McCain was trying to reform Fannie Mae and Freddie Mac, Obama took massive campaign contributions from their employees.

    More Obama PLUS CA CHANGE.


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  • Barack Obama,  Joe Biden,  John McCain

    Joe Biden Watch: Lots MORE Patriots and Lots MORE Taxes

    McCain-Palin web ad: Patriotic Act

    Playing upon Joe Biden’s GIFT yesterday, Team McCain has responded with the above humorous ad.

    The script:

    ANNCR: Joe Biden calls paying higher taxes a “patriotic” act.

    Obama and Biden voted to raise taxes on working Americans making just $42,000 a year.

    Higher taxes on seniors and their life savings.

    Higher taxes on your electric bills.

    Lots more taxes.

    Lots more patriots.

    JOHN MCCAIN: I’m John McCain and I approve this message.

    With Barack Obama saying today that he would hold off on presenting his own economic recovery plan, the words of Joe Biden of HIGHER TAXES as the patriotic thing to do will be interpreted as their plan. In the past few Presidential cycles (since Mondale vs. Reagan in 1984) the Democrats have played “hide the ball” with their redistributive marginal tax schemes.

    Sarah Palin will ask slow Joe about his “patriotic” statement in the Vice Presidential debate. Maybe by then Barack Obama will have an economic recovery plan. However, Flap doubts it will be little more than tax, tax and more obfuscation of tax increases.

    Update:

    Barack Obama is having a news conference finally outlining an economic recovery plan. Taxes and blame – that is all. But, he is refraining from any detailed plan at this time. Of course, Obama is voting present as usual.


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  • Day By Day,  Hillary Clinton,  Sarah Palin

    Day By Day by Chris Muir September 19, 2008 – “Hello Kitty”

    Day By Day 091908

    Day By Day by Chris Muir

    The LEFT has miscalculated with the attacks on Sarah Palin and the continuing attacks by the Obama campaign are self-defeating.

    McCain-Palin will NOT be able to capture ALL of the disgruntled Hillary Clinton voters in working class neighborhoods but there will be enough cross-over voters to make Ohio, Pennsylvania, Michigan and Wisconsin competitive. Watch where Sarah Palin is deployed to campaign and the reader will get an idea where the true battleground for Presidential race 2008 is.

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