Shocker: Fannie Mae and Freddie Mac Contribute ALOT to Democrats
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.
Barack Obama is the third largest recipient of campaign contributions from Fannie Mae and Freddie Mac.
As the Congress considers a $700 BILLION bailout, follow the money. Here is an updated chart with Barack Obama now second in receipts. Where is John McCain? Uhhhhh not there.
Doubtful……
Technorati Tags: Barack Obama, Fannie Mae, Freddie Mac
8 Comments
Pot Speed-Dating Kettle
And $2 million to Rick Davis.
“One of the giant mortgage companies at the heart of the credit crisis paid $15,000 a month from the end of 2005 through last month to a firm owned by Senator John McCain’s campaign manager, according to two people with direct knowledge of the arrangement.”
“The disclosure undercuts a statement by Mr. McCain on Sunday night that the campaign manager, Rick Davis, had had no involvement with the company for the last several years.”
“They said Mr. Davis’s firm, Davis & Manafort, had been kept on the payroll because of Mr. Davis’s close ties to Mr. McCain, the Republican presidential nominee, who by 2006 was widely expected to run again for the White House.”
…shocker, indeed.
Flap
And, the New York Times piece is WRONG: http://www.johnmccain.com/mccainreport/Read.aspx?guid=74063c9d-7cb5-47c9-acf6-53c0c2d88376
When will they print the retraction?
Never probably
Another shocker……
Pot Speed-Dating Kettle
You may be right, you may not be, Flap, but your source is the campaign itself. Of course, they are denying it. Anyway, a little more from the article which directly addresses the McCain campaign denial:
Mr. Davis took a leave from Davis & Manafort for the presidential campaign, but as a partner and equity-holder continues to benefit from its income. No one at Davis & Manafort other than Mr. Davis was involved in efforts on Freddie Mac’s behalf, the people familiar with the arrangement said. […]
On Sunday, in an interview with CNBC and The New York Times, Mr. McCain responded to a question about Mr. Davis’s role in the advocacy group through 2005 by saying that his campaign manager “has had nothing to do with it since, and I’ll be glad to have his record examined by anybody who wants to look at it.â€
Such assertions, along with McCain campaign television ads tying Mr. Obama to former Fannie Mae chiefs, have riled current and former officials of the two companies and provoked them to volunteer rebuttals. The two officials with direct knowledge of Freddie Mac’s post-2005 contract with Mr. Davis spoke on condition of anonymity. Four other outside consultants, three Democrats and a Republican also speaking on condition of anonymity, said the arrangement was widely known among people involved in Freddie Mac’s lobbying efforts.
Flap
The New York Times = BarackObamacentral.com Haha
What does that have anything to do with the money Barack Obama has accepted directly from Fannie Mae and Freddie Mac?
Plus, cogitate on Obama’s two friends here: http://flapsblog.com/2008/09/24/the-fannie-mae-and-freddie-mac-meltdown-who-is-franklin-raines-who-is-jim-johnson/
Pot Speed-Dating Kettle
$6k from PACs, $120k from individuals (who have to list their employer) is a world of difference from a candidate whose campaign manager has a consultancy that has received over $2m direct from FM, in order to provide direct access to McCain. OK, off to work, you can have the last word. It is your blog after all.
Flap
Direct access to McCain?
Spin it how you like.
Rick Davis is a non-issue.
zeitschadden
And bear in mind that as mentioned Obama received a total of $6,000 from a Fannie/Freddie PAC — and only prior to his campaign for the Presidency, when he announced he would no longer take any lobbyists PAC money.
The remainder was from individuals who are employees of Fannie/Freddie, in the years between 1989-2008. The two companies at one time had over 12,000 employees.
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