Anonymous
Anonymous asked in Politics & GovernmentElections · 1 decade ago

Wow Obama #2 on the list of Freddie Mac and Fannie Mae campaign contributions?

is this why Obama does not have a leg to stand on with this issue

Update:

actually mccain was #3 350 but nice try lib wow

Update 2:

hate to blow it for you WRONG Chris Dodd is #1 sorry so called sexy adz nice try lib

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  • 1 decade ago
    Favorite Answer

    Yes. Obama is the problem and not the solution. And Clinton let Freddie and Fannie to do subprime mortgages (congress was not involved for that one).

    From an internet search:

    Barack Obama's Fannie Mae/Freddie Mac Connection

    http://www.foxnews.com/story/0,2933,423701,00.html

    "Explosive Video, Fannie Mae CEO calling Obama and the Dems the "Family" and "Conscience" of Fannie Mae"

    http://www.youtube.com/watch?v=usvG-s_Ssb0

    Youtube thumbnail

    Fannie Mae, Freddie Mac execs now offering advice to Obama

    http://www.worldnetdaily.com/?pageId=75586

    Acorn, Fannie Mae, Freddie Mac, Barack Obama’s Finance Chair-Penny Pritzker all tied to the sub prime meltdown

    http://rightvoices.com/2008/09/17/acorn-fannie-mae...

    John McCain Slams Barack Obama on Fannie Mae & Freddie Mac!

    http://www.youtube.com/watch?v=1W2122Sbgh0

    Youtube thumbnail

    How Democrat Thieves Looted Fannie Mae and Freddie Mac - Barack Obama

    http://beltwayblips.com/story/how_democrat_thieves...

    Bill Clinton's changes done without the approval of Congress:

    "Freddie Mac, one of the primary government-sponsored enterprises involved in the purchase of mortgages, recently announced plans to enter the secondary market in subprime loans by purchasing significant numbers of "A minus" subprime mortgages by 1998 and the higher-risk "B and C" loans by 1999.(20) "

    "On June 6, 1996, President Clinton announced that he had directed FHA to reduce the up-front mortgage insurance premium (UFMIP) for first-time homebuyers who receive housing counseling"

    http://www.fha.gov/reference/ml1996/96-48ml.ddoc

    Clinton also picked his subordinates that made it happen.

    http://financialservices.house.gov/banking/41097ba...

  • sawaya
    Lv 4
    3 years ago

    the genuine question is why are companies inclusive of Fannie Mae and Freddie Mac approved to make political contributions? they're the two perceived with the aid of the known public to be government companies. We certainly % huge campaign finance reform.

  • 1 decade ago

    If this is in fact true, then his campaign promise that he would never take contributions from corporations or big money kind of floats through the pipes to the sewage treatment plant. Ah, you have to just love presidential election years, don't you?

  • 1 decade ago

    Actually, that is true when you look only at company donations. Obama got $126,195 from them.

    However, if you also take into account donations from their CEOs and other officers of the company, McCain actually got $195,135 from them. That is nearly $70,000 more than Obama got.

    It would appear that Fannie Mae and Freddie Mac were attempting to play both sides of the aisle, and were able to do so. It would also appear they wanted McCain to win, because they made their donations to him in a special way as to keep it hidden.

    You see, they tried to curry favor with Obama in case he wins by donating to him, but if they were discovered he'd go down with them.

    On the other hand, they made their donations to McCain their own names, and if you don't recognize their names you'd never know it was Fannie Mae and Freddie Mac donating to McCain. In essence, if they were caught they knew they'd go down for it, but would take Obama with them. But if they were caught, they would not be taking McCain down with them, despite the fact they donated $70,000 more to him.

    So neither has a leg to stand on here, but McCain is the one who got the dirtiest in this particular game...

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  • ATJ
    Lv 6
    1 decade ago

    When it comes to debating economics Obama needs to explain an awful lot to the American people! I don't understand these pinhead liberals they could care less that Obama profit ted off the housing disaster. That is why he doesn't want to return to Washington to solve the economic mess he is DIRTY and feds have been called in to see if anyone benefited off this disaster.

  • phil
    Lv 7
    1 decade ago

    looking at how all the dems are crying about where mccain got money. the point is obama said he wouldn't take money from them,and he did. so he is full of crap. guess obama is so squeaky clean,he is no different then the rest of the politicians. change my a$$

  • Anonymous
    1 decade ago

    Wow, McCain's lobbyist campaign worker got 3.2 million for lobbying Freddie and Fannie until last month. And guess who had his ear. McCain

  • 1 decade ago

    2 on these lists, has two former top executives from Fannie Mae as economic advisers...Do you smell conflict of interests?

  • 1 decade ago

    Wow, McCain having lobbyists running his campaign? Is that why he doesn't have a leg to stand on?

  • 1 decade ago

    Hate to blow it for ya, but McCain is #1 on that list.

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