Barack Obama, Fannie Mae and Freddie Mac

Today, all Barack Obama can do is accuse John McCain of lying about him, saying that John McCain is blaming him for the failure of Fannie Mae and Freddie Mac.

I haven’t heard John McCain actually blame Barack Obama for being the cause of the Fannie Mae and Freddie Mac failures. John McCain did say that, when a bill was proposed to reform Fannie Mae and Freddie Mac two years ago in 2006, Barack Obama silently sat by … essentially taking his “present” stand which he was infamously noted for in the Illinois legislature. At that time, it was widely known that both Fannie Mae and Freddie Mac had serious accounting problems.

Besides accusing John McCain of lying, Obama’s spokeman, Bill Burton, repeats his favorite slogan, “Well, John McCain is surrounded by 19 or 20 lobbyists who worked for Fannie Mae and Freddie Mac. I don’t know whether that’s actually true. It is a fact that Obama’s campaign has received over $165,000 from members or associates of those institutions while McCain has received about $22,000.

While John McCain received about $900 a year on the average from supporters of these entities, Obama has managed to accumulate over $40,000 a year in a very short time. That is an impressive record.

I would imagine that,if a person has already been paid off, lobbyists don’t need to waste their time on him.

Obama hides behind the excuse that he’s only been in Washington for a short time.How can he be responsible for the Fannie Mae and Freddie Mac? In spite of that short time in Congress, Obama managed to accumulate the second highest donations to members of Congress by associates of Fannie Mae and Freddie Mac. That’s right. He managed to collect eight times the donations from these people in less than four years than John McCain received in nearly 30 years.

Now. That’s real change.

We definitely need four years of that kind of record. Barack Obama is certainly trying to prove that the presidency of the United States can be bought.


3 Responses

  1. Thanks David … I think. My father and I shared an interest in computers while he was alive. As for the website design, one of the members of deserves the credit. I am studying web design to set up one of my own independently. It sounds like you should start your own blog. If you don’t have one I recommend WordPress.

    For the record, I’m an Independent. And I considered voting for Obama back in January … so I started researching him. The more I learned the less I liked. I actually agree with a number of his points since I consider myself a moderate as well. I tend to vote for people based on my opinion of their character, then the issues. Based on what I’ve learned about Obama as well as what I’ve seen and heard as I’ve watched him the past nine months, I think he’s an opportunistic liar. I think many of the people who wind up voting for him will be extremely disillusioned if he wins just as many were after voting for Jimmy Carter. Barack Obama isn ‘t Bill Clinton. Neither were Al Gore or John Kerry. I disagreed with Clinton on many things and never voted for him because I thought his character was ambiguous at best … even before his oval office escapades. No, I’m not a prude, but he did lie about it and I presume his wife was upstairs.

    I favored the Iraq invasion in principle but had severe reservations about it because of the military being gutted of more than a half million members after the first Iraq War. I also wondered who would fill the leadership void there which is still a problem. I actually favored Joe Biden’s suggestion that it be divided into three countries just to keep the “Iraqis” from killing each other. All the current geopolitical divisions in the Middle East are artificial anyway set up more or less after World War I.

    I could go on and on but I need to save something for a blog.

    Thanks for the comment.


  2. Earl,
    Your clearly an intelligent guy with a great knowledge of computers and website design. Your also a dyed in the wool Republican and blindly believe in their policies and principles. However, try as you like to lay the blame for the crumbling economy and the demise of the status of the USA in world affairs including the lack of trust we now face from our allies and enemies alike, on anybody but George Bush and his puppet master Cheney, you are disillusioned. Clinton was not the best president but he did leave office with a fairly good economy that included a balanced budget, government surpluses, low unemployment, low inflation and worldwide respect.. Bush is leaving his predecessor with a complete mess in both foreign and domestic affairs. He campaigned on less Government and less Regulation, and peace in the Middle East.. But he tried to pay for two wars with three tax cuts. This led to escalating deficits every year and Bush is responsible for adding nearly 4 trillion to the national debt and maybe more. His tax cuts did not trickle down and create new companies and new jobs. That money went into the bank or the mattresses of rich people and large corporations. His attempts to obtain peace in the Middle East failed miserably. However, I am not sure that can be directly attributed to Bush, peace in the Middle East may be a pipe dream. And you can watch on January 20 as Bush leaves office and goes directly to Texas to collect his quid pro quo from the Oil companies that owe him big. And you can also watch Cheney head directly to Halliburton for his quid pro quo, thanks to the many no-bid contracts given to Halliburton for the wars. I find it amazing that only an oil services company previously led by Cheney was the ONLY company in the entire world that could provide the services needed. Halliburton even runs the cafeterias, as if there aren’t other food service companies in the world who would be more qualified. Then these contracts were riddled with errors and overcharges, some of which were caught by the GAO and probably a lot of them that were not. I could go on, obviously. But I won’t, but watch the debate tonight and take a good look at our next president and I will give you a hint it’s the black one. And he will get the chance to lead this country with unprecedented democratic majorities in both houses, because the electorate is running away from Republicans. If George Bush is so great, how do you explain every republican running for office, especially John McCain, running as fast as they can from George Bush? I also can’t wait for the VP debate where I hope Sarah repeats her claim of foreign policy experience due to the location of Russia. Even though she has never spoken to one in her life! I am sorry Earl but your in for a tough eight years. But you can take comfort in the fact that the country will be able to rise above the problems of the Bush Administration and restore the economy and foreign affairs.

  3. Democrats created the Fannie Mae and Freddie Mac problems years ago. They stopped ALL eforts at reform until it was too late. Now they are trying to blame Bush, McCain and Republicans, everyone but themselves. That’s the Gods truth and here is the proof:

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