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Cover Your Fannie, Obuma


Like some butter on you're toast?


nteresting headline:

Leader of Obama's VP Search Team Quits
Former Fannie Mae Chief Was Criticized Over Loan Deals

By Jonathan Weisman
Washington Post Staff Writer
Thursday, June 12, 2008; A01

James A. Johnson, a consummate Washington insider and former Fannie Mae chief executive, resigned yesterday from Sen. Barack Obama's vice presidential search committee, just four days after he was caught up in controversy over low-interest home loans and lucrative business deals.

No wonder you were only "present" again back in 2005, when Senator McCain was asking you to support increased oversight authority so the administration could better regulate your beloved Fannie, Mr. Odonothing-uh. Even after Senator McCain warned you and your fellow Demoqrats Qommunists that, "If Congress does not act, American taxpayers will continue to be exposed to the enormous risk that Fannie Mae and Freddie Mac pose to the housing market, the overall financial system and the economy as a whole."

However, what is a wonder is that — given those bookending your pointy head, Freshman Junior Senator OdumbO — his warnings simply fell on your hopelessly deaf ears.

Your party miserably failed to do anything at all about the looming crisis. Other than to obstruct, deny, and filibuster any and all needed Change®, that is. Even after

The Bush administration today [September 11, 2003] recommended the most significant regulatory overhaul in the housing finance industry since the savings and loan crisis a decade ago.

Under the plan, disclosed at a Congressional hearing today, a new agency would be created within the Treasury Department to assume supervision of Fannie Mae and Freddie Mac, the government-sponsored companies that are the two largest players in the mortgage lending industry.

A plan supported by congressional Republicans. But opposed by DemoFanniecrats, of course.

Now what possible reasons could you have for doing, as usual, absolutely nothing? Be$ide$ your 105,849 more of the $ame one$?

Speaking of which,

Fannie Mae, Freddie Mac execs now offering advice to Obama
Senator's links to mortgage giants also include campaign contributions

Posted: September 17, 2008 9:10 pm Eastern
By Jerome R. Corsi

NEW YORK – Campaign contributions from Fannie Mae and Freddie Mac made to Barack Obama may backfire if the Democratic presidential hopeful wages an aggressive campaign to cast blame on rival John McCain and the Republicans in Congress for the mortgage-related losses that forced the U.S. Treasury to take over the quasi-governmental mortgage giants.

A review of Federal Election Commission records back to 1989 reveals Obama in his three complete years in the Senate is the second largest recipient of Freddie Mac and Fannie Mae campaign contributions, behind only Sen. Christopher Dodd, D-Conn., the powerful chairman of the Senate banking committee. Dodd was first elected to the Senate in 1980.

One more:

McCain hits Obama on Fannie Mae ties

Posted by Foon Rhee, deputy national political editor September 18, 2008 06:20 PM

John McCain unveiled a new TV ad this afternoon that tries to paint Democratic rival Barack Obama as so inexperienced on the economy that he has to listen to shady characters.

"Obama has no background in economics," the announcer says.

"Who advises him? The Post says it's Franklin Raines, for 'advice on mortgage and housing policy,'" the announcer says, citing a Washington Post report this week.

"Shocking. Under Raines, Fannie Mae committed 'extensive financial fraud,'" the announcer says, as another newspaper headline appears on screen. "Raines made millions. Fannie Mae collapsed."

Raines, the head of Fannie Mae from 1998 to 2004, agreed in April to pay nearly $25 million in a settlement with the government in an accounting scandal.

"Taxpayers? Stuck with the bill," the announcer continues, as an image of an elderly woman appears. "Barack Obama, bad advice, bad instincts. Not ready to lead."

UPDATE: Obama's campaign just issued a response, including a denial from Raines.

"I am not an adviser to Barack Obama, nor have I provided his campaign with advice on housing or economic matters," Raines said in a statement.

Such "I am not a crook" denials, notwithstanding, what flowery sounding Hopenchange™ Plan® do you have, El ZerO, for delivering a good, swift kick to that crooked Fannie of yours?


No, I can't, uh, hear you over the, um, crickets.

The Crickets' Teleprompter

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