Obama’s inconvenient ties to Fannie Mae
No wonder Democrats like Nancy Pelosi are trying like mad deny their responsibility to the current fiscal bust and falsely assign blame to Republicans. They’re neck deep in this after their heavy-handed efforts to force lenders to “make good on the American dream” by offering ill-advised mortgage loans to high risk borrowers.
Gateaway Pundit has the details tying this millstone squarely around the neck of Sen. Barack Obama.
In 2005– Senator John McCain partnered with three other Senate Republicans to reform the government’s involvement in lending, after an attempt by the Bush administration died in Congress two years earlier. Democrats blocked the reform.In 2005– Barack Obama and the Congressional Black Caucus met with Fannie Mae for a “family” event. In 2005 Democrats also blocked reform of Fannie Mae:
This was before Fannie Mae started filling the pockets of Barack Obama with political donations. The junior Illinois senator collected more money from Fannie Mae than any other Washington politician except Senator Dodd in the last decade.Obama was able to accomplish this feat in just 3 years.
The top three U.S. senators getting big Fannie Mae and Freddie Mac campaign contributions were Democrats, and No. 2 is Sen. Barack Obama, who scored $126,349 from PACs and individuals on their behalf.
Obama took huge political contributions from Fannie & Freddie and turned a blind eye to their shoddy business practices. Meanwhile, John McCain correctly identified the problem and predicted the coming disaster.
Now, what was it Democrats have been saying about McCain being unable to understand the economy? What was it they’ve been saying about Obama being a reformer?
Denial ain’t just a river in Egypt.
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UPDATE: Here’s a great article offering further details on Democrat obstruction and corruption regarding our economy, appropriately titled “It’s Time For Washington Politicans To Go Directly To Jail”
UPDATE: Welcome, Gator Country readers!
12th gen. American, Constitutionalist, Harley-riding Texan, gun owner & NRA member, blogger, illustrator, Florida Gator alumnus. #TCOT




[...] el.className = ""; « Obama’s inconvenient ties to Fannie Mae Happy "Talk Like A Pirate" Day ’08 [...]
[...] misguided priorities have fouled our banking system so thoroughly, and I’ve also contrasted Obama’s complicity in the market collapse with McCain’s and Bush’s attempts to reform [...]