Sunday, September 21, 2008

Fannie Mae and Freddie Mac huge donors to Obama-Liberal Media fails to notice

Two months ago the Government announced that it would prop up mortgage buyers Fannie Mae and Freddie Mac.
The top three recipients of campaign contributions from Fannie Mae and Freddie Mac are all Democrats :

  1. Dodd, Christopher J (D)-$165,400

  2. Obama, Barack (D)-$126,349

  3. Kerry, John (D)-$111,000

  4. ............................................

  1. McCain John (R)-$21550

As is glaringly obvious from these statistics Barack Obama was a major recipient of campaign contributions from Fannie Mae and Freddie Mac. Yet the liberal media in general has failed to highlight this.
"I join as a cosponsor of the Federal Housing Enterprise Regulatory Reform Act of 2005, S. 190, to underscore my support for quick passage of GSE regulatory reform legislation. 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." -Sen. John McCain


Merge Divide said...

Why are you participating in the dissemination of lies? The investigation McCain participated in regarding Fannie Mac concerned a $5 billion accounting scandal. It had nothing to do with confronting the deregulation that led the US to the brink of financial disaster.

This debacle has everything to do with the actions of McCain's top economic adviser and former senator Phil Gramm. In 1999 he introduced the Gramm-Leach-Bliley Act, which deregulated the $62 trillion Credit Default Swap (CDS) market that is spurring Wall Street's collapse. John McCain voted for that bill and worked hard in Congress to make sure it was passed.

Where do you get your information? Do you know who Rick Davis is?

"Rick Davis was in charge of the Homeownership Alliance, a Fannie/Freddie lobbying group that was aimed at stopping "unfounded fears about risks to the housing system," according to its website. Rick Davis is now running the McCain campaign. (Oh and—at least 20 McCain fundraisers have lobbied on behalf of Freddie and Fannie in recent years.)"


Make every effort to inform yourself.

John Barry said...

My comments are 100% correct. Democrats gladly went along with the policies pursued by Fannie Mae. Afterall were they not concerned with housing those on low income?
The top three recipients of campaign contributions from Fannie Mae were Democrats. Barack Obama was the second highest recipient.
Take a look at the video exposing the links between Fannie Mae and the Democrats including Obama which I posted on this blog Sunday September 21st(yesterday).
Now consult Hot Air
Inform yourself

Merge Divide said...

Interesting how you attempted to completely sidestep the content of my post.

I think it is very shameful to try to suggest that black families buying homes are responsible for the current crisis. Why do you have to make this a racial thing? You guys might be right in claiming that race could decide this election.

Do you even know what a credit default swap is? Keep making excuses for your "Greatest Deregulator".

The link to "Hot Air" is simply another tired article demonstrating that McCain went along with a Bush administration investigation focused on a $5 billion accounting scandal. That was simply a petty vindictive action aimed at trying to punish the Dems for slamming the former Enron execs. I've seen it cut-and-pasted all over the internet- I realize it is the big Right Wing talking point.

I heard about it first on Rush, then on Hannity and a local guy's show... one after another last Friday. It has nothing to do with the impending economic collapse.

Try thinking for yourself.

John Barry said...

Read list of Board Members of Fannie May and Freddy Mac. How many Democrats Here ?
Democrats happily went along with deregulation all along. Where in my post did I single out black families? Are no white families poor? The video also clearly indicates links between Democrats/Obama and Fannie May.
Of course the Dems top their campaign contributions list-with Obama number two. Stop codding yourself about the Democrats.

Merge Divide said...

You can feel free to spin it any way you want, McCain is proud of his history of deregulation. That's why he wants to place Phil Gramm, Rick Davis and Andrew Cuomo in key economic adviser positions in his presumptive cabinet.

That's why he's proudly stated:

"Opening up the health insurance market to more vigorous nationwide competition, as we have done over the last decade in banking, would provide more choices of innovative products less burdened by the worst excesses of state-based regulation."

That quote is not from years ago... it's in the SEPT/OCT 2008 issue of Contingencies, the magazine of the American Academy of Actuaries.

Show me Obama's record of deregulation or a stated commitment to it, and then you'll have a leg to stand on in this argument.

John Barry said...

The Democrats rode the deregulation tiger. I have given more than enough examples in my posts on this blog and in my replies to you. It is not spin, it is fact.
Deregulation of the insurance industry can work if proper safeguards are in place. Would you suggest Nationalisation?
The problem with Obama is that he has got no record on anything. He has achieved nothing as a senator.
His proposals for health will result in a huge increase in the tax burden as a higher proportion of the population ages? If you desire 60% income tax rates to pay for "Free Health" vote for him.

Merge Divide said...

Nationalization is the Bush plan for socializing the losses in the Wall Street debacle. Obviously, I'm against that.

Whether or not most Democrats "rode the deregulation tiger" under Clinton is completely beside the point. The GOP was the tiger. And Obama wasn't in the Democratic "good-ol'-boy" club. So it's completely irrelevant.

If you honestly think that Obama is trying to, or intends to socialize medicine in the US, then you are more brainwashed than I thought.

John Barry said...

Obama certainly intends to socialise medicine. In theory a good idea. In practice a disaster. His plans for medicine are a taxpayer's horror.
He wants to give health insurance to 12 million illegal aliens plus 35 million others who don't get it now from their work or who are unemployed. He will tax those who work in order to give it too them.
If you want high Swedish like income tax rates vote for Obama. As the percentage of elderly increases the burden on tax payers rockets. Take a look at France and Sweden. America has a chance to draw back from the abyss on health expenditure.

Merge Divide said...

This is definitely getting off topic, but calling Obama's health reform "socialist" is crassly simplistic at best, and a dishonest scare tactic at worst.

Socialism= "Socialism refers to a broad set of economic theories of social organization advocating state or collective ownership and administration of the means of production and distribution of goods, and the creation of an egalitarian society"

Obviously you have been listening to too much right wing talk radio. Those guys are constantly confusing their definitions, and then justifying it with anti-intellectual rhetoric.

If you are truly interested in learning about the reality of Obama's health plan (which I suspect you are not), HERE are the basics.

And by the way, Obama has already acknowledged that he has to revisit some of his social programs due to the current financial collapse. The truth is that taxes are going to have to go up eventually to start chipping away at the ludicrous national debt. At least European nations receive some social benefits in exchange for their taxes. In a few years you might be salivating at the mouth thinking of Sweden's comparatively minimal tax burden.

John Barry said...

Obama has the support of the US Communist Party and the Democratic Socialists of America(Trotskyites) The are obviously happy enough with his Socialist credentials. I am well versed in Socialist theory.
The American tax payers will be bled dry if Obama's health plans go ahead. Just ask Swedish and French taxpayers

Merge Divide said...

That's my point- American tax payers are already set to be bled dry- with or without the health plan (which will be a trivial cost alongside the bailout, Republican-sponsored corporate subsidies, and the multiple wars we are already in). At least health reform would help Americans. We get little to nothing as it is. Do you have any idea what Obama's plan will cost? If you do, provide sources (don't bother linking to newsmax or far right wing crap like that- I won't waste my time).

As far as the Socialist organizations endorsing Obama- show me the links. Even if it is true, that doesn't make Obama a socialist. Just because millions of racists are set to vote for McCain doesn't make McCain a racist.That's just illogical.

John Barry said...

Re Democratic Socialists of America
see NewZeal
RE Communist Support See Renew America and Moonbattery and Propeller. Also note influence of Frank Marshall Davis Accuracy in Media
Re Health Insurance:Obama wants to give health insurance to 12 million illegal aliens plus 35 million others who don't get it now from their work or who are unemployed. The implications are horendous when added to his other campaign promises. If Obama were a genuine agent of change he would make no new promises. In addition his support for partial birth abortion is outrageous.

Merge Divide said...

C'mon John,

"New Zeal" is a Mew Zealand socialist website making unsubstantiated and vague claims about Obama attending a socialist meeting as a teen. Then in 1996 he was a panelist at a University of Chicago event called "Employment and Survival in Urban America". That wasn't a "socialist event" just because DSA was one of about 15 different sponsors. Did you even read this before posting it?

The links to the communist sites reveal the same kinds of flimsy innuendo and pure crap. Supposedly some guy took an interest in Obama when he was a kid, and this guy (a poet) was once accused of belonging to the Communist Party, 20+ years before he ever met Barack.

Meanwhile the Communist Party "endorsement" starts out with the sentence "Barack Obama is not a left candidate." Then they go on to say that despite his centrist leanings, it would be good to have a black guy instead of Bush.

Are you guys serious with this stuff? I can't believe you wasted my time with such ridiculous nonsense.

John Barry said...

Read Pastor Blastor in its entirety.Obama's Communist Leanings Beginning to Catch Up to Him...

Merge Divide said...


How come you didn't respond to my last post? Pastor Blaster simply brings up the same exact things I read in those other links. Associations that Obama had as a teen and early in his career, well after the point that these "associates" were involved in "socialist activities". Even if they still have socialist tendencies- so what?

I hang out with plenty of folks that are "free market" idealogues and who trumpet unfettered and total deregulation, and I haven't let their extreme views corrupt me. Just because you listen to Rush Limbaugh everyday doesn't necessarily make you a lying scumbag.

John Barry said...

"Sen. Barack Obama has grown up with the teaching of very angry, militant white and black people: the Rev. Jeremiah Wright, Louis Farrakhan, William Ayers and Rev. Michael Pfleger. We cannot say we are not affected by teachers who are militant and angry. We know too well that we become like them, and Mr. Obama will run this country in their mindset"
from WashingtonTimes

Merge Divide said...

OK... then I take it back then. You are exactly like Limbaugh, Hannity, et al... completely willing to bend the truth to support your otherwise untenable positions.

Why don't you just lay it out... tell me all about the positions and comments from Obama that correlate with your perceptions of those "angry black men".