So these are the people we want running our economy. Fannie Mae and Freddie Mac have been democratic darlings for years. Carter set it up and Clinton expanded it into what it is today. The noble goal was to allow minorities, and lower income folks, to own a house,despite the fact that they wouldn't be able to make the payments. So banks would then buy the mortgage. Everyone makes out nice except the people who lost their home.
The dems and these entities are in bed with the democratic party.The CEO of Fannie Mae called the democrats and Obama "Our family" and "Our conscience".
Newsbusters has a great article on this.
Obama is blaming McCain and the republicans for the current economic crisis, particularly these two entities going belly up and bailed out. So why then are some of the very people that were in charge of Freddie Mac and Fannie Mae on his campaign?
Obama has often spoke about getting rid of lobbyists and the 'politics of old'. Yet according to OpenSecrets.org Barack Obama was 2nd in the amount of money that Freddie Mae and Fannie Mac has contibuted to members of Congress. Obama received $126,349. The only person to receive more was Chris Dodd-Democrat with $165,400. John Kerry was third with $111,000. To be fair there are plenty of republicans on this list as well, but the striking thing is how much Obama has been given in such a short period of time. Chris Dodd and John Kerry have been in the Senate for years and that is the sum total they have received. Obama, on the other hand, received that much in less than 3 years!
To his credit John McCain warned that this was coming in 2005.
The democrats thrive on misery.Your misery.They want to drill poor people and minorities the way republicans want to drill oill. Tell me which damages you more.