Which Candidate Do Fannie Mae and Freddie Mac Donate Most To?


So, which candidate are housing crunch boondoggles Fannie Mae and Freddie Mac hoping will bail them out of their troubles, using the hard-earned money of responsible house-owners and tax payers?

At first glance, it seems that McCain is the one benefiting most from Fannie & Freddie donations. On a tip from commentor Heavenly, from The New York Times:

Fannie Mae Freddie Mac 2008 Campaign Donations

As Heavenly summarizes:

2008 Campaign Contributions from Fannie & Freddie
John McCain- $169,000
Barack Obama- $16,000

Why, that two faced old sneak! Maverick nuthin’!

Ah, but wait… This is the New York Slimes we’re talking about. So let’s take a look further back where we will find, on a tip from commentor Ayoyosamy, from OpenSecrets.org:

Fannie Mae Freddie Mac 20 Years Donations

As Ayoyosamy points out:

The top three U.S. senators getting big Fannie and Freddie political bucks were Democrats and No. 2 is Sen. Barack Obama.

Now remember, he’s only been in the Senate four years, but he still managed to grab the No. 2 spot ahead of John Kerry — decades in the Senate — and Chris Dodd, who is chairman of the Senate Banking Committee.

Um, I’m a bit confused as to what he actually means, but this much is clear: In 20 years history of donations, Senator Barack Hussein Obama with just 4 years in the Senate managed to reach the top three biggest recipients of Fannie Mae and Freddie Mac!!!

Now, that’s Change! For the worse!

The Fannie & Freddie directors are just trying to even out their contributions between Obama and McCain in this last lap.

And via Moonbattery, a video of Fannie Mae’s CEO back then thanking the Democrats (and specifically Obama’s Congressional Black Caucus) as ‘family’:

Even Bloomberg.com rightly puts blame on Dems for housing crisis!

Honestly, I don’t see why people who bought houses responsibly have to fork out their cash because of the foolishness of others. That’s Socialism in its ugliest form, punishing the hardworking and capable to reward the lazy and blundering. Minus points for any candidate who succumbs to the easy votes of irresponsibility.

See also how Bush called for reform of Fannie Mae and Freddie Mac 17 times, ignored by Dem-controlled Congress

For many years the President and his Administration have not only warned of the systemic consequences of financial turmoil at a housing government-sponsored enterprise (GSE) but also put forward thoughtful plans to reduce the risk that either Fannie Mae or Freddie Mac would encounter such difficulties. President Bush publicly called for GSE reform 17 times in 2008 alone before Congress acted.

Unfortunately, these warnings went unheeded, as the President’s repeated attempts to reform the supervision of these entities were thwarted by the legislative maneuvering of those who emphatically denied there were problems.

[Detailed list follows.]

See also Ann Coulter – They Gave Your Mortgage To A Less Qualified Minority:

Under Clinton, the entire federal government put massive pressure on banks to grant more mortgages to the poor and minorities.

Instead of looking at “outdated criteria,” such as the mortgage applicant’s credit history and ability to make a down payment, banks were encouraged to consider nontraditional measures of credit-worthiness, such as having a good jump shot or having a missing child named “Caylee.”

Threatening lawsuits, Clinton’s Federal Reserve demanded that banks treat welfare payments and unemployment benefits as valid income sources to qualify for a mortgage. That isn’t a joke — it’s a fact.

See also How Democrats are responsible for the housing meltdown:

[I]t was the Clinton administration, obsessed with multiculturalism, that dictated where mortgage lenders could lend, and originally helped create the market for the high-risk subprime loans now infecting like a retrovirus the balance sheets of many of Wall Street’s most revered institutions.

Tough new regulations forced lenders into high-risk areas where they had no choice but to lower lending standards to make the loans that sound business practices had previously guarded against making. It was either that or face stiff government penalties.

Also, via Moonbattery:

Again via Moonbattery:

Obama Fannie Mae Freddie Mac cartoon

Obama Fannie Mae Freddie Mac cartoon

Obama Fannie Mae Freddie Mac cartoon

Obama Fannie Mae Freddie Mac cartoon

Obama Fannie Mae Freddie Mac cartoon

Obama Fannie Mae Freddie Mac cartoon

Above also at the Pig-Lipstick post.

Following from The Ryskind Sketchbook, which has link to a 2002 interview with vice-chairman of Fannie Mae, Jaime Gorelick, explaining why there is no need for a Republican investigation of her company:

Democrats Fannie Mae Freddie Mac cartoon

Following from Red Planet Cartoons which explains how, again, it is the Democrats’ fault:

Democrats Fannie Mae Freddie Mac cartoon

Democrats Fannie Mae Freddie Mac cartoon

Democrats Fannie Mae Freddie Mac cartoon

Democrats Fannie Mae Freddie Mac cartoon

More cartoons involving Palin at Sarah Palin Tribute Editorial Cartoons:

Sarah Palin cartoon

Sarah Palin cartoon

Following from Baloo Cartoons:

Sarah Palin cartoon

Tags: , , ,

29 Responses to “Which Candidate Do Fannie Mae and Freddie Mac Donate Most To?”

  1. Lisbon Treaty Says:

    The United Nations is presently unable break up a skirmish between two warring Girl Scout factions, so how they’re supposed to aid the world is an even bigger conundrum.ArthurLottiArthur Lotti

  2. jezb1 Says:

    In light of John McCain’s attacks against Barack Obama for having connections to Fannie Mae and Freddie Mac, McCain may want to examine his own staffers’ backgrounds. It turns out that McCain’s campaign manager Rick Davis was paid about $350,000 per year for five years to head up a lobbying organization for those very same mortgage brokers.

  3. jezb1 Says:

    From the Federal Reserve:
    “Federal Reserve research suggests that CRA covered institutions have been able to extend such loans profitably and that the performance of such loans is about the same as that of other mortgage loans.”

    http://www.federalreserve.gov/newsevents/testimony/braunstein20080213a.htm

  4. gander Says:

    McCain Camp Needs To Be Pushing Back, and Putting the Blame for the Financial Crisis Where It Belongs…With Democrats!

    Ed Morrissey explains why this is important, and why John McCain needs to push back against the way the media has painted this.

    We can play blame games for the next several months and years, but what would be the point? In this case, there is a point, and it couldn’t be more clear or important. We have two candidates running for President who would bring much different styles to executive authority over regulatory responsibility. Barack Obama and his allies took the money and stayed on the sidelines rather than take proactive action to resolve the credit crisis. McCain and his co-sponsors of this bill had the right idea and instincts, but could not get any cooperation from Clinton, Schumer, or Obama.

    In simple summary, Republicans including John McCain tried to prevent this crisis back in 2005, and Democrats like Barack Obama chose self interest over doing so. Can we expect the media to report these facts? Of course not.

    http://www.stoptheaclu.com/archives/2008/09/22/mccain-camp-needs-to-be-pushing-back-and-putting-the-blame-for-the-financial-crisis-where-it-belongswith-democrats/

  5. gander Says:

    McCain Camp Needs To Be Pushing Back, and Putting the Blame for the Financial Crisis Where It Belongs…With Democrats!

    Ed Morrissey explains why this is important, and why John McCain needs to push back against the way the media has painted this.

    We can play blame games for the next several months and years, but what would be the point? In this case, there is a point, and it couldn’t be more clear or important. We have two candidates running for President who would bring much different styles to executive authority over regulatory responsibility. Barack Obama and his allies took the money and stayed on the sidelines rather than take proactive action to resolve the credit crisis. McCain and his co-sponsors of this bill had the right idea and instincts, but could not get any cooperation from Clinton, Schumer, or Obama.

    In simple summary, Republicans including John McCain tried to prevent this crisis back in 2005, and Democrats like Barack Obama chose self interest over doing so. Can we expect the media to report these facts? Of course not.

    stoptheaclu.com/archives/2008/09/22/mccain-camp-needs-to-be-pushing-back-and-putting-the-blame-for-the-financial-crisis-where-it-belongswith-democrats/

  6. casey Says:

    Hussein Obama not fit to lead:
    http://directorblue.blogspot.com/2008/09/any-questions.html

  7. casey Says:

    Want another shocker? Barack Obama has received more from one source–Goldman Sachs $542,252.00–than McCain has from all of the companies combined. Who the hell is more beholden to lobbyists? And why does a junior Senator from Illinois rate this kind of dough?

    http://noquarterusa.net/blog/2008/09/21/baracks-wall-street-problem-is-now-americas/

  8. francie Says:

    why not require the rnc and the dnc to pay back all political “donations” where in the hell does a quasi governmental agency get off playing in politics and paying huge salaries and bonuses to these clowns? it appears to me that these clowns answered to no one. where was the oversight? how much did barney frank get for his”campaigns”? DEPRESSION

  9. jezb1 Says:

    The Big Question: 2+2=4?
    09.21.08 — 8:48PM By Josh Marshall
    The New York Times reports this evening that “foreign banks, which were initially excluded from the [Wall Street bailout] plan, lobbied successfully over the weekend to be able to sell the toxic American mortgage debt owned by their American units to the Treasury, getting the same treatment as United States banks.”

    The Times further reports that two of the biggest foreign banks in need of such relief are Barclays and UBS. In fact, my understanding is that UBS is more on the line here than any other foreign bank.

    Let’s add this up.

    John McCain’s top economics advisor, who is widely believed to be his choice for Treasury Secretary, should he win in November, is former Sen. Phil Gramm. (Indeed, just last night his spokesman refused to say Gramm wouldn’t be McCain’s choice for Treasury Secretary.)

    Gramm is both vice chairman of UBS’s US division and a lobbyist for UBS.

    If UBS successfully lobbied over the weekend to get in on the bailout, what was Gramm’s role in the lobbying?

  10. 2nd chance Says:

    If UBS successfully lobbied over the weekend to get in on the bailout, what was Gramm’s role in the lobbying?

    Tell us.

  11. jezb1 Says:

    Another John McCain connection to a Fannie/Freddie lobbyist…
    http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aQIOOr9klOnE

    2nd chance – doesn’t really matter what Gramm’s role in the lobbying was. UBS is getting the bailout for poor management.

  12. 1st chance Says:

    2nd chance – doesn’t really matter what Gramm’s role in the lobbying was.

    Then why bring it up at all.
    Sure McCain in 18 years would have had some connection with fanny/fred, but the son of Hussein was gorging on that refuse pile.

  13. jezb1 Says:

    1st chance – The statement was at the end of the news article. Next time I’ll edit the article to selectively delete the sections I don’t feel are relevant. Would that be better?

  14. 1st chance Says:

    Up to you

  15. jezb1 Says:

    Re: Fannie/Freddie lobbyist Timmons – McCain is specifically choosing Timmons to be part of his transition team. This is current and possibly future. Not part of the last 18 years.

  16. 1st chance Says:

    How the Democrats Created the Financial Crisis: Kevin Hassett
    [ ]

    There has been a lot of talk about who is to blame for this crisis. A look back at the story of 2005 makes the answer pretty clear.

    Oh, and there is one little footnote to the story that’s worth keeping in mind while Democrats point fingers between now and Nov. 4: Senator John McCain was one of the three cosponsors of S.190, the bill that would have averted this mess.

    http://www.bloomberg.com/apps/news?pid=20601039&refer=columnist_hassett&sid=aSKSoiNbnQY0

  17. 1st chance Says:

    Five years ago, Republicans proposed “the most significant regulatory overhaul in the housing finance industry [in a decade].” (Source: New York Times)

    Democrats on the House Financial Services Committee blocked efforts at fixing Fannie and Freddie. Rep. Barney Frank (D-MA) said, “Fannie Mae and Freddie Mac… are not facing any kind of financial crisis,”

    At least 18 times since 2001 Democrats blocked efforts at overhauling Fannie and Freddie even as accounting scandals and executive ripoffs became public.

    Why? For starters, the top two recipients of Fannie and Freddie campaign donations were Democrat fatcats Chris Dodd ($165K) and Barack Obama ($126K) (Source: Open Secrets)

    And Fannie Mae paid well. Clinton-era Democrats, serving as the CEO, CFO and Vice Chairman, paid themselves $200 million in only six years even while a $10 billion accounting scandal was exposed. (Source: Wall Street Journal)

    And Democrats like Chris Dodd also got favorable loans under a “VIP program.” Dodd alone saved over $75,000 on his mortgage payments. (Source: Conde Nast Portfolio)

    So where are former Fannie Mae CEOs like Franklin Raines ($90 million in salary) and Jim Johnson ($21 million in salary in one year)? As you might expect, they’re serving as Barack Obama’s key economic advisers. (Source: Washington Post)

    Hiring Fannie Mae’s two former CEOs as economic advisers? Barack Obama: not ready to lead.

    http://directorblue.blogspot.com/2008/09/any-questions.html

  18. 1st chance Says:

    Five years ago, Republicans proposed “the most significant regulatory overhaul in the housing finance industry [in a decade].” (Source: New York Times)

    Democrats on the House Financial Services Committee blocked efforts at fixing Fannie and Freddie. Rep. Barney Frank (D-MA) said, “Fannie Mae and Freddie Mac… are not facing any kind of financial crisis,”

    At least 18 times since 2001 Democrats blocked efforts at overhauling Fannie and Freddie even as accounting scandals and executive ripoffs became public.

    Why? For starters, the top two recipients of Fannie and Freddie campaign donations were Democrat fatcats Chris Dodd ($165K) and Barack Obama ($126K) (Source: Open Secrets)

    And Fannie Mae paid well. Clinton-era Democrats, serving as the CEO, CFO and Vice Chairman, paid themselves $200 million in only six years even while a $10 billion accounting scandal was exposed. (Source: Wall Street Journal)

    And Democrats like Chris Dodd also got favorable loans under a “VIP program.” Dodd alone saved over $75,000 on his mortgage payments. (Source: Conde Nast Portfolio)

    So where are former Fannie Mae CEOs like Franklin Raines ($90 million in salary) and Jim Johnson ($21 million in salary in one year)? As you might expect, they’re serving as Barack Obama’s key economic advisers. (Source: Washington Post)

    Hiring Fannie Mae’s two former CEOs as economic advisers? Barack Obama: not ready to lead.

    directorblue.blogspot.com/2008/09/any-questions.html

  19. jezb1 Says:

    Jim Johnson left Obama’s vice presidential search committee June 11 after just a week, following reports that he received preferential mortgage rates from Countrywide Financial Corp., which suffered losses due to the collapse of the subprime-mortgage market and was bought by Bank of America Corp.

    McCain’s campaign also ran an advertisement that said Obama had received advice on housing issues from a more recent Fannie Mae chief executive officer, Franklin Raines.

    Re: 2005 S.190. Good for John McCain for introducing it. I’ll give him that. But Barack Obama had nothing to do with killing the bill. It was killed in the Senate Banking Committee, and Barack Obama was not a member of the Senate Banking Committee.

    Raines said he had only met Obama once, before Obama was sworn in as a senator in January 2005. “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 released last week by the campaign.

    Campaign-finance reports show that Raines hasn’t contributed money to the Obama presidential campaign either.

  20. jezb1 Says:

    oops. Re: 2005 S.190 paragraph should be the last paragraph of the article!

  21. jezb1 Says:

    More on 2005 s.190. It was introduced into the 108th congress and failed, so it rolled forward to the 109th Congress. The 109th Congress Senate Banking Committee members killed the bill.
    http://www.govtrack.us/congress/bill.xpd?bill=s109-190

    The Senate Banking Committee of the 109th Congress had a Republican majority membership, and the Chairmain was Republican Richard Shelby of Alabama:

    109th Congress (2005-2006)
    Members of the
    Senate Committee on Banking, Housing, and Urban Affairs,
    109th Congress

    Democrats:
    Paul S. Sarbanes (Md.), Ranking Member
    Christopher Dodd (Conn.)
    Tim Johnson (S.D.)
    Jack Reed (R.I.)
    Chuck Schumer (N.Y.)
    Evan Bayh (Ind.)
    Thomas R. Carper (Del.)
    Debbie Stabenow (Mich.)
    Robert Menendez (N.J.)

    Republicans:
    Richard Shelby (Ala.), Chairman
    Robert Bennett (Utah)
    Wayne Allard (Colo.)
    Mike Enzi (Wyo.)
    Chuck Hagel (Neb.)
    Rick Santorum (Pa.)
    Jim Bunning (Ky.)
    Mike Crapo (Idaho)
    John E. Sununu (N.H.)
    Elizabeth Dole (N.C.)
    Mel Martinez (Fla.)

    http://www.sourcewatch.org/index.php?title=Senate_Committee_on_Banking%2C_Housing%2C_and_Urban_Affairs

  22. thepeople Says:

    What propelled it was legislation by the Clinton gomen to force banks to finance certain sectors backed by people likie obama and rezko. Banks that did not finance would be penalised. The banks then sold these loans to fannie and freddie freeing themselves to give out even more loans. It was a snowball effect.
    Malaysia`s version are Cagamas.
    http://www.cagamas.com.my/

  23. thepeople Says:

    The buckshot: Bill Daley’s name is at the top of the list.

    Quoth Daley: McCain “cuts an ad making it look like I’m a thief and a gangster like Rezko” — that would be Tony Rezko, the former campaign fund-raiser for Obama and Gov. Blagojevich who was convicted on federal charges in June. [snip]

    Daley’s ire: Daley, who is identified as Obama’s economic adviser, is furious with being associated with Rezko, described in the ad as a convicted felon — and Obama’s patron and money man. Furthermore, he’s included in a list that describes Blagojevich as having a legacy of federal and state investigations.

    http://therealbarackobama.wordpress.com/

  24. thepeople Says:

    The buckshot: Bill Daley’s name is at the top of the list.

    Quoth Daley: McCain “cuts an ad making it look like I’m a thief and a gangster like Rezko” — that would be Tony Rezko, the former campaign fund-raiser for Obama and Gov. Blagojevich who was convicted on federal charges in June. [snip]

    Daley’s ire: Daley, who is identified as Obama’s economic adviser, is furious with being associated with Rezko, described in the ad as a convicted felon — and Obama’s patron and money man. Furthermore, he’s included in a list that describes Blagojevich as having a legacy of federal and state investigations.

    therealbarackobama.wordpress.com/

  25. Straight talk Says:

    There is plenty of blame to go around: Gramm, McCain’s chief financial advisor and co-chair of his campaign. (Gramm is being spoken of by the McCain campaign as a top candidate for Treasury Secretary) lead to the Gramm-Leach-Bliley Act which deregulated banks and was almost single handedly responsible for de-regulating banks and slipped an amendment into an omnibus appropriations bill which deregulated the trading of financial instruments and allowed banks and brokers to trade mortgages as if they were stocks and bonds.

    All this focus on trying to decide who caused the messed just avoids the real issue – what do we do now! McCain’s plan for fixing the economy has to date come down to moving around heads from SEC to the Treasury – he has a lot of work to do to convincingly show he has a clear understanding of the drivers of the crisis.

  26. Denny Says:

    This just goes to show that the NYTimes is an Obama propaganda machine not worth listening to.

  27. Heavenly Says:

    Wow I am a star now!

    HAHAHAHAHAH

  28. Franks, Schumer, Dodd et al… Fannie and Freddie political incest « The Sadim Touch Says:

    […] Which Candidate Do Fannie Mae and Freddie Mac Donate Most To? […]

  29. mamukka Says:

    mamukka…

    […]Which Candidate Do Fannie Mae and Freddie Mac Donate Most To? « LEADING MALAYSIAN NEOCON[…]…

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