Subprime Blogger

Your Mortgage News Source

Obama Funded by Fannie Mae & Freddie Mac?

Posted on | October 28, 2008 | 5 Comments

Please use Subprime Blogger to get your interest rate forecast.  With interest rates being very volatile over the last few years, make sure to get your up-t0-date forecast today!

Was Obama funded by Fannie Mae & Freddie Mac?  Please notice that the video is dated 2005. Since that speech, Fannie Mae and Freddie Mac have lost approximately 97% of their value. Do you know who the presidential candidate who is the number two recipient of campaign contributions from Fannie Mae? How about the candidate who has taken advice from the former CEO of Fannie Mae, Franklin Raines. Mr. Raines, who happens to be African American, did nothing more than lose $90 million and run the company into the ground. That presidential candidate is not John McCain; it is Barack Obama.

The top recipients of Fannie Mae and Freddie Mac Campaign contributions from 1989-2008 is as follows:

Christoper Dodd – Democrat, CT – $133,900

John Kerry – Democrat, MA – $111,000

Barack Obama – Democrat, IL – $105,894

To quote “Would the Last Honest Reporter Please Turn Out the Light,”

“This financial crisis was completely preventable.  The party that blocked any attempt to prevent it was … The Democratic Party.  The part that tried to prevent it was … the Republican Party.”

On a side note, I am neither part of the Republican or Democratic party but I find this very interesting. What do you think about this issue?

Related Posts:

“President Obama, Please Take Note”

Subprime Lending in a Nutshell

Is the Fed Truly Making it Cheaper to Borrow Money?

Category: Politics
Tags: > >

Comments

5 Responses to “Obama Funded by Fannie Mae & Freddie Mac?”

  1. required
    October 28th, 2008 @ 1:35 pm

    have you thought about an RSS feed?

  2. Wendy!
    October 29th, 2008 @ 7:25 am

    I’m a Democrat who will be voting for McCain…because I see through his “so called” message of change…

    He has also taken more money from special interest by a 2-1 margin (including the financial industry) than any other candidate currently running for president. BY A 2-1 margin.

    55% of his money comes from special interest NOT small donors as he would like everyone to believe. He is NOT change…he is much much more of the same…

  3. admin
    October 31st, 2008 @ 9:12 pm

    Thank you for being honest Wendy; it should be a very interesting few months!

  4. Candace
    November 1st, 2008 @ 11:34 am

    McCain recieved 21,550 from Fannie Mae as well. Also look at His ties to his campaign manager Rick Davis and his ties along with McCain to Freddie Mac.

    The McCain camp was also dealing with reports about the lobbying work of campaign manager Rick Davis.

    The New York Times reported back in Sept that Davis was paid almost $2 million in fees over five years by a group primarily funded by Freddie Mac and Fannie Mae that was intended to help stave off more stringent federal regulation of the housing companies.

    If you are going to tell the story tell the whole story. the NY Times and News Week as well as every other major journal caried the story and it got pushed under the rug
    http://www.huffingtonpost.com/2008/09/23/freddie-mac-paid-mccain-c_n_128770.html

  5. Subprime Blogger » Subprime Lending in a Nutshell
    January 14th, 2009 @ 2:25 pm

    [...] Obama Funded by Fannie Mae & Freddie Mac? [...]

Leave a Reply





    • Subprime Blogger is Digg proof thanks to caching by WP Super Cache!