The Right grovels, the Left takes the spoils
We had previously shown how the Bush administration had so willingly run along with the Left’s agenda to provide affordable housing to minorities, demanding that 50% and more of Fanny Mae mortgages go to minorities, and even trying to foist a “no-downpayment” scheme on the public.
Today we look at how the other side of the aisle, including Barack Obama, shamefully benefitted from Fanny and Freddy’s donations.
It is clear from all reports that, while Bush and RINOs groveled to ingratiate themselves with the kingpins of Big Mortgage, these kingpins were pushing for more power to the Left.
The easiest explanation why the Republicans want to run along with this shameful process is that there seems no longer to be any meaningful difference in ideology between the two parties.
We now have a one-party system, and it is up to American ingenuity to destroy this evil empire before it destroys us.
Your fury is ignited and is growing. It may be sufficient to turn enough Americans against the elites who brought on this financial crash to elect a third party candidate.
Not much is known about our most viable alternative, Chuck Baldwin, but he does have some surprisingly powerful endorsements, such as Jerome Corsi.
They say he has no government experience.
Neither did George Washington.
Are you angry enough to ditch the Republicans who helped mightily to bring down the American economy and are now poised to socialize the American financial market?
Do you dare to dream?
Another alternative is to vote for McCain and then be prepared to fight him tooth and nail on issues like finance and illegal immigration for the next 4 years. We have not found the new Reagain, but have you ever considered that you, the American people, can be the Reagan you long for? Think about it.
At any rate, you can start by opposing the bailout like you opposed the amnesty bill. If you give it your best shot, that miscreant legislation will fail.
From the Heritage Foundation:
Morning Bell: A Vicious Cycle of Their Own Making
“But Fannie and Freddie pushed back hard, turning to friends on the left for protection. Former Walter Mondale and Barack Obama campaign adviser James Johnson led a fierce lobbying campaign to fight reform of Freddie and Fannie. Clinton administration OMB director Franklin Raines told investors when he was Fannie Mae CEO in 1999: “We manage our political risk with the same intensity that we manage our credit and interest rate risks.” Fannie and Freddie’s lobbying power over the left continues to be strong to this day. According to the Center for Responsive Politics, the top three recipients of campaign donations from Freddie and Fannie’s PACs and employees are all Democrats. From 1989 through today, Sen. Chris Dodd received $165,400, Barack Obama $126,349, and John Kerry $111,000. The Washington Post concludes: ‘Blessed with the advantages of a government agency and a private company at the same time, Fannie Mae and Freddie Mac used their windfall profits to co-opt the politicians who were supposed to control them.'”
Update: Fannie Mae and Freddie Mac Invest in Lawmakers
Published by Lindsay Renick Mayer on September 11, 2008 11:26 AM | Permalink | Comments (22)
When the federal government announced two months ago that it would prop up mortgage buyers Fannie Mae and Freddie Mac, CRP looked at how much money members of Congress had collected since 1989 from the companies. On Sunday the government completely took over the two government-sponsored enterprises, and we’ve returned to our data to bring you the updates, this time providing a list of all 354 lawmakers who have gotten money from Fannie Mae and Freddie Mac (in July we posted the top 25). These totals are based on data released electronically from the FEC on Sept. 2 and include contributions to lawmakers’ leadership PACs and candidate committees from the floundering companies’ PACs and employees. Current members of Congress have received a total of $4.8 million from Fannie Mae and Freddie Mac, with Democrats collecting 57 percent of that. This week we also wrote about how much money lawmakers had invested of their own money in the companies last year–a total of up to $1.7 million.