Posted on 09/19/2008 4:28:26 PM PDT by Libloather
McCain Attacks Obama on Ties to Former Fannie Mae CEOs
Susan Davis reports on the presidential race.
September 19, 2008, 10:26 am
In both a new campaign ad and a speech this morning on the economy, John McCain is attacking Barack Obama for his ties to former Fannie Mae executive Jim Johnson–who headed the company a decade before the current financial crisis.
Johnson, a long-time figure in Democratic Party politics, was part of the team originally tapped to help Obama find a running mate. He stepped down from that role after The Wall Street Journal first reported that he had received favorable loans from Countrywide Financial executive Angelo Mozilo. He was never charged with any wrong-doing but the appearance of impropriety was too much in a campaign season marked by the candidate’s efforts to distance themselves from Washington’s influence business.
**SNIP**
“While Fannie and Freddie were working to keep Congress away from their house of cards, Senator Obama was taking their money,” McCain said, according to prepared remarks. “He got more, in fact, than any other member of Congress, except for the Democratic chairmen of the committee that oversees them. And while Fannie Mae was betraying the public trust, somehow its former CEO had managed to gain my opponent’s trust to the point that Sen. Obama actually put him in charge of his vice presidential search.”
McCain continues: “This CEO, Mr. Johnson, walked off with tens of millions of dollars in salary and bonuses for services rendered to Fannie Mae, even after authorities discovered accounting improprieties that padded his compensation.”
On Thursday, the McCain campaign also sought to link Obama to another former Fannie Mae CEO, Franklin Raines, who also received favorable Countrywide loans and mismanaged the government established housing agency in his tenure.
(Excerpt) Read more at blogs.wsj.com ...
The chickens have.....
Oh you all know the rest! LOL
Especially Raines.
we need an investigation! strip them of thier stolen wealth and jail them all!
Obama, Dodd, Frank, Countrywide, Raines, Mudd, Johnson. Hammer them all! LOOP
Dream on. Only Republicans and conservatives go to jail for breaking the law.
The GOP needs to tie this all together now and show how ACORN was involved with Fannie and freddie...and how Obama is linked to this whole mess.
And dont forget to dredge Rezkco back up
AGREED
They all need the Enron treatment.
Exactly! It is one thing to just name names but voters need to know just how this contributed to the financial meltdown and the economy itself. The ad I envision almost writes itself. Connect the dot GOP and DO IT NOW!!
From Jim Johnsons wiki page: http://en.wikipedia.org/wiki/James_A._Johnson_(businessman)
On May 22, 2008, Democratic Party officials confidentially divulged that Obama had asked Johnson “to lead the process” for selecting Obama’s running mate.[4] On June 4, 2008, Obama announced the formation of a three person committee to vet vice presidential candidates, including Johnson.[5] However, Johnson soon became a source of controversy when it was reported that he had received loans directly from Angelo Mozilo, the CEO of Countrywide Financial, a company implicated in the U.S. subprime mortgage lending crisis.[6] Although he was not accused of any wrongdoing and was initially defended by Obama on the grounds that he was simply an unpaid volunteer, Johnson announced he would step down from the vice-presidential vetting position on June 11, 2008 in order to avoid being a distraction to Obama’s campaign. [7]
What is it with the “finally” in the sub-title? He’s been doing it for at least two days now.
Obama is now calling for calm & bipartisanship...wow
About time. Christ Almighty.
Dear Libloather, it's just not prudent to open up a can of whoopass from a fine, aged wine, until it is time :)
Took long enough.
“The chickens have.....”
Here I’ll add some to it...
COME HOME ..
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