Skip to comments.Update: Fannie Mae and Freddie Mac Invest in Lawmakers
Posted on 09/28/2008 2:44:52 PM PDT by Califreak
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.
(Excerpt) Read more at opensecrets.org ...
The list of donees is available at the link.
If we eliminated the tax code, the only reason for lobbysists to exist, and adopt the Fair Tax, we would end the corruption cycle in congress. We wouldn’t even need term limits because there wouldn’t be opportunities for congress to line their pockets and they’d go home after one term of what might actually be public service as our founders envisioned.
Jeez. Roy Blunt is #6 on the Fannie/Freddie donor list. I guess that explains his support for the DemocRATS’ “Wall Street Golden Parachute Act of 2008.”
I thought it was interesting that many of the people who strongly support this bailout have received hefty donations from Fannie & Freddie.
The whole reason Open Secrets has done this is because we are using the numbers for the last 18 years with devestating results for the dems all over the net. This new ‘improved’ version is very misleading. It doesn’t say when these people even got these donations. I would like to see who got the most money while it was being run into the ground by Harold Raines!!
Open Secrets is run by democrats!...so beware.
According to the link, donations were received between 1989 & 2008.
I wasn’t aware that this was a dem site.
Still, the names at the top are interesting.
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