Skip to comments.Obama’s Fannie Mae Freddie Mac Connection-(Sept 21, 2008)
Posted on 02/11/2009 6:42:16 PM PST by SERKIT
Lehman Brothers collapse is traced back to Fannie Mae and Freddie Mac, the two big mortgage banks that got a federal bailout a few weeks ago. Freddie and Fannie used huge lobbying budgets and political contributions to keep regulators off their backs. A group called the Center for Responsive Politics keeps track of which politicians get Fannie and Freddie political contributions. The top three U.S. senators getting big Fannie and Freddie political bucks were Democrats and No. 2 is Sen. Barack Obama(foxnews.com).
Obama has these connections with Fannie Mae and Freddie Mac. Jim Johnson and former Fannie Mae chairman and CEO Franklin Raines are part of Obamas advisors. Franklin Raines stepped down after a $6.3 billion accounting scandal, which Obamas calls on for advice on mortgage and housing policy matters. Jim Johnson was on Obamas VP search and made millions from his Fannie Mae CEO job.
Obama hired these people who were a big part of the team that brought down Fannie Mae to be on his campaign. How come Obama has not fired these people yet? How can we trust Obama to help our economy when he hangs around people that would bring America and our economy down?
Obama watched his buddies get multi-million-dollar gigs at failed or failing government-linked lending organizations, but now he criticizes bank leaders for showing some largess. I guess the difference is who stuffs Barry's warchest.
Wasn't Jamie "Fire Wall" Gorelick raking in big bucks in a similar manner? Hello!!!????? Are you tone deaf, Barry?
Zero made all His money during the Bush years
It's their fault in large measure and I believe they did it with a will and are now proceeding with their socio-marxist ideology to bring the "fundamental change" to America that they have sought for decades.
We need an ‘AUDIT OF THE AUDACITY OF THE CRIMES’ of OBAMA and The DEMOCRATS!
The ‘hypocrisy’ can be left to sort out in the history books.
We need to demand an independant investigation! Not that it would be independent..but we sure as hell can try! The republicans should start demanding it now...while the democrats are trying to ‘investigate’ President Bush for protecting this country for 8 years!
I think that is the gauntlet Rush threw down today....wait until Republican’s are back in power.....you will rue the day....
Look what happened to the auto people today. Holding up their hands like school children.
I am embarrased for them.
We need to start demanding it now though!
The democrats did not wait until Bush and the republicans were out of office to ‘demand investigations’.
The democrats and the media hounded Bush his entire 8 years..and for NOTHING!!
We actually have some compelling evidence of democrat blame complicity and crimes in the biggest financial meltdown in the history of this country(the world) for political purposes and possibly worse!
Are we suppose to sit back and wait to scream from the rooftops until after Obama leaves office and the republicans are back in control?
I don’t think so!
The following article from July '08 is so important, I'm posting it here before it is dug out and removed from the Internet, to prevent the American people from connecting the dots. But watch sites like http://www.spectator.co.uk/melaniephillips/, for updates to the unraveling facts which prove the Democrat party is responsible for this evil sweeping the globe. The Democrat party will use anything to empower their political capital, and care not a whit that their manipulations cause so much mayhem and destruction to capital, jobs, families, and communities.
How Chuck Schumer Caused the 2d Largest Bank Failure in U.S. History (Important Read) CNBC ^ | July 12, 2008 | Jerry Bowyer
Federal officials arent supposed to cause bank runs. In fact, much of the New Deal bank regulatory apparatus was set up for the purpose of eliminating such panics. When FDR was hit with a massive set of bank runs shortly after taking office, he gave an address in order to calm terrified depositors, assuring them that the banks would reopen shortly, and that everything would be fine. But Chuck Schumer is no FDR. He doesnt stop bank runs; he starts them. Or, at least, has started one. The collapse of Indymac bank, the second largest bank failure in American history, began with a letter from the office of Senator Charles Schumer on June 27. He questioned the viability of the bank. When a senior senator who is in a number of influential posts regarding oversight of bank regulators directly attacks the confidence of a depository institution, it matters. Not surprisingly, the director of the Office of Thrift Supervision concluded that the collapse of the bank immediately following the Senators comments has not a coincidence. Director Reich concluded that Senator Schumer had given the bank a heart attack.
Why? Why would a federal official with enormous power, destroy an institution on which tens of thousands of depositors (not all of whom are insured) and employees depend? Why would a New York Senator attack a Pasadena bank, acting as some sort of amateur, self-appointed, long-distance bank examiner?
Perhaps this might help answer the question: Indymac has been under attack from the hard left. The Center for Responsible Lending issued an attack on Indymac within a few days of Schumers letter.
CRL is part of a small army of left of center research groups, community organizers, and public interest law firms who make their living accusing home lenders of racial redlining and predatory lending. On June 20th the Center accused Indymac of unfair practices regarding minority borrowers. [CRL is a left-wing group that refuses to disclose its donors, but somehow has raised enough money to open very expensive offices in Washington and Sacramento. They are the Democrats' favorite witness at hearings on mortgage lending. CRL is in some ways responsible for the subprime mess, because in December 2006 it released a completely bogus report that projected 2 million foreclosures would occur. That number is taken as gospel now, but it has not materialized. This is a group of lying leftists that is trying to break the U.S. mortgage industry, and appears to be succeeding, with the help of Chuck Schumer. Some people think that one or more large U.S. or foreign banks is actually bankrolling CRL.]
A suspicious person might think that a network of lefty attack groups proficient in bank bashing and frequently funded by trial lawyers and short-sellers, coordinated their activities with a law firm on the hunt and a Senator who works closely with the network.
On the other hand, maybe it is a coincidence that CRL and Sen. Schumer attacked the same bank in the same week. Maybe he didnt know about the CRL report, nor CRL about his letter. Maybe the community group didnt know about the trial-lawyer class action lawsuit which was launched against Indy a couple of weeks before all of this started.
YEAH...we had $200,000 in an IndyMac CD at that time...had JUST parked the money there from a house sale.....A**H*le Schumer.....luckily we got our funds back....and, folks, remember....that $250,000 they raised the FDIC insurance to? It’s only good till the end of THIS YEAR....then it reverts back to $100,000!!!! Plan accordingly.
Good stuff there.
It was interesting to watch the senatorial looters yesterday grilling the fed(Bernanke). They were demanding to know which banks they ‘lent’ money to during the first bailout(even though there is a law forbidding the fed to do so even before the bailout) and for good reason. All fed loans are designed to be short term and temporary and disclosure of that information can cause systemic meltdowns in the system, etc.
That did not stop the democrats from putting on a dog and pony show designed to fool the sheeple though.
There may be more to it.
Bear with me here.
I just found some information today. Don’t know if any of it is true, yet.
Does anyone know if there is a Henry and Ruth Walter associated with Fannie Mae or Freddie Mac.
The lawyer on Certifigate asked people to dig up research on Barakat Osama.
One poster says
“In September of 2006, Kelly J. McCrum sold 1525 S Sangamon St. Unit 707, Chicago IL to a person named Osama Barakat.
Kelly J. McCrum is the wife of Craig M. Robinson. Craig Robinson is Michelle Obama’s brother.”
Further on this site:
“MEDICAL DOCTOR IN CHARGE OF THIS BARAKAT NON PROFIT ORGANIZATION ...THE BARAKAT NON PROFIT THAT IS ASSOCIATED WITH
Khalid Alireza, who is the liasion to Saleh al-Din Abdel Jawad who is
associated with THE GOLDEN CHAIN”