In 2005– Senator John McCain partnered with three other Senate Republicans to reform the government’s involvement in lending, after an attempt by the Bush administration died in Congress two years earlier.
Democrats blocked the reform.
In 2005– Barack Obama and the Congressional Black Caucus met with Fannie Mae for a “family” event. In 2005 Democrats also blocked reform of Fannie Mae:
This was before Fannie Mae started filling the pockets of Barack Obama with political donations.
The junior Illinois senator collected more money from Fannie Mae than any other Washington politician except Senator Dodd in the last decade.
Obama was able to accomplish this feat in just 3 years.
This video shows Fannie Mae CEO talking to “family” members of the Congressional Black Caucus in 2005.
The Democrats have been taking PAYOFFS from Fannie and Freddie and have looked the other way FOR DECADES!
They’ve blocked reform several times.
Now this NEW VIDEO of the CEO of Fannie Mae in 2005 shows him explaining the “FAMILY” connection with Democrats and specifically Barack Obama and the Congressional Black Caucus. It looks like Michelle Obama was at the event, too.
This was before Barack Obama started collecting tens of thousands from the failed lender.
Doug Ross explains the root cause behind the current mortgage crisis.
UPDATE: McCain slammed Obama for his avoidance of this crisis Thursday at a town hall meeting:
“Senator Obama talks a tough game on the financial markets but the facts tell a different story. He took more money from Fannie and Freddie than any Senator but the Democratic chairman of the committee that regulates them. He put Fannie Mae’s CEO who helped create this disaster in charge of finding his Vice President. Fannie’s former General Counsel is a senior advisor to his campaign. Whose side do you think he is on? When I pushed legislation to reform Fannie Mae and Freddie Mac, Senator Obama was silent. He didn’t lift a hand to avert this crisis.”
Well said, Senator McCain.
