Republicans are doing it again. Trying to tie Barack Obama to a disgraced black man, Franklin Delano Raines, the former CEO of Fannie Mae who was fined millions, but still got off extremely light. While the Fannie Mae CEO, Raines cooked the books to reap huge bonuses for himself and friends. [click this link for more about Mr. Raines]
Then as his accounting fraud was being investigated, Raines resigned, took his bonuses, and ran. When Raines was sued for the fraud in civil court, he signed a consent agreement that only recouped a tiny fraction of his ill-gotten gain.
Who says crime doesn’t pay?
What is the Obama connection? The Washington Post reported that Obama’s campaign sought Raines’ guidance and advice on “mortgage and housing policy matters.” A Washington Post editorial followed that wrote: "Two members of Mr. Obama's political circle, James A. Johnson and Franklin D. Raines, are former chief executives of Fannie Mae." [click here for more information about the allegations]
The Post did not report, but could have and should have, that the leading recipients of Fannie Mae and Freddie Mac lobbying contributions are Chris Dodd, Democrat, followed by Barack Obama, Democrat. It is easily understood why Dodd receives Fannie Mae and Freddie Mac lobbying largesse; Dodd is Chairman of the Senate Banking Committee.
But why Obama? He has very little Senate experience, and no significant legislative accomplishments. Why is Obama a pet of the scandal-prone Fannie Mae and Freddie Mac cartel?
Which are now wards of the government, thanks to their monumental mismanagement.
Mismanagement aided immeasurably by Democrat politicians like Barney Frank and Charles Schumer, who with the rabid support of the Congressional Black Caucus blocked repeated attempts by Republicans, including President Bush and Senator McCain, to tighten the regulation of Fannie Mae and Freddie Mac.
Interestingly, the Democrat grounds for blocking tighter regulation were their old, familiar, tired cry that Republicans were trying to rein in Fannie Mae and Freddie Mac because Republicans, in their racism, didn’t want poor people to get cheap loans.
Now they have turned 180 degrees and trumpet that it was the Republicans that blocked tighter regulation. With all the evidence available of Democrats speaking their own words against tighter regulation, you would think Democrats would be laughing stocks.
If that’s what you think, you don’t understand the ability of the main stream media to spin and hide information, and the inability of the American public to get past their media manipulation.
As I mentioned earlier, “Who says crime doesn’t pay?”