Media Not Reporting Failed Financial Agencies Are Big Donors to Obama

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Media Not Reporting Failed Financial Agencies Are Big Donors to Obama

In a 2005 video Daniel Mudd, at the time the interim CEO of the catastrophically failed mortgage lender Fannie Mae, affirmed his fealty and that of Fannie Mae to the Congressional Black Caucus. The top three campaign donation recipients were Democrats, number two of which was Barack Obama, yet the media is laying mum on these facts. One wonders what would be going on in the media if John McCain were a top recipient of campaign donations from a market crashing, government bail-out getting organization like Fannie Mae? The three top campaign donation recipients from Fannie Mae were all Democrats....

http://newsbusters.org/blogs/warner-...big-donors-oba

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Barney Frank 2003: Fannie and Freddie are not facing any kind of financial crisis


The Bush administration today [in 2003] recommended the most significant regulatory overhaul in the housing finance industry since the savings and loan crisis a decade ago. Under the plan, disclosed at a Congressional hearing today, a new agency would be created within the Treasury Department to assume supervision of Fannie Mae and Freddie Mac, the government-sponsored companies that are the two largest players in the mortgage lending industry. The new agency would have the authority, which now rests with Congress, to set one of the two capital-reserve requirements for the companies. It would exercise authority over any new lines of...

http://query.nytimes.com/gst/fullpag...gewanted=print