Obama, McCain, Fannie Mae, Freddie Mac, Mortgage crisis, Banking, Reform, Lobbyists, Campaign contributions, Obama lies, McCain reformer, Federal Housing Enterprise Regulatory Reform Act of 2005

Who is telling the truth, McCain or Obama?

Who is a reformer, McCain or Obama?

Consider this first from a recent Citizen Wells article:

Barack Obama has claimed to be the candidate of change who steers
clear of lobbyists. Once again Obama is lying. One lobbyist
Obama has ties to
is Joe Biden’s son, Hunter Biden. Now we learn
that Obama was the third highest recipient of campaign contributions
from Fannie Mae and Freddie Mac that have just been bailed out
by the government. Here are the top recipients of campaign contributions from Fannie Mae and Freddie Mac, 1989-2008:

1. Dodd, Christopher J
2. Kerry, John
3. Obama, Barack

I spoke to Zach of the Zach Jones is Home blog yesterday. He has a new article about the reform John McCain attempted on Fannie Mae and Freddy Mac in 2005. Zach stated that if the reform had succeeded, we would not be in the mess we are today. Here are some exerpts:

“Obama playing dirty politics – John McCain got it right on Fannie Mae and Freddy Mac in 2005, Media is still AWOL
It appears that Sen. Obama and the Media are once again being fast and loose with the “facts”.  John McCain got the current financial crisis right in 2005. John McCain was a co-sponsor on Federal Housing Enterprise Regulatory Reform Act of 2005.  We would not be having this current crisis if Sen. McCain had his way in 2005.  Unfortunately, this measure was blocked. It is disgusting that Sen. Obama is only interested in smearing anyone who is in his way.  And why is the media not reporting this?  The media continues to be completely in the tank for Obama.”
“This is from GovTrack.US:

Record Text

Sen. John McCain [R-AZ]: Mr. President, this week Fannie Mae’s regulator reported that the company’s quarterly reports of profit growth over the past few years were “illusions deliberately and systematically created” by the company’s senior management, which resulted in a $10.6 billion accounting scandal.”

“The OFHEO report also states that Fannie Mae used its political power to lobby Congress in an effort to interfere with the regulator’s examination of the company’s accounting problems. This report comes some weeks after Freddie Mac paid a record $3.8 million fine in a settlement with the Federal Election Commission and restated lobbying disclosure reports from 2004 to 2005. These are entities that have demonstrated over and over again that they are deeply in need of reform.”

” I join as a cosponsor of the Federal Housing Enterprise Regulatory Reform Act of 2005, S. 190, to underscore my support for quick passage of GSE regulatory reform legislation. If Congress does not act, American taxpayers will continue to be exposed to the enormous risk that Fannie Mae and Freddie Mac pose to the housing market, the overall financial system, and the economy as a whole.

I urge my colleagues to support swift action on this GSE reform legislation.”

Read more of this important article here:


Share this information with those around you. They will not get the truth from the MSM.

If you are fed up with the lies and corruption of Obama, visit:



7 responses to “Obama, McCain, Fannie Mae, Freddie Mac, Mortgage crisis, Banking, Reform, Lobbyists, Campaign contributions, Obama lies, McCain reformer, Federal Housing Enterprise Regulatory Reform Act of 2005

  1. Please clarify: were the contributions from Fannie and Freddie themselves, or from some of their many thousands of employees? What portion of Obama’s total funding in this period came from those funders?
    Also, keep in mind that the McCain camp has its own old ties to Fannie & Freddie:

  2. BTW, if this is a 10 year list and Obama has only been a Senator for 3 years, he is working overtime on getting campaign contributions from them. Unless the tally includes contributions to his State Senator campaign too.

  3. John McCain’s legislation he supported was phony. Consider that in 2005 Republican’s controlled the Senate and Congress. His bill never made it out alive because Republicans defeated it. And the reason….it fixed nothing. It created an “independent” oversight. This is another word for cronyism. Perpetuated the same system. Democrats favored a bill which scrutinized the system a great deal more, but it never even took a breath. While we are looking at campaign contributions, we might want to scrutinize McCain’s connection to Lehman Bros, and Merrill Lynch.

  4. McCain issued a clear warning that proved to be right. Barney Frank said there was no problem. There was no problem for him because he and the Dems, like Obama, received hefty campaign contributions.

  5. Democrats created the Fannie Mae and Freddie Mac problems years ago. They stopped ALL eforts at reform until it was too late. Now they are trying to blame Bush, McCain and Republicans, everyone but themselves. That’s the Gods truth and here is the proof:

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