Barack Obama 2nd On List Of 345 Fannie Mae and Freddie Mac Recipients

In the aftermath of the financial scandal that is toppling financial institution after institution, the Center for Responsive Politics did a little snooping into which politicians were taking how much money from Fannie Mae and Freddie Mac.  The activities of these two quasi-government quasi private financial hybrids were at the very center of the disaster that has caught up so many institutions that dealt with mortgages.

Barack Obama – the current Democratic nominee for President – was 2nd out of 345 lawmakers on the list.  And John Kerry – the 2004 Democratic nominee for President – was 3rd.  Sen. Chris Dodd – the Democratic chairman of the Senate Banking Committee who accepted a sweetheart loan from scandal-ridden Countrywide – was top on the list.

The problem with Fannie Mae and Freddie Mac has always been that it was a social welfare institution masquerading as a financial institution.  That’s why these “financial institutions” have been so rabidly pro-socialist Democrat Party.

To put it in Olympian terms, Democrats swept the medals, winning gold, silver, and bronze for the biggest pigs feeding from the scandal-ridden Fannie Mae and Freddie Mac trough.

Update: Fannie Mae and Freddie Mac Invest in Lawmakers

When the federal government announced two months ago that it would prop up mortgage buyers Fannie Mae and Freddie Mac, CRP looked at how much money members of Congress had collected since 1989 from the companies. On Sunday the government completely took over the two government-sponsored enterprises, and we’ve returned to our data to bring you the updates, this time providing a list of all 354 lawmakers who have gotten money from Fannie Mae and Freddie Mac (in July we posted the top 25). These totals are based on data released electronically from the FEC on Sept. 2 and include contributions to lawmakers’ leadership PACs and candidate committees from the floundering companies’ PACs and employees. Current members of Congress have received a total of $4.8 million from Fannie Mae and Freddie Mac, with Democrats collecting 57 percent of that. This week we also wrote about how much money lawmakers had invested of their own money in the companies last year–a total of up to $1.7 million.

All Recipients of Fannie Mae and Freddie Mac Campaign Contributions, 1989-2008

Name Office State Party Grand Total Total from
PACs
Total from
Individuals
Dodd, Christopher J S CT D $165,400 $48,500 $116,900
Obama, Barack S IL D $126,349 $6,000 $120,349
Kerry, John S MA D $111,000 $2,000 $109,000

And realize something: this list runs from 1989-2008.  Barack Obama has only been in national politics since 2005; do you have any idea what a trough-guzzling porker he had to be to pass by so many politicians who’ve been in politics throughout the entire 20 year period?

Democrats are all over this housing scandal mess.  But they have one talent (the ability to demonize their opponents) and one asset (a complicit liberal media).  John McCain proposed legislation that would have reformed Fannie and Freddie back in 2005 – but lockstep Democratic opposition killed it.  Now the system is broken, and the guy who took the 2nd most money from the scoundels who caused this mess is trying to blame the guy who tried to fix the problem before it became a disaster.

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4 Responses to “Barack Obama 2nd On List Of 345 Fannie Mae and Freddie Mac Recipients”

  1. Charles Hill Says:

    Democrats blocked Bush’s Fannie Mae and Freddie Mac Reforms.
    ”These two entities -Fannie Mae and Freddie Mac – are not facing any kind of financial crisis,” said Representative Barney Frank of Massachusetts, the ranking Democrat on the
    Financial Services Committee.
    http://strategicthought-charles77.blogspot.com/2008/09/democrats-blocked-bushs-fannie-mae-and.html

  2. Michael Eden Says:

    Charles,
    Thank you for that link. It’s just what I’m about – getting the truth out about these people. Barney Frank and Melvin Watts led the fight AGAINST the reform of Fannie and Freddie when it could have done some good. Watts used racism to vilify the Republicans, claiming they were trying to keep poor black people from getting loans. What they were trying to do is keep a corrupt system (Franklin Raines – the Clinton appointee over Fannie who made $90 million dollars; Jamie Gorelick, who walked away with nearly a million in spite of a huge scandal – are now BOTH part of Obama’s team) from falling apart. Which is just what it has done.

  3. That’s a lot of Pork in anybody’s book! Says:

    And the Messiah, the Agent of Change says he will bring about Change. How? Is he going to change it such that he will benefit a little more a little faster? The way he spends money tells me he is not shy if it is not his own.

  4. Michael Eden Says:

    People think that just because Bush is President, and just because the Republicans had a slim control for the first six years of Bush, that this mess is all Republicans’ fault. That is a frankly idiotic view that ignores the facts.

    Democrats are all over this one. And the situations that fed into this disaster started in the early 90s under Clinton, when Democrats were in control.

    Republicans – and Bush himself – tried twice to reform the housing financial market – and twice failed due to stiff Democratic opposition. Barney Frank led that opposition, arguing that Fannie and Freddie were fine. And guys like Melvin Watt said that the Republicans efforts to reform were just a racist attempt to keep poor blacks from getting home loans.

    Republicans bear a share of the blame. Guys like Phil Graham. But if ONE party should be singled out, it should be Democrats. And Obama took more money than ANY Democratic politician from the people who created this mess.

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