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Posted: Fri 20:30, 25 Apr 2014 Post subject: Democrats and Freddie Mac Joined at Hip |
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Democrats and Freddie Mac Joined at Hip
When President George W. Bush nominated Henry Paulson to serve as Treasury Secretary, Republicans elevated a red flag that Paulson, who, coupled with his spouse, has solid ties for the Democrat party, wouldn't be an sincere broker with Republicans.
That seems to have already been borne out, with sources inside of Treasury reporting that Paulson briefed Sen. Barack Obama and his campaign advisers about the Fannie Mae and Freddie Mac bailout program before presenting this kind of briefing for the McCain campaign.
Actually, the McCain marketing campaign had sought a similar briefing numerous times back as phrase distribute that a bailout program was being unveiled and were turned down by Paulson's senior staff members.
Another question is: Why was the Obama campaign so eager on acquiring advanced term with regards to the bailout?
"They use a enormous issue with the home loan and housing sector tale, and everybody is lacking it," suggests a Republican political media advisor with ties for the Obama marketing campaign due to the bipartisan nature of the organization he does operate with.
"You seem at Obama's financial advisers, the guys he has counted on from working day a single and which have raised him a ton and that i imply a ton of cash: Franklin Raines and Jim Johnson, both of them are midsection to neck deep from the home loan debacle."
Both Raines and Johnson have served as CEO of Fannie Mae, with Raines using more than from Johnson. Both are critical political and financial advisers to Obama.
"How can Obama head out with a straight deal with and observed it absolutely was Republicans who designed this mess, when it is actually his crucial advisers who ran the organizations that designed the large mess what it truly is?" suggests a Democrat Household member who supported Sen. Hillary Rodham Clinton. "It's his individuals that are responsible for what may well be the only biggest government bailout in historical past. And every solitary considered one of them built hundreds of thousands off the collapse which have been lining Obama's campaign coffers. If the McCain marketing campaign allows this 1 go, they should eliminate."
It isn't just Fannie Mae in which Obama has a dilemma. Yet another close political adviser, in truth the 1 gentleman liable for rallying support for Obama early on among Congressional Democrats, is Rep. Rahm Emanuel, who served over the Board of Administrators for Freddie Mac after leaving the Clinton White Household. In keeping with Freddie Mac insiders, Emanuel through his time on the board opposed every reform proposed via the Bush Administration that might have impacted Freddie and Fannie Mae.
Emanuel claimed to generally be neutral during the key race amongst the spouse of his previous manager and his longtime Chicago acquaintance, Obama. Though the chairman on the Property Democratic Caucus, who would be to start with in line for the vacated Senate seat of Obama really should he win the presidency, speedily dumped Clinton when it absolutely was crystal clear Obama had a head of steam for your nomination.
"We should be able to rightly dangle the Fannie and Freddie scandal all-around the neck of Obama, whenever they could get out in entrance," says a Property Republican. "Middleclass folks' home loans are likely protected, though the American taxpayer will also be purchasing this scandal for years to come."
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