A bit of inconvenient truth for the Obama campaign:
More here. What’s particularly disturbing is how the same cast of characters keep popping up in these banking scandals. Franklin Raines was at Fannie Mae as CEO before he was forced out over an accounting scandal that inflated his personal bonuses to the tune of millions. Franklin Raines also got a discount, VIP, “friends of Angelo” mortgage from Countrywide CEO Angelo Mozilo. Raines is now advising the Obama campaign on housing policy.
Jim Johnson, an adviser to Obama on housing issues and a member of The One’s VP search team, also worked for Fannie Mae as CEO. He was also the managing director for Lehman Brothers (which also went under this week) and received “friends of Angelo” mortgages from Angelo Mozilo.
Senator Chris Dodd, one of the first Congressional Democrats to give Barack Obama his endorsement, received more in contributions from Fannie Mae/Freddie Mac than any other politician in the country. He also took tens of thousands of dollars in mortgage discounts from Countrywide CEO Angelo Mozilo, and helped move massive mortgage bailouts through the Senate.
Senator Kent Conrad, who rounds out the top 15 politicians who took money from Fannie Mae/Freddie Mac, has also been an adamant Obama backer and also took “friends of Angelo” loans from Angelo Mozilo and Countrywide. Conrad, as Chairman of the Senate Budget Committee, took special action to help move mortgage bailouts through Congress worth hundreds of billions of dollars.
And who received more money from Fannie Mae than any other politician in the nation except for Senator Chris Dodd? Barack Obama. Who received roughly four times more money than any other politician in the nation during the four years he was in the US Senate? Barack Obama. Who has close personal relationships with Franklin Raines and Jim Johnson? Who invited them to work for his campaign and advise him?
And who, while working as state legislator in Illinois, helped create and sponsor government programs that put tens of millions of dollars in the pocket of convicted slum lord Tony Rezko for building homes that are today falling apart?
Obama tells us he’s the “hope” candidate. The “change” candidate. The “new politics” candidate. Yet from the people he associates with, the people he chooses to help him make important decisions, you’d think he was a shady Washington insider who has spent decades in Washington and not a scant four years.