Franks, Schumer, Dodd et al… Fannie and Freddie political incest

25Sep08

Events through 2007, involving democratic opinion on Fannie and Freddie regulation is outlined well by Larry Johnson in his posting, “Foxes Guarding the HenHouse? The Actions of Barney Frank, Charles Schummer, and Chris Dodd.”

Here is a summary of the articles…

January 2007 – Franks promises to look at regulating Fannie and Freddie in 2007, Dodd expresses that he is not interested in going after them. This is in the shadow of fraudulent income reports in 2006, and reporst of massive bonuses to executives.

August 2007 – Dodd argues that Fannie and Freddie should allowed to pump even more credit into the market, calling for a 5 percent increase in mortgage limits.

September 2007 – Dodd criticizes increases in Mortgage limits as too modest. Bernanke defends existing limits, warning against the increases.

November 2007 – Schumer and Franks push for a 10 percent increase in portfolio caps, while Freddie Mac signaled that they would voluntarily LIMIT their growth. Freddie did not want to get bigger!

These are now the cronies who tell McCain, “Stay away, we will fix this.” It makes me want to puke.

Barney said for years there was not a problem

A summary chart of contributions from Fannie and Freddie to political campaigns is given at, “All Recipients of Fannie Mae and Freddie Mac Campaign Contributions, 1989-2008”. As has been noted by numerous blogs and commentators, the leading beneficiaries are Dodd, and Obama (even though Obama has only been in federal politics for three years. Schumer is prominent in the list of Franklin Raines (Fannie CEO) donations. Dodd and Frank are listed in donations of Richard Syron (Freddie CEO).

Check these lists…

Frank list in 2000

Dodd list 2004

Need we mention Franks romantic (not kidding) relationship with Herb Moses, executive for Fannie Mae.

This is is upsetting, now they get to negotiate on a fix for this mess they had a hand in.

If you ask me, they should be the one’s who are disinvited to the table, and not McCain.

Read more…

Obama, Barney Frank, Fannie Mae, Freddie Mac, Campaign contributions, Democrats, Lobbyists, Truth about Obama, More Obama lies, McCain reformer

Media Mum on Barney Frank’s Fannie Mae Love Connection

Barney Frank opposed regulating Fannie Mae and Freddie Mac in 2003, but no one reminds him

Barney Frank: White House ‘Photo Op’ Designed to Help McCain

Media Mum on Barney Frank’s Fannie Mae Love Connection

Barney Frank Discovers Regulation!!!!

Which Candidate Do Fannie Mae and Freddie Mac Donate Most To?

The Democrats’ Cozy Relationship with Fannie Mae

Democrat Senator Chuck Schumer’s Role In America’s Financial Crisis–Updated

Schumer and Reed Warn Against Fannie/Freddie Severance Pay

Fannie Mae and Freddie Mac Bailout Debacle

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One Response to “Franks, Schumer, Dodd et al… Fannie and Freddie political incest”


  1. 1 Bail out bill agreement reached - Yipee! My tax money is going to work! « The Sadim Touch

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