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 Message Boards » » Fact Check: Did Obama profit from Fannie/Freddie? Page [1]  
spaced guy
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interesting tidbit i found...

http://politicalticker.blogs.cnn.com/2008/09/19/fact-check-did-obama-profit-from-fannie-and-freddie/

Quote :
"Statement:
Amid "corruption at Fannie Mae and Freddie Mac," Sen. Barack Obama "profited from this system of abuse and scandal. While Fannie and Freddie were working to keep Congress away from their house of cards, Senator Obama was taking their money. He got more, in fact, than any other member of Congress, except for the Democratic chairman of the committee that oversees them." —Sen. John McCain, at a campaign stop Friday, September 19, in Green Bay, Wisconsin.

What are the facts? Find out after the jump.


The Facts
Federal law forbids candidates from receiving money directly from companies. The nonpartisan Center for Responsive Politics tracks donations from employees of various companies. The center's list of contributions from Fannie and Freddie employees places Obama second. Ahead of him is Sen. Chris Dodd,

Democratic chairman of the Senate Banking Committee.

The total listed for Obama is $126,349 — a tiny fraction of the approximately $390 million his campaign has raised, according to the Center for Responsive Politics. The list shows McCain has received a total of $21,550 from Fannie and Freddie employees. The list includes donations of at least $200 from those who receive paychecks from Fannie and Freddie. It also includes donations from political action committees — pooled contributions from employees. Obama decided early in his presidential run not to accept PAC contributions, but the Center for Responsive Politics' list includes all contributions for members of Congress dating back to 1989 — including Obama and McCain's Senate campaigns.

The New York Times has published a separate list looking at contributions from "directors, officers, and lobbyists for Fannie Mae and Freddie Mac" for the 2008 campaign cycle. That list — using figures from the Federal Election Commission — shows McCain receiving $169,000, while Obama received only $16,000.

Explaining the difference, the Center for Responsive Politics said on its Web site that it does not include members of the board of directors because they could serve on boards of various companies. Their contributions are listed along with other employees of the companies they work for. And the center says lobbyists usually represent multiple clients as well, so their contributions are listed under their lobbying firms — except in-house lobbyists, who are included in the center's list.

The mortgage giants Fannie and Freddie became symbols of the nation's economic mess — and, to critics, of corporate greed — after the government recently took them over to bail them out, making donations linked to the company in any way potential political fodder.

VERDICT
Partially true, but misleading. Donations don't come from companies. A list of employee contributions puts Obama second, but a different list including lobbyists and directors shows McCain getting more."


it's really overwhelming when you realize that there's probably an explanation just as complicated as this for every other sentence in a candidates' stump speech. it takes a lot of work to really be an educated voter...

9/19/2008 8:36:27 PM

csharp_live
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obama's still pledging to give 50 billion to "world poverty"

that's 166.666667 dollars from each and every man woman child and infant in this entire nation.

1. will it end world hunger altogether, no, probably not
2. is it a nice gesture yes
3. will it turn more countries to ally with the US. probably no. and i really don't care if they do or don't




i'll be the first to let you know, 50 billion dollars could build FIVE HUNDRED deep oil wells on the coastal areas of our country and save our country untold trillions of dollars in the long run while keeping said trillions in the pockets of our fellow countrymen


obama doesn't care about those figures. he doesn't care that he could SAVE the average household hundreds and thousands of dollars in fuel/ heating/ electricity savings by spending that same money on investments at home


but alas. no. rather. as a result, more people at than abroad will probably continue to suffer starvation within our own borders and not one person will ultimately be redeemed through some education instead of a hollow and short handout that will fade before their eyes.

9/19/2008 9:23:58 PM

agentlion
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hey, great response! you managed to completely derail the thread with a completely irrelevant post within minutes. gg!

9/19/2008 9:26:35 PM

moron
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^ Has McCain proposed spending 50,000,000,000 to build socialized oil wells?

9/19/2008 9:27:15 PM

wethebest
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we don't need to increase our dependency on the fuel of the 20th century.

9/19/2008 9:30:25 PM

csharp_live
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obama does not want to be president

obama is out to collect money. our money. and a lot of our nations money.

and do a lot of nothing with it

9/19/2008 9:32:09 PM

carzak
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^Again, why is this cretin still allowed here? All he does is shit all over threads.

9/19/2008 11:28:02 PM

AxlBonBach
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well to be fair, shit on top of shit doesn't make it smell all that different than it already does

9/20/2008 12:16:40 PM

Airbag
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we don't need to increase our dependency on the fuel of the 20th century.

9/20/2008 4:41:15 PM

csharp_live
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^oh man, you got me, you must be driving the same type of car most of obamas followers drive too.

how does it feel to be leading the way driving your cheap electric car? did obama help pay for it with his fannie mae money he stockpiled??

9/20/2008 8:12:19 PM

Dentaldamn
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GIT YR GUN CLEDUS!!!!!!!!!!!!

9/20/2008 9:11:59 PM

 Message Boards » The Soap Box » Fact Check: Did Obama profit from Fannie/Freddie? Page [1]  
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