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Name:
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want2beonlake
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Subject:
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McCain, Freddie and Fannie
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Date:
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9/22/2008 12:22:14 PM
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Sorry, not entirely true about officials at Freddie and Fannie giving money to Obama.
The source for this data is the nonpartisan Center for Responsive Politics, which has compiled a list of which political leaders received the most money from employees of Fannie Mae and Freddie Mac. Obama's campaign cites this source to back up its claim that John McCain has received more than $2-million from big oil.
On the Freddie and Fannie question it as McCain said: Obama is No. 2 on the list, with $126,349, right after Sen. Chris Dodd, D-Conn., chairman of the Senate Banking Committee, who had $165,400.
But the list requires a few notes of explanation.
Corporations cannot give to candidates so the center's list adds up contributions from Fannie and Freddie employees and their families. Obama has received a lot of money during his presidential campaign, though, and Fannie and Freddie don't make his list of top 20 companies. (The top three companies with employees donating to Obama are Goldman Sachs, University of California, and Citigroup, according to the center.)
The New York Times looked at contributions from Fannie and Freddie's boards of directors and lobbyists, who are technically not employees. That analysis found Fannie and Freddie-related contributors gave $116,000 to John McCain and his related committees, compared with $16,000 to Obama and his related committees.
Nevertheless, the center's information does reflect which candidates are getting the most money from Fannie and Freddie employees. There are other ways to parse the campaign finance numbers, but McCain is correct when he says Obama got the second-most money on a list compiled by a respected, nonpartisan campaign finance watchdog. He would have been more accurate if he would have noted that he was talking about Fannie and Freddie employees.
Are none of you concerned that McCain got 2 million for big oil?
Are none of you concerned that McCain got 7 times as much money from Freddie and Fannie lobbyist and board of directors than Obama?
McCain agreed in 2006 to sign on with the Republican-led regulatory overhaul after he read the report that took 27 months to complete. Where was he prior to that if he thought there was an issue?
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