Dems stand with Freddy and Fannie during housing scandel


It appears there is not a shady deal Obama’s party does not like. They seem to have their fingers in everything that is bad for America, and by inference good for themselves. I guess lining one’s own pocket is the goal of government office holders and leading the pack is the Pelosi, Schumer white house.

Obama is not stain free in this one either for apparently he was cozy with ACORN in Chicago. I do not know if it is just me but does it seem like all of Obama’s major associations are implicated in some sort of nefarious activity?

So much for change. Seems like business as usual to this old bird.

clipped from www.sphere.com
the Office of Federal Housing Enterprise Oversight (Ofheo) issued a report finding that the government-sponsored entity Fannie Mae had engaged in Enron-like accounting machinations that allowed Fannie to overstate its earnings and underestimate the risk the company faced
When Frannie’s accounting scandal came to light in 2004, conservatives pushed hard for reforms to phase out Fannie and Freddie. Led by former Walter Monadale and Barack Obama campaign adviser James Johnson, Fannie and Freddie pushed back hard,
Fannie also bought off activist groups such as the corrupt Association of Community Organizations for Reform Now (ACORN), which has been indicted multiple times across the country for vote fraud (Obama worked closely with ACORN as a street organizer in Chicago). Fannie’s lobbying efforts paid off as liberal politicians such as Sen. Chuck Schumer (D-N.Y.) and Rep. William Clay (D-Mo.) worked to kill any real reform of Freddie and Fannie.

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