The collapse of government backed mortgage giants Fannie Mae and Freddie Mac caused the financial crisis now gripping the American economy.
Who is to Blame?
How did it happen?
Follow the money.Senator Chris Dodd (D-CT), Chairman of the Senate Committee overseeing Fannie and Freddie received $165,400 in contributions from individuals and PACS for both mortgage giants since 1989.
That’s over $8,000 per year.
But Obama’s cash card is much better:
Since taking office in January 2005 he has amassed over $126,000. Thats roughly $32,000 PER YEAR!Also along for the ride:
Kerry, John $111,000
Reid, Harry $77,000
Clinton, Hillary $76,050
Pelosi, Nancy $56,250
Frank, Barney $42,350
Durbin, Dick $23,750
Schumer, Charles D $24,250Is it any wonder that the 2005 reforms Senator McCain championed never passed?
If Congress does not act, American taxpayers will continue to be exposed to the enormous risk that Fannie Mae and Freddie Mac pose to the housing market, the overall financial system, and the economy as a whole. ~ John McCain, May 26, 2005
