We said earlier the “talking point of the week” for Obama surrogates was to paint anyone who disagrees with “The One” as racist. Apparently Time Magazine is part of the fold, and their “lead political reporter” is now on the attack over McCain’s ad linking Franklin Raines of Fannie Mae to Barack Obama.
FACT: Fannie Mae & Freddie Mac contributed over $126,000 to Barack Obama, making him second only behind Democrat Christopher Dodd, chairman of the Senate Banking Committee (who is supposed to oversee Fannie, Freddie and the mortgage market).
FACT: Franklin Raines, appointed by Bill Clinton, was CEO of Fannie Mae from January 1999 to December 2004.
FACT: Franklin Raines earned tens of millions of dollars during his time running Fannie Mae, yet investigators cited Raines and other officials in fraud and accounting problems.
FACT: Franklin Raines was ousted from Fannie Mae at the end of 2004 after accounting problems and other management issues forced the company to restate earnings by 9 BILLION DOLLARS.
FACT: Franklin Raines was sued for his role in the Fannie Mae scandal and in a settlement agreed to pay $24.7 Million.
FACT: This problems with Fannie Mae are part of what led to the eventual collapse of Fannie, Freddie and the mortgage market in general. Fannie and Freddie are in some way responsible for more than half of all mortgages in this country, so when they have problems the entire mortgage market feels it. Problems caused in part by outright fraud, mis-stated earnings, veiled profits, and a policy of buying new debt while not paying down the old.
FACT: Due to collapse of Fannie and Freddie, in no small part related to the excellent management of Franklin Raines, the American taxpayer bailed them out at a tune of $200 BILLION.
FACT: The Washington Post reported that Barack Obama was being advised by Franklin Raines in July of this year. There is no record of Barack Obama disputing that report at the time.
FACT: John McCain released the following ad yesterday, citing the Washington Post article and spectulating about the judgment of a candidate who would seek advice from Franklin Raines who is partly responsible for the pain and economic problems the American taxpayer is facing today. And who, at the very least, was responsible for Billions in Fraud and had to pay Millions in a settlement because of that fraud. And even after the fraud, Barack Obama was accepting over $126,000 from the company.
FACT: Now, all of the sudden, Barack Obama is disavowing that he ever received advice from Franklin Raines. A charge he didn’t bother to make when the Washington Post reported on that advice in July.
FACT: The Times political report (not opinion columnist, reporter) calls the ad racist.
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How about some “Straight Talk” (I hope Senator McCain won’t mind)? Just because Franklin Raines is black, and the ad rightfully links the two of them, does not make the ad racist. Equality means people are equally accountable, regardless of color. So Barack Obama doesn’t get a pass on having the POOR JUDGMENT to seek, advice from fraudster and mis-manager Franklin Raines because he too is black. That iss absolutely an absurd charge, and the Times and their “lead political reporter” owe their readers and John McCain and apology.
Barack Obama cited “judgment” as he major qualification to be President. The very judgment that led him to seek advice from a guy who was responsible for $6 – $9 Billion in fraud that the American taxpayer is now paying for (and then some). The very judgment that kept him quiet while Chris Dodd was obstructing John McCain’s efforts to reform Fannie and Freddie in 2005. The very judgment that allowed him to accept over $126,000 in contributions from Fannie and Freddie. The very judgment that allowed him to sit in a church for 20 years while his pastor blamed the U.S. Government for the AIDS virus. The very judgment that he used whingen vot 4 times against protections for infants that were born alive, preferring to let them die in soiled utility rooms without any medical care. The very judgment that he used when working with and accepting contributions from unrepentant American terrorist Bill Ayers. The very judgment that let him get a sweetheart real estate deal with slumlord Tony Rezko, who has now been convicted on corruption charges. The very judgment that allowed him to seek earmarks for the hospital where his wife worked and another one for a fundraiser.
Shall I continue?
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The ad was fair. The ad was correct. The ad was not racist. The question is once again Barack Obama’s judgment, of which there is none. And because Obama and the leftist lemmings can’t defend his judgment, the return to making racial smears against his opponent. You’ve seen it all week.
This does not suprise me at all that Obama has another close “friend” that is SO STINKING CORRUPT and bad for this country! Now Raines, it was Jim Johnson, Bill Ayers, Tony Rezko and the America hating Rev. Wright.
Americans need to wake up and see the Kool-aid the Barry Obama camp is pooring for them. Pure garbage.
Nobama….Keep the Change
[...] McCain tried to stop this. George Bush tried to stop this. What did Barack Obama do? NOTHING, but cash in with over $126,000 in contributions from Fannie Mae and Freddie Mac (two companies who have now been bailed out by your tax [...]