Aided by the New York Times with a spectacular piece of pathetic journalism, the Obama campaign has been trying to link McCain to the Fannie Mae problem, because one of his advisers, Rick Davis, had once done lobbying work for Fannie Mae. The Times and the Obama campaign even assert that Davis made some money from Fannie over the past year, which the McCain campaign sharply rebuts.
The Times and Obama fail miserably at this pathetic hit job. Davis has not been a lobbyist since 2005 and has not received profit from his company since 2006. Furthermore, Davis’ lobbying efforts didn’t cause Fannie Mae to fail. Jim Johnson is another story all together.
Jim Johnson, to this day, is an adviser to Barack Obama. Jim Johnson was once the CEO of Fannie Mae, and made over $20 million for his work there and a sweetheart mortgage deal from CountryWide while leading Fannie Mae into disaster (at the expense of the American taxpayer). Johnon pathetic management and potentially fradulent activites at Fannie Mae are partially responsible for the mess we are in now. Yet Obama continues to call on Johnson for advise on how to deal with this crisis.
Furthermore, Barack Obama received over $120,000 in campaign contributions from Fannie/Freddie, averaging more than $30,000 a year. John McCain received contributions from them too… at less than $1,000 per year. As they say… follow the money.
Captain Ed has a great post at Hot Air comparing the relationships of both these men to Fannie Mae and the current presidential campaigns. Rick Davis is not even remotely equivalent to Jim Johnson nor is there any evidence that Rick Davis is offering advice on the housing and economic crisis to John McCain. Can Johnson and the Obama campaign make a similar claim? Not hardly.
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