Obama Lied. Bush tried to get a Freddie Mac and Fannie Mae regulatory overhaul in 2003 - Democrats stopped it!
While John McCain tried to reform Fannie Mae and Freddie Mac, Obama took boatloads of their money. While Obama talked reform and demonized CEOs, he took as advisers the very people responsible for Fannie Mae’s failure.
John McCain saw it coming also commenting during his run for office ... “We’ve heard a lot of words from Senator Obama over the course of this campaign. But maybe just this once he could spare us the lectures, and admit to his own poor judgment in contributing to these problems. The crisis on Wall Street started in the Washington culture of lobbying and influence peddling, and he was square in the middle of it.”
Corruption You Can BELIEVE In: Failed Sub Primes and Mortgage Fraud Lenders Funneled Money to Dodd & Obama the Most. Fannie & Freddie Gave $200 Million to Partisans-Most Went to Democrats! Committee Chairman Christopher J. Dodd, Obama Among Top Recipients.
Congress KNEW this was coming and have for years. The bill to change the oversight rules was killed in a party line vote with Democrats against it.
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