“These two entities — Fannie Mae and Freddie Mac — are not facing any kind of financial crisis, the more people exaggerate these problems, the more pressure there is on these companies, the less we will see in terms of affordable housing.” Barney Frank in response to the Bush administration overhaul plan.
Senator Obama has also been a recipient of campaign donations from Fannie and Freddie according to the LA TIMES, However a campaign aid said the donations did not influence Obama in any way. Okay, if you say so Mr. Campaign Aid.
So, when Bush tried to overhaul the system to tighten up the regulations, according to this New York Times article, Obama's friends at Freddie and Fannie didn't expect anything in return. No, they all just wanted to make sure that folks got affordable housing.
Why John McCain is not shouting this from the rooftops just goes to show you, one party is corrupt and the other party is stupid.
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