I think Obama and his chronies are the drunken sailors. You can't guzzle as much money as they have and NOT be drunk - appears his followers are under-the-obama-kool-aid-influence as well.
Why else would ANY one vote for a guy who's PART of the problem and profits from it?
Remember? OBAMA is the guy that keeps saying he'll work to keep people IN their homes, not steal it from them.
The U.S. government takeover of Fannie Mae & Freddie Mac with their top execs advising OBAMA; Franklin Raines, former Clinton administration budget director; James Johnson, former aide to Democratic Vice President Walter Mondale; and Jamie Gorelick, former Clinton administration deputy attorney general. All three OBAMA-related executives earned millions in compensation from Fannie Mae. All three have been involved in mortgage-related financial scandals.
Johnson earned $21 million in just his last year serving as Fannie Mae CEO from 1991 to 1998. Johnson was appointed to head OBAMA's vice presidential selection committee, until a controversy concerning an alleged $7 million in questionable real estate loans he received on favorable terms from failed sub-prime mortgage lender Countrywide Financial surfaced and forced him to step down.
Raines earned $90 million in his five years as Fannie Mae CEO, from 1999 to 2004, Raines currently advises OBAMA on housing policy.
Gorelick earned an estimated $26 million serving as vice chair of Fannie Mae from 1998 to 2003. A panel chaired by Elena Kagan, dean and professor of law at Harvard Law School, speculated at the June two-day meeting of the American Constitution Society that Gorelick was a possible attorney general cabinet appointment if OBAMA should be elected president.
A review of Federal Election Commission records back to 1989 reveals OBAMA in his three complete years in the Senate is the second largest recipient of Freddie Mac and Fannie Mae campaign contributions, behind only Sen. Christopher Dodd, D-Conn. (Change?)
In contrast, McCain warned of the coming mortgage crisis as he pressed in 2005 for regulatory reform of Fannie Mae and Freddie Mac. McCain pointed out Fannie Mae's regulator had stated the company's quarterly reports of profit growth over the past few years were "illusions deliberately and systematically created" by the company's senior management, which resulted in a $10.6 billion accounting scandal.
The bill passed the House but was never brought up for a vote in the Senate, largely because of Democratic opposition to "CHANGE" in the Fannie Mae and Freddie Mac regulatory structure that remained in place until the Treasury takeover two weeks ago.
As evidenced by the failure to pass the Federal Housing Enterprise Regulatory Reform Act of 2005, the Democrats in Congress have repeatedly fought back Republican Party efforts to reform the two mortgage banking giants.
Instead, Democrats in Congress have sought to preserve the quasi-governmental status of the mortgage giants, seeing Fannie Mae and Freddie Mac as places to locate former top Democratic Party operatives, where they have earned millions in compensation, despite a continuing series of financial scandals. Enron-like accounting manipulation, for example, boosted earnings to a level at which massive executive bonuses could be paid.
The current US Congress (Led by Harry Reed , Nancy Pelosi & Joe Biden) made it a partisan agenda to stall, block, and fight any project of law that could help the incumbent party in any way!
The decision by the U.S. Treasury to take over Freddie Mac and Fannie Mae could end up costing the U.S. taxpayer as much as $100 billion, although the extent of losses at the two giant mortgage companies remains to be determined.