How Much Does Obama Know About Our Economic Crisis? [Updated]
By SusanUnPC on September 18, 2008 at 8:21 PM in Barack Obama, Economy, Qualifications, Tony Rezko
Today, the McCain camp released this frightening new TV ad about the kinds of advisers that the inexperienced, unqualified Obama is surrounding himself with.
Is it a stretch to call them crooks? They’re just like Obama’s bosom buddy Tony Rezko who enabled Obama to buy a mansion he couldn’t afford in exchange for Obama passing on millions in government housing contracts and state pension funds that Rezko defaulted on. Never mind the rat infestations, the broken plumbing that spewed sewage through the kitchen faucet, or no heat for MONTHs in the winter in the housing projects that Tony Rezko “managed” and “renovated.” The sole interest of Barack’s best buddy Tony was to make big bucks off taxpayer money. The only difference between Rezko and Obama’s current set of advisers is that, unlike Jim Johnson and Franklin Raines, Tony Rezko is going to prison. Here’s Raines:
You see, under Franklin Raines, Obama’s economic adviser — just like his crony at Fannie Mae, Jim Johnson, who Larry pointed out earlier today headed up Obama’s V.P. selection committee — “Fannie Mae committed ‘extensive financial fraud’ and was forced to pay a $400 million civil penalty,” writes the Washington Post.
“[T]he Securities and Exchange Commission and the Office of Federal Housing Enterprise Oversight found that Fannie Mae under Raines perpetrated ‘extensive financial fraud’ so that executives could collect big bonuses,” adds the Post.
So these are the “experts” that a wholly inexperienced Barack Obama would bring in to the White House. HOLD ON TO YOUR WALLETS! And pray!
Since his departure, Franklin Raines has managed to eke through on a pension of $110,000 per month — his retirement package will eventually earn him $25 million, it’s estimated. He also is forced to live this life style, writes the WaPo:
In the four years since he stepped down as Fannie Mae’s chief executive under the shadow of a $6.3 billion accounting scandal, Franklin D. Raines has been quietly constructing a new life for himself. He has shaved eight points off his golf handicap, taken a corner office in Steve Case’s D.C. conglomeration of finance, entertainment and health-care companies and more recently, taken calls from Barack Obama’s presidential campaign seeking his advice on mortgage and housing policy matters.”
– From the WaPo article, “On The Outside Now, Watching Fannie Falter”
UPDATED [by Larry Johnson]: If there was any doubt that Fannie Mae was the friends and family program for Barack Obama check out this video:
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DVD Version: 
- An account of the steady growth of President Clinton as a master of the game of nations.
