Jamie Gorelick, an official in Clinton's Justice Department -- the woman who built the "wall" that prevented the FBI from targeting terrorists before 9/11 -- worked for Fannie Mae and took home $26 million. Big-time Democrat Jim Johnson, who headed Obama's VP search committee, also hauled in millions from running Fannie Mae.
Obama brazenly blames John McCain and the GOP for the current Wall Street mess when it's clear none of it was due to Republican policies. The truth of the matter is that it was McCain and three GOP colleagues who sought to reform the government's lending policies three long years ago after the Bush administration had failed two years earlier. On May 25, 2006, McCain spoke on behalf of the Federal Housing Enterprise Regulatory Reform Act of 2005, and warned against the debacle we are now facing if it failed to pass.
He told the Senate that a report by the Office of Federal Housing Enterprise Oversight charged that "Fannie Mae employees deliberately and intentionally manipulated financial reports to hit earnings targets in order to trigger bonuses for senior executives."
McCain warned, "If Congress does not act, American taxpayers will continue to be exposed to the enormous risk that Fannie Mae and Freddie Mac pose to the housing market, the overall financial system, and the economy as a whole."
McCain predicted the entire collapse we now are suffering through. He stressed the falsification of financial records to benefit executives, including Obama advisers Franklin Raines and Jim Johnson.
Now Obama has the nerve to try to pin the blame on McCain and the GOP when the facts show that the blame must be pinned on the Democratic donkey.