HOW WASHINGTON FAILED TO REIN IN FANNIE & FREDDIE: Basically, it was bought off. "Blessed with the advantages of a government agency and a private company at the same time, Fannie Mae and Freddie Mac used their windfall profits to co-opt the politicians who were supposed to control them. . . . Fannie Mae, and to a lesser extent Freddie Mac, became enmeshed in the fabric of political Washington. They were places former government officials went to get wealthy -- and to wait for new federal appointments. At Fannie Mae, chief executives had clauses written into their contracts spelling out the severance benefits they would receive if they left for a government post. The companies also donated generously to the campaigns of favored politicians."
Does it mention which politicos took the cash?" That rock won't be turned over until after the election, if they have anything to say about it. But here's a place to start. Also here. |
If you follow the links you'll find the top bribe takers from Fannie/Freddie to be 1) Dodd, 2) Kerry, 3) Obama, 4) Clinton.
And that's since 1989. So how corrupt do Obama and Clinton need to be to appear on this list with only a few years in the Senate each?
Pretty much all you need to know right there. Game over.
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