Obama & Fannie Mae

We all already know the government had to bail out Fannie Mae. But apparently Obama seems to think its a good idea to take advice from from former Fannie Mae CEO Franklin Raines. Raines of course was cooking the books at Fannie Mae. Obama has since denied that he has taken any advice from Franklin Raines now that Mccain is pointing it out in a new ad. The problem is there are several news reports in the Washington Post of him consulting Raines.

7/16/08: "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."

8/28/08: "In the current crisis, their biggest backers have been Democrats such as Senate Banking Committee Chairman Christopher J. Dodd (Conn.) and House Financial Services Committee Chairman Barney Frank (Mass.). Two members of Mr. Obama’s political circle, James A. Johnson and Franklin D. Raines, are former chief executives of Fannie Mae."

Thanks to Hot Air for pointing this out.Another problem for Obama is there is video of the former CEO of Fannie Mae calling Obama and Democrats family:



Also Obama received $126, 349 in contributions from Fannie Mae. SOURCEOn another note Penny Pritzker who helped run Superior Bank into the ground is Obamas campaign-finance chairwoman. SOURCEMore on this at World Net Daily