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- sullivanst, on 09/20/2008, -0/+8But of those contributions to Obama, only $16,000 were from officers or directors of the company. Of course, Obama does not accept lobbyist contributions.
John McCain, on the other hand, received $169,000 combined from officers, directors AND LOBBYISTS for Freddie & Fannie. Since he doesn't appear high on the list of contributions from employees, we can safely assume that most of the total was in fact from the lobbyists.
Now, which is more damaging: receiving contributions from rank-and-file employees of a company, or receiving contributions from lobbyists for that company? Who's more likely to try to influence you in office? - inactive, on 09/20/2008, -1/+9My favorite used to be The Clear Skies Act that deregulated industry polluters, but these are pretty amazing too!
- paintgrl, on 09/20/2008, -0/+7McCain's campaign is being influenced by the same people who did this.
FTA: The Net Capital Rule: In 2004, the SEC loosened the “net capital” rule, which required “that broker dealers limit their debt-to-net capital ratio to 12-to-1.” The five investment banks that qualified for an alternative rule - Bear Stearns, Lehman Brothers, Merrill Lynch, Goldman Sachs, and Morgan Stanley - were allowed “to increase their debt-to-net capital ratios, sometimes, as in the case of Merrill Lynch, to as high as 40-to-1.” - inactive, on 09/20/2008, -1/+8GOP Was For Deregulation Before They Were Against It
thinkprogress.org — Republicans deregulated markets causin the financial meltdown, then 6 months ago unveiled new plans for more deregulation of financial institutions, which McCain has supported on the campaign trail, but now GOPers have all flip-flopped.
http://thinkprogress.org/wonkroom/2008/09/19/dereg ...
- marabout40, on 09/20/2008, -0/+4Anyone interested in the truth, please read: http://politifact.com/truth-o-meter/statements/727 ...
On the Freddie and Fannie question it as McCain said: Obama is No. 2 on the list, with $126,349, right after Sen. Chris Dodd, D-Conn., chairman of the Senate Banking Committee, who had $165,400.
But the list requires a few notes of explanation.
Corporations cannot give to candidates so the center's list adds up contributions from Fannie and Freddie employees and their families. Obama has received a lot of money during his presidential campaign, though, and Fannie and Freddie don't make his list of top 20 companies. (The top three companies with employees donating to Obama are Goldman Sachs, University of California, and Citigroup, according to the center.)
The New York Times looked at contributions from Fannie and Freddie's boards of directors and lobbyists, who are technically not employees. That analysis found Fannie and Freddie-related contributors gave $116,000 to John McCain and his related committees, compared with $16,000 to Obama and his related committees.
CNN also weighs in: http://politicalticker.blogs.cnn.com/2008/09/19/fa ...
And this pretty neat chart from NYTimes provides a nice visual: http://graphics8.nytimes.com/images/2008/09/10/us/ ...
Barack Obama has received more campaign donations than any other candidate in history. So, it only stands to reason that he'll probably receive more donations from any one company than John McCain.
What you need to consider, is McCain's background and his long history of being "fundamentally a de-regulator" and supporting lobbyists and their clients. - JoeParanoid, on 09/22/2008, -0/+1We have criminal laws because we don't trust people (a fact never in dispute), we should have economic laws for the same damn reason.
- inboxnews, on 09/20/2008, -9/+1Obama was the 2nd largest recipient of Fannie Mae and Freddie Mac campaign contributions from 1989-2008, having received: $126,349. Source: http://www.opensecrets.org/news/2008/09/update-fan ...
Now remember, Obama's been in the Senate less than four years, but he still managed to grab the No. 2 spot ahead of John Kerry — decades in the Senate — and Chris Dodd, who is chairman of the Senate Banking Committee. Source: http://www.foxnews.com/story/0,2933,423701,00.html
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