Sunday, October 05, 2008


The Headline Was Perfect!

FoxNews chattering skull, Bill O'Reilly, blasted Congressman Barney Frank (D-MA) on the mess he made at Fannie. Watch the video here.

Other headlines mentioned "Barney Frank's Love Connection With Fannie."

In fact, when The Lifeguard Googled "Barney Frank" and "Fannie", he got over 450,000 hits. (Of course, Barney Frank has gotten over 450,000 hits on his Fannie, so I am not surprised.)

The bottom (no pun intended) line is that the Democrat Party generally--and Congressman Frank and Senators Dodd and Obama--took shitloads of money from lobbyists for Freddie Mac and Fannie Mae. In fact, Senator Obama had one heretofore unmentioned accomplishment in the Senate: In just three years, he collected almost as much pelf from Fannie Mae as Senator Christopher Dodd did in thirty years.

Further, Senator Obama seems to take economic advice from wholly-owned subsidiaries of Fannie (like Congressman Frank). (Again, no pun intended in the use of the words "wholly" and "Fannie" in a sentence mentioning Congressman Barney Frank.) Oh, and former Fannie Mae CEO, Franklin Raines (who was ousted in 2004 in the wake of a $6.3 billion accounting scandal).

Wait, this started as a one-line commentary on a headline (again, no pun intended) and turned into a post on the lending crisis....

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