Fannie Mae and Freddie Mac Invest in Democrats

Fannie Mae and Freddie Mac Invest in Democrats

The federal government recently announced that it will come to the rescue of Freddie Mac and Fannie Mae, two embattled mortgage buyers that for years have pursued a lobbying strategy to get lawmakers on their side. Both companies have poured money into lobbying and campaign contributions to federal candidates, parties and committees as a general tactic, but they've also directed those contributions strategically. In the 2006 election cycle, Fannie Mae was giving 53 percent of its total $1.3 million in contributions to Republicans, who controlled Congress at that time. This cycle, with Democrats in control, they've reversed course, giving the party 56 percent of their total $1.1 million in contributions. Similarly, Freddie Mac has given 53 percent of its $555,700 in contributions to Democrats this cycle, compared to the 44 percent it gave during 2006.

For discussion and consideration...

reply to post by DarkStormCrow


What this shows is that corruption has no parties. Seriously, if we were to point blame for FNM and FRE collapse it no one than Congress itself, through the years alarms were bein blown, Congress put so much pressure on this two institutions to provide capital to companies and at the same time absorb all kinds of loans to keep financial institution liquid that it was about time for them to fail... the same goes for Social Security if it is not dealt with NOW.

There is no blame to be pointed here to any executive administration this is solely on Congress both Republican and Democrat control for the last 40 years.

[edit on 9-9-2008 by Bunch]