Freddie Mac secretly paid Republican firm to kill regulation

Freddie Mac secretly paid Republican firm to kill regulation

www.suntimes.com

October 20, 2008

FROM ASSOCIATED PRESS
WASHINGTON -- Freddie Mac secretly paid a Republican consulting firm $2 million to kill legislation that would have regulated and trimmed the mortgage finance giant and its sister company, Fannie Mae, three years before the government took control to prevent their collapse.

(visit the link for the full news article)

I am very surprised that this has come out in the mainstream media... though I am not at all surprised this happened. More of the same corruption... over and over again. This is corruption at its highest form... and our own government in responsible for it. For every high there is a low, and we are the ones that have to pay for Freddie/Fannie/US govt's. criminal tactics.

These people need to be brought to justice.

www.suntimes.com
(visit the link for the full news article)

[edit on 20-10-2008 by gabriel5578]

I do not see any difference between this and those crooked lobbyists who's sole job is to further the agenda of its representatives by whatever dirty, under-handed means necessary. Lie, cheat, steal, bribe.

Not surprising, what many people don't know is Freddie Mac has trading floors and traders, they have always been involved in the same type of thing as Wall Street, they trade and use derivitives, now up until the last few months it was not a government agency but I would like to know really where all of their profits were going and how heavily entertwined they became in the bad securities and who they traded them to.

Originally posted by ninthaxis
I do not see any difference between this and those crooked lobbyists who's sole job is to further the agenda of its representatives by whatever dirty, under-handed means necessary. Lie, cheat, steal, bribe.

well, i see a difference...mccain has said publicly many times that obama helped bring down fannie and freddie and now.... amazingly...gee ...someone else did it.

The difference here is McCain had nothing to do with this, the article is even quoted as such.

This is government corruption that needs to be rooted out immediately. I don't think this speaks ill of McCain at all, as this is exactly the kind of thing he is known for going after.

I don't think he mentioned McCain, he (or she) said "someone else". However, the fact that the guy running McCain's campaign is the same guy who took this money to kill the attempt at regulation, makes McCain's attack on Obama a little dishonest. Either he knew all along, or his campaign manager was lying to him.

edit: oops, sorry not his campaign manager his convention manager. Big difference there I'll concede that.

[edit on 10/20/2008 by mythatsabigprobe]