Conflict of Interest in Fannie and Freddie?

It seems that someone has been giving lot of money to politicians, even though it was partly government owned. This is the government giving money to the government and not investing it in it’s own company from failing. This from Open Secrets:

“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.”

And this:

Name

Office

Party/State

Total

1. Dodd, Christopher J

S

D-CT

$133,900

2. Kerry, John

S

D-MA

$111,000

3. Obama, Barack

S

D-IL

$105,849

4. Clinton, Hillary

S

D-NY

$75,550

5. Kanjorski, Paul E

H

D-PA

$65,500

6. Bennett, Robert F

S

R-UT

$61,499

7. Johnson, Tim

S

D-SD

$61,000

8. Conrad, Kent

S

D-ND

$58,991

9. Davis, Tom

H

R-VA

$55,499

10. Bond, Christopher S ‘Kit’

S

R-MO

$55,400

11. Bachus, Spencer

H

R-AL

$55,300

12. Shelby, Richard C

S

R-AL

$55,000

13. Emanuel, Rahm

H

D-IL

$51,750

14. Reed, Jack

S

D-RI

$50,750

15. Carper, Tom

S

D-DE

$44,389

16. Frank, Barney

H

D-MA

$40,100

17. Maloney, Carolyn B

H

D-NY

$38,750

18. Bean, Melissa

H

D-IL

$37,249

19. Blunt, Roy

H

R-MO

$36,500

20. Pryce, Deborah

H

R-OH

$34,750

21. Miller, Gary

H

R-CA

$33,000

22. Pelosi, Nancy

H

D-CA

$32,750

23. Reynolds, Tom

H

R-NY

$32,700

24. Hoyer, Steny H

H

D-MD

$30,500

25. Hooley, Darlene

H

D-OR

$28,750

~PCCapitalist

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One CommentLeave a comment

  1. As the Philip Massinger quote: “We have not an hour of life in which our pleasures relish not some pain, our sours, some sweetness.” – thank u for the share.


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