About this financial crisis

Things have happened this week that shed a large light on Obama and his associations. Or, rather, it would...if the MSM would bother to report on anything detrimental to the chosen one.

Let's look at some of the facts. McCain came out in 2006 sponsoring a bill to regulate Fannie Mae, noting accounting scandals that artificially reported earnings and losses in order to trigger huge bonuses for executives. He warned that if left alone, Fannie Mae could

Read carefully this quote from Sen. McCain.

"For years I have been concerned about the regulatory structure that governs Fannie Mae and Freddie Mac--known as Government-sponsored entities or GSEs--and the sheer magnitude of these companies and the role they play in the housing market. OFHEO's report this week does nothing to ease these concerns. In fact, the report does quite the contrary. OFHEO's report solidifies my view that the GSEs need to be reformed without delay.

"If Congress does not act, American taxpayers will continue to be exposed to the enormous risk that Fannie Mae and Freddie Mac pose to the housing market, the overall financial system, and the economy as a whole."

Think he knew what he was talking about? This was in 2006!

Next point - Who were some of the prime beneficiaries of the huge bonuses that were triggered by these cooked books? Okay, there was Jim Johnson, a former ally of the Clintons who was on Obama's VP search committee. And there was Jamie Gorelick - remember her from the Wall of Secrecy fame? Let's not forget Franklin Raines, who has been a financial advisor to Obama. They got millions of dollars and now the taxpayers are footing the bill. Another person wrapped up in the financial mess is Obama confidante and Finance Chair Penny Pritzker.

Maybe this all helps explain how Obama is second on the list of those in congress who received the most money from Fannie Mae for a ten year period, despite his only being in congress for less than three years of that time.

Let's see how the MSM treats any of this. Please, don't hold your breath waiting for any of the talking heads to even mention any of this, however. It would not be good for your health.