Tags: congress  crises  economic  fannie  freddie  house  housing  lending  liberals  loan  mac  mae  money  mortgage  policy  realestate  
Channel: News & Politics
Uploaded: December 31, 1969 at 6:59 pm
Author: jbranstetter04
Length: 04:45
Rating: 4.72
Views: 6048
http://www.govtrack.us/congres... tried, but the Democrats blocked it. Blame the Democrats for this mortgage "crisis". They are the ones who started this baloney that anyone and everyone should be able to get a loan to buy a house. "Don't discriminate, why should it matter if they are poor, why should only people with money be able to buy a house, who cares if they don't have a 10% down payment, we the government will take the risk. Well we the people (government) took the risk, and now we must pay the price. Fannie Mae and Freddie Mac Invest in DemocratsPublished by Lindsay Renick Mayer on July 16, 2008 5:27 PMThe 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.Fannie Mae and Freddie Mac have also strategically given more contributions to lawmakers currently sitting on committees that primarily regulate their industry. Fifteen of the 25 lawmakers who have received the most from the two companies combined since the 1990 election sit on either the House Financial Services Committee; the Senate Banking, Housing & Urban Affairs Committee; or the Senate Finance Committee. The others have seats on the powerful Appropriations or Ways & Means committees, are members of the congressional leadership or have run for president. Sen. Chris Dodd (D-Conn.), chairman of the Senate banking committee, has received the most from Fannie and Freddie's PACs and employees ($133,900 since 1989). Rep. Paul Kanjorski (D-Pa.) has received $65,500. Kanjorski chairs the House Financial Services Subcommittee on Capital Markets, Insurance and Government-Sponsored Enterprises, and Freddie Mac and Fannie Mae are government-sponsored enterprises, or GSEs.Top Recipients of Fannie Mae and Freddie MacCampaign Contributions, 1989-20081. Dodd, Christopher JD-CT $133,9002. Kerry, JohnD-MA $111,0003. Obama, BarackD-IL $105,8494. Clinton, HillaryD-NY $75,5505. Kanjorski, Paul ED-PA $65,5006. Bennett, Robert FR-UT $61,4997. Johnson, TimD-SD $61,0008. Conrad, KentD-ND $58,9919. Davis, TomR-VA $55,49910. Bond, Christopher S 'Kit'R-MO $55,40011. Bachus, SpencerR-AL $55,30012. Shelby, Richard CR-AL $55,00013. Emanuel, RahmD-IL $51,75014. Reed, JackD-RI $50,75015. Carper, TomD-DE $44,38916. Frank, BarneyD-MA $40,10017. Maloney, Carolyn BD-NY $38,75018. Bean, MelissaD-IL $37,24919. Blunt, RoyR-MO $36,50020. Pryce, DeborahR-OH $34,75021. Miller, GaryR-CA $33,00022. Pelosi, NancyD-CA $32,75023. Reynolds, TomR-NY $32,70024. Hoyer, Steny D-MD $30,50025. Hooley, Darlene D-OH $28,750