Posted on 09/20/2008 2:44:14 PM PDT by syriacus
In recent years, under [James] Johnson, a prominent Democrat... Fannie Mae has established itself as perhaps the most politically astute of big corporations.
hiring some of the best lobbyists in town, spreading campaign contributions around [snip]
The company has repeatedly neutralized efforts to re-examine or scale back the benefits of its Government-chartered status, including its exemption from state and local income taxes and the widely held assumption -- nowhere written down -- that the Government would bail out Fannie Mae if it ever got into financial trouble.[snip]
... Mr. Raines no doubt understands full well the power of well-placed campaign contributions. [snip]
Fannie Mae has mastered the art of grabbing Congress's attention by running special housing programs in the districts of key lawmakers -[snip]
If there is going to be significant growth in coming years, it will have to come from black people,...or Hispanic people [snip].
the company recently introduced a program that allows lenders to offer mortgages with down payments as low as 3 percent
(Excerpt) Read more at query.nytimes.com ...
The media is covering this up. Hopefully the word will get out eventually . . . before it’s too late.
Democrat fingerprints are all over this one. Unfortunately, the press will see to it that “Evil Republicans” get the blame and the people who made this possible will not only get off scot free, they will get to run the country like they ran Fannie Mae.
bump
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.