Disgraced former Fannie Mae CEO advising Obama

Franklin Raines was CEO of Fannie Mae from 1999 to 2004. During that time he sucked out 10s of millions of dollars in salary and bonuses. He was sued for overstating earnings and settled in April, 2008. So whom did Barack Obama seek out for economic advice – Franklin Raines. Some change, turning to the same bad actors that got us into this current mess.


  1. Wow, I hadn’t seen that one yet.

    Obama has been as slow to make decisive statements about this economic meltdown as he was about the Russian invasion of Georgia. This is just like the ‘above my pay grade’ comment at Saddleback. He can’t make decisions. Hence the ‘present’ votes in the IL Senate. He is so afraid of making the wrong decision that he doesn’t make ANY decision. This is where his lack of experience really hurts.

    Reminds me of Carter and the whole hostage crisis.

    Indecisiveness is not something we want or need in a president.

  2. Funny that Obama is so quick to point out that McCain has a former lobbyist advising him…I wonder why Obama didn’t brag about having Franklin Rains on his own team.

    Obama is busy slathering lipstick on his own “change” pig!

    What’s next, foreign policy advice from Ahmadinejad? Oh, yeah, he does want to “sit down and talk” with him, doesn’t he.

  3. This is McCain grasping at straws, especially after his mind-numbingly stupid comments about the “fundamentals of the econonmy” being strong.

    The fundamentals of a market-driven, capitalistic economy are strong when the federal government has to inject close to a trillion dollars into them?

    And Franklin Raines is NOT an advisor to the campaign – and the only evidence is an article in the Washington Post. What is not in doubt is Rick Davis used to be a lobbyist for Fannie and Freddie.

    So: Big government solutions? OK. Liberal Media? Better than OK. They should change the slogan of the GOP to:

    Welcome to the Party, Comrade.

  4. You’ve got to be kidding? You actually acknowledge the media is liberal and you think this is ok? What ever happened to the media reporting the news, not shaping it to fit their own biases? I don’t want to know what news reporters (or owners) party affiliations are – I want to hear the news – unbiased. Your beloved Obama has some very questionable associations, and some very poor judgement – I’ll take McCain over him anyday.

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