September 24, 2008

Former Fannie Mae Chairman Jim Johnson Still Working For Obama's Campaign
— Gabriel Malor

Not even remotely under the bus. Jim Johnson has already been under there once after getting booted off Obama's VP search team. My impression is that unlike Grandma, Johnson simply had too much money and influence for Obama to keep him down there. Despite his ties to the Frannie/Freddie freakout he's still coordinating with Tom Daschle to pimp Obama to reluctant Clinton team members:

Former Senator Tom Daschle, a top Obama backer, emailed a select list this afternoon that he and Johnson would be leading a briefing intended largely for Clinton's campaign brain trust next month.

"Jim Johnson and I have scheduled another informal breakfast discussion and update on the campaign early next month," he wrote to a list including Senator John Kerry, James Carville, and Richard Holbrooke, as well as Clinton's former top campaign aides, including Howard Wolfson, Geoff Garin, and Harold Ickes.

[...]

The October third breakfast is also a mark of the continuing effort to bring the ex-Clintonites into the Obama fold.

Let me get this straight.

Republicans are still being blamed for the mortgage meltdown? More than Democrats? This is simply the most astounding failure to communicate.

Here's a reminder, be sure and read paragraph 8. Now email that to 3 friends or coworkers.

Posted by: Gabriel Malor at 09:49 PM | Comments (31)
Post contains 229 words, total size 2 kb.

1 When it's time to un-suspend the campaign activities, the Obama=Fannie/Freddie ads need to go shithouse everywhere. Do some new ones, and the old ones, like a WWI artillery barrage. Then bring in the Big Bertha. Ayers, Rezko, Wright.

Did I mention that I have come to believe that Michelle Obama is Ice Cube's secret twin sister?

Posted by: Brian72 at September 24, 2008 10:06 PM (h6lGQ)

2

@1:

You do realize that McCain is more or less a Republican, right?

Two or three popguns, a Nerf bazooka, and a ping-pong blaster would seem about right....

Posted by: Fa Cube Itches at September 24, 2008 10:23 PM (Tz2XN)

3 @2,
Point taken.......that was what I think should happen, not what will happen.. point taken...........

Posted by: Brian72 at September 24, 2008 10:51 PM (h6lGQ)

4

I put most of the blame for this ‘most astounding failure to communicate’ on McCain. With the exception of a couple of (admittedly good) ads, he is avoiding the real issue here – Democrat corruption. He has yet to call out Dodd, Clinton & Franks (while throwing Republicans like Cox under the bus), call for an Enron scale investigation, complete with hearings, and putting said Democrats on the hotseat. Of course, McCain does this all in service to ‘bipartisanship’.

So consumed is he with the fetish he has made of ‘bipartisanship’ that Senator McCain is perfectly willing, even eager, to cast aside truth and political advantage in service to said fetish. No doubt he fancies this a virtue; a demonstration of his selfless statesmanship.

Everyone else, from the increasingly frustrated Republican base to his political opposition sees it for what it really is – insufferable stupidity and a weakness to be exploited.

Understand this, Senator McCain: your candidacy has but two virtues. The first is Sarah Palin, the second the certain disaster promised by the Democrat ticket. Your surest rode to victory is to vigorously exploit them both to the fullest.

Sadly, you seem more interested in catering to your unseemly fetish.

Posted by: wombatty at September 25, 2008 02:13 AM (yj/F+)

5 It's difficult to get this stuff out there when the press has foregone any objectivity and is sooo in the tank. 

Posted by: mast at September 25, 2008 02:39 AM (cqZXM)

6

government proposing a fix for this mess is like having the guy that knee capped you offering to make a state of the art splint from the 2X4 he used to do it.

Posted by: mark c at September 25, 2008 03:45 AM (EVmYn)

7 Here's another Poll with McCain/Palin Up http://tinyurl.com/3tjex8

Posted by: PaREP> at September 25, 2008 03:45 AM (dWdDN)

8 And another one battleground tacking Pollhttp://tinyurl.com/4jjkml

Posted by: PaREP> at September 25, 2008 03:47 AM (dWdDN)

9 Well, we know who is actively running Barry O the Media Ho's campaign...and it isn't him...maybe he's out at the local Whole Food's store looking at the price of Arugula...or getting his prized teleprompter fixed.

Posted by: Eeyore's Swinging Sack at September 25, 2008 05:11 AM (VYEVW)

10 You had to figure thats one of the reasons why the demacreeps are bailing out FANNY MAE its becuase its one of the demacreeps parties biggist supporters

Posted by: Spurwing Plover at September 25, 2008 05:30 AM (1lnbE)

11

Jim Johnson IS the Washington Democratic establishment.  I love seeing all the Obamabots on other comment pages and blogs squealing that he left Fannie Mae way back in 1998.  But 1998 was the year that exposed the real sordid nature of what Fannie was doing, and it was on Jim Johnson's watch.  It didn't come out until the OFHEO report in 2003 that Fannie cooked its books to the tune of $400 million in 1998, and that Johnson, Frank Raines, and Jamie Gorelick raked in huge bonuses as a result.  Eventually this discovery led to an $11 billion earnings restatement and it took 800 people three years to clean up the books enough for Fannie to release a clean audited financial statement.  And in all that time, Barney Frank and Paul Sarbanes quashed all efforts to improve the regulation of this monstrous company.  And somehow a company that went three years without a clean audit was still getting AAA ratings on its bonds -- because the perception was that the government would pay off the bondholders if anything happened. 

Jim Johnson built the ginormous political machine that protected Fannie from any reguolatiory scrutiny or Congressional oversight.  I personally witnessed Johnson browbeating the board of the Mortgage Bankers Association because it wasn't lobbying hard enough on Fannie's behalf.  When MBA asked Johnson for Fannie's help in defending FHA from some Republicans who were trying to get it privatized, he told them to fuck off.  He constantly threated lenders to pull their business if they did not support Fannie's lobbying. 

He's a real nasty piece of work.

Posted by: rockmom at September 25, 2008 06:42 AM (iZqUY)

12 Johnson also gave Barney Frank's lover a bigtime job at Fannie Mae and put him in charge of developing all the new affordable loan products that Democrats loved and that eventually bankrupted the company.  See my post in the Barney Frank thread for details. 

Posted by: rockmom at September 25, 2008 06:45 AM (iZqUY)

13 This is simply the most astounding failure to communicate.

There's no failure to communicate here. The legacy media is doing a fine job communicating Democrat party talking points.

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