Obama's Fannie Mae/Freddie Mac Connection-Truth!

Campaign Contributions From Fannie Mae & Freddie Mac for Senator Barack Obama-Truth!

Summary of eRumor:
An eRumor called the “Barack Obama’s Fannie Mae/Freddie Mac Connection” claiming that Senator Barack Obama ranked the number two spot in campaign contributions from Fannie Mae and Freddie Mac.
The Truth:
John Gibson of Fox News wrote an article by this title on September 16, 2008, quoting sources from the Center for Responsive Politics.  In it, Gibson stated that Fannie Mae and Freddie Mac had used “huge lobbying budgets and political contributions to keep regulators off their backs.” According to the article, “The top three U.S. senators getting big Fannie and Freddie political bucks were Democrats and No. 2 is Sen. Barack Obama.”

The Center for Responsive Politics (CRP), according to their web site, is a “nonpartisan guide to money’s influence on U.S. elections and public policy.”

According to the report posted on the CRP web site Donations for the Illinois senator from Fannie Mae and Freddie Mac report between 1989-2008 tabulated up to $126,349.  The same report show John McCain contributions from the same group tabulated to $21,550.

A New York Times article dated September 9,2008 stated both candidates had ties with the lending giants but Senator Obama “is second among members of Congress in donations from the firms’ employees and political action committees.”

Click here for the article

Click here for the Center for Responsive Politics on Campaign Contributions Reports

CLICK HERE for a list of other related stories about Barack Obama

updated 10/04/08