Fannie Mae & Lehman Execs Advising Obama-Truth & Fiction!

Former Fannie Mae and Lehman Brothers Executives Advising Obama- Truth! & Fiction!

Summary of eRumor:

An eRumor sometimes titled “The Three Men Who Brought Down Wall Street” claiming that Senator Barack Obama is taking economic advice from former Fannie Mae CEO Franklin Raines and former CFO Tim Howard.  Former Fannie Mae chairman and Lehmam Brothers executive Jim Johnson is also mentioned as an Obama advisor.

The Truth:

There was a John McCain approved ad released September 18, 2008 for television that accused Senator Obama of taking economic advice from former Fannie Mae CEO Franklin Raines but we still looking into formal accusations that Howard is also advising the Democratic candidate.

According a Washington Post analysis posted on September 19, 2008 but it was “based on a disputed premise.”  The McCain ad quotes a Washington Post story written by reporter Anita Huslin who says claims the former CEO had  “told her that during an in-person interview.”    On July 17, 2008, Huslin wrote in the Washington Post that the former Fannie Mae Chief Executive was taking “calls from Barack Obama’s presidential campaign seeking his advice on mortgage and housing policy matters.”

According to the article, spokesman for the Obama Campaign stated that Raines has “never advised Senator Obama about anything, ever.”

According to a Los Angeles Times article dated June 12,2008, former Fannie Mae chairman Jim Johnson was part of the team to advise in the selection Obama’s Vice Presidential candidate but resigned “after questions were raised about favoritism he may have received from Countrywide Financial Corp.” 

Click here for the Washington Post analysis

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

updated 10/10/08