Wednesday, September 10, 2008

C.R.E.A.M. - Fannie May/Freddie Mac debacle

The Republican nominee, Mr. McCain of Arizona, has numerous close relationships with and contributions from current and former company lobbyists.

Mr. Obama, his Democratic rival from Illinois, is second among members of Congress in donations from the firms’ employees and political action committees.

Beyond the antilobbyist message, Mr. Obama also indicts the Bush administration and the Republicans who controlled Congress for a dozen years until 2007, including Mr. McCain.

This is bad for both men.  Neither really did enough to stop the housing crisis.  McCain seems to be in a worse position simply because he has close ties to lobbyists, including his inner circle.  Then again Obama has taken a lot of money from both of these companies.

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