CHICAGO POLITICS IN WASHINGTON

Chicago politics, generally recognized as the most corrupt in the nation, are now standard operating procedure in D.C. The man who now occupies our White House is by far the most corrupt politician I can remember in my lifetime. Probably the most corrupt president in our entire history. His history of rewarding campaign contributors with shady deals is only now being discovered, one piece at a time. Solyndra was only the tip of the iceberg, and that one cost us taxpayers over 1/2 billion dollars.

Our current economic malaise was precipitated by several major factors. 1. The federal government, in the person of Fannie Mae and Freddie Mac, forcing lenders to meet minority lending targets, thereby forcing them to grant mortgages to millions of people who had no chance of making their payments. 2. The greed of shady bankers and stock brokerages "bundling" these "toxic" mortgages and selling them to unsuspecting investors. These were not back street brokerage houses, they were some of the largest, formerly respected, financial institutions in America. George Bush tried several times to shut down the power of Fannie Mae and Freddie Mac, but was thwarted every time by the Democrats, who controlled both the House and Senate at that time.

Here's how Obama rewards the crooks who bear a large part of the responsibility for this mess:

Franklin Raines was a Chairman and Chief Executive Officer at Fannie Mae. Raines was forced to retire from his position with Fannie Mae when auditing discovered severe irregularities in Fannie Mae's accounting
activities. Raines left with a "golden parachute valued at $240 Million in benefits. The Government filed suit against Raines when the depth of the accounting scandal became clear.

Tim Howard - was the Chief Financial Officer of Fannie Mae. Howard "was a strong internal proponent of using accounting strategies that would ensure a "stable pattern of earnings" at Fannie. Investigations by federal regulators and the company's board of directors since concluded that management did manipulate 1998 earnings to trigger bonuses. Raines and Howard resigned under pressure in late 2004. Howard's Golden Parachute was estimated at $20 Million!

Jim Johnson - A former executive at Lehman Brothers and who was later forced from his position as Fannie Mae CEO. Investigators found that Fannie Mae had hidden a substantial amount of Johnson's 1998 compensation from the public, reporting that it was between $6 million and $7 million when it fact it was $21 million." Johnson is currently under investigation
for taking illegal loans from Countrywide while serving as CEO of Fannie Mae. Johnson's Golden Parachute was estimated at $28 Million.

WHERE ARE THEY NOW?

FRANKLIN RAINES?
Raines works for the Obama Campaign as his Chief Economic Advisor.

TIM HOWARD?
Howard is a Chief Economic Advisor to Obama under Franklin Raines.

JIM JOHNSON? Johnson was hired as a Senior Obama Finance Advisor and was selected to run Obama's Vice Presidential Search Committee.

Need I say any more?

Dumb Farmer