Wednesday, June 11, 2008


Is it still OK to feel less than thrilled about the two presidential candidates?

We are now forced to choose between the two nominees, the choice is clear; one will serve as our next President. So why don’t I see the potential for significant change?

As the media starts vetting Obama with the same fervor they do all other candidates, we discover more about what makes him tick. They have already made a fool of McCain, so now it’s Obama’s turn.

This VP search team he put together is the latest blunder; James Johnson turns out to be one of the very people the public would like to tar-n-feather now that we know more about his ties to Countrywide and FannyMae. Might not be such a big deal had the Obama campaign not gone after Mark Penn for his ties to Countrywide.

James Johnson, one of three people tapped by Mr. Obama recently to oversee the search for his running mate, took at least five real estate loans totaling more than $7 million from Countrywide Financial Corp. through an informal program for friends of the company's CEO, Angelo Mozilo.

The "Friends of Angelo" loans were at rates below market averages, three for the purchase of homes. One for $5 Million in Idaho, One for $1.3 Million in California and one in DC for $1 Million; All at rates around 3.8%.

On the campaign trail, Mr. Obama has criticized Countrywide's executives. Here is a quote from the AP: "These are the people who are responsible for infecting the economy and helping to create a home foreclosure crisis. Two million people may end up losing their homes," Mr. Obama said in March at a town hall meeting in Lancaster, Pa.

Here’s a shocker, a total of $19 million in bonuses was paid to Mr. Mozilo and the president of Countrywide, David Sambol. "They got a $19 million bonus while people are at risk of losing their homes. What's wrong with this picture?" Mr. Obama asked.

Also from the AP: From 1991 to 1998, Mr. Johnson served as CEO of the Federal National Mortgage Association, also known as Fannie Mae, which worked closely with Countrywide, one of the nation's leading lenders and loan servicing companies. In 1996, Mr. Johnson named Mr. Mozilo as chairman of Fannie Mae's national advisory council. A 1999 article in the American Banker said the two men had a "close friendship."

Countrywide and FannyMae were two of the four home mortgaging companies that Elliot Spitzer was about to pop for purposely loaning to ineligible applicants of Black and Hispanic origin in economically stressed regions. This was a quick way to wrap up unsecured loans “bundling” and reselling at discount rates to unsuspecting foreign investors, while insuring the economic demise of minority borrowers.

McCain isn’t off the hook, he’s got Phil Gramm from UBS on his staff and the Keating Savings & Loan scandal to reflect on.

These are powerful people and had the means to implement the sting that took Spitzer down before the bust. He gave them what they needed of course. But this swings around to the departure of Johnson from Camp Obama. This isn’t good.

Barack is looking less an instrument of CHANGE as the weeks go by.
With associates and staffers of this caliber, we may have the same nonsense in the White House after all. Regardless of the winner.


Anonymous said...

You have no faith my friend.
McCain will be less of a Conservative President than people make him out to be.
The Supreme Court judge nominees have to be vetted by the Democrats in charge, so extremist activists will not make it through and he knows it.
Once he is in, and messes things up for a few years, you'll have your chance to run Hillary in 2012.


Anonymous said...

I dont disaggree with any of your points, but I would rather break away from Republican control for a few terms, wouldnt you.
I just wish the options were more positive.

Eric said...

Republicrats and Democans, two sides of the same Globalist coin.

Both sides intent on the destruction of American Sovereignty, both stacked with lobbyists for foreign powers and trans-national corporations.

All the while, our men and women fight and die for a Country their leaders have already abandoned as they quickly and quietly plan the North American integration...

Anonymous said...

I really don't think Americans will ever find their Jimmy Stewart two hour film hero "Mr Smith Goes To Washington" in the real world.

Let's face it, we can all be found guilty by association if we microscope our own personal history. Example, I worked for Chrysler Corp. at one time and they were on the Govt Dole in the late 70's? Does that make me complicate with poor business practices? I guess with your purist logic it would.

I'm not so sure if you got struck cynical by Fox News or it's just Politically Bitter Acid Reflux from a Clinton supporter?

Please Mike, let's get real, and barring a Batman/Mother Theresa Ticket, let's back the choices we have...smitty

Anonymous said...

I payed attention to the primaries and saw something in the Democrats I only expected from the Republicans.
It saddens me to think we have been limited to the lesser of two evils once again.
I realize Bobby Kennedy Jr is long gone, but where are the true American Heros?
Will someone please stand up?

Anonymous said...

Whatever the case, I agree with Smitty (smile) - which happens less than one might expect!

We need to get Democrats in the White House...

We gotta' go with what we have...

It CAN'T BE MUCH WORSE than what we have had...

AND it COULD STILL BE considerably BETTER !!!!!

Until the manner in which elections are funded changes, there probably isn't going to be anyone running that hasn't been touched by corruption in some way, shape or form.

Sociopathy (and I'm not saying either McCain or Obama fit the bill...) may soon become a pre-requisite for playing in the sandbox of BIG politics...

Or has that happened already?


Anonymous said...

I feel like shutting the TV off for the next 6 months and keeping the empty rhetoric out of my family's vocabulary.

Anonymous said...

Amen to 6:57- If McCain wants the White House, then he will move slowly towards center, thereby picking up disenchanted Democrats. If Obama moves to the center, he will lose his left wing base and the Presidency. There are too many issues that Obama has to reverse at this time. In the immortalized words of the Hindeberg disaster, "Oh the tragedy of it all"
shelly z