Ok, the economy has been a big one lately for both candidates. Basing this solely on my memory, and a little ignorance as to Sen. McCain's complete stand on it, does anyone know exactly HOW the candidates plan to get the economy going in a positive direction???

The only thing I know, and again, basing solely on memory here, is that Sen. Obama plans to raise the Capital Gains tax. Now, I don't see how that would be conducive with stimulating the economy. Why hasn't anyone (that I know of, anyway) mentioned the effect this will actually have on things??? And how exactly DO we get the economy going in a positive direction??? Why is it going in a "bad" direction??? What is that based on ?? The housing situation/bank situation??? Jobs, or lack of??? Gas prices????

As a side note, DH said to me yesterday that if they really wanted people to use those stimulus checks on purchases, and not savings, they should have issued them in the form of a pre-paid Visa card. Hmmmm, made good sense to me.

__________________
Doing the right thing isn't always the same as doing the easy thing.

They gave out the stimulus checks in order that they be spent. Retail sales have been dismal. It would be silly for the rebates to be issued in the form of a prepaid Visa card. There's a cost associated with their purchase. Cash spends just fine.

The GOP has always said taxes are bad, government is bad and regulation is bad. Another tenet of GOP philosophy is that there's a free market solution for everything.

This crisis is the result of an unregulated financial market. If the Fed doesn't step in, it's a Depression. Credit has been too cheap and far too easy.

We have a huge deficit. Were taxes raised on capitol gains, rich people would be a little less rich. Stocks are a method for a business to raise money. Investors will still invest. We taxpayers have pumped 800 billion into financial markets this year.

Frankly, if we have a McCain administration, we'll need to raise the tax base considerably. Wars are expensive. I'm quite sure that he'll attack Iran as part of the PNAC fantasy. Where he'll get the troops I don't know. It isn't likely that any of our creditors will hold their purse strings open.

Change. That's how, and yet as you say with nothing to back it up. I would think by now candidates could come up with a better slogan than "change". So many use this and yet they change nothing in a positive way.

I didn't want the stimulus check and now there is talk of another. I am not fooled, I am paying myself, in effect, and this country is already trillions in debt. I can't, we can't afford to keep giving. All it did was give those who didn't even actually pay taxes some free money.

I heard a few minutes of President Bush on the radio today about the financial situation. The one word there is greed. I am not so sure the government can keep bailing out - I think it just might be time for the government to step back, not open our checkbooks and let the greed fall where it may.

dl

Unfortunately, we would just end up in another depression,

The stimulus efforts were an effort to prop up retail. Those who live in poverty were the most likely to spend them on retail.

If you want to know what the word change means; go to Obama's web site.

People survived the last depression. It took a war to get us out of it, as I was taught in history. In this era, it seems to be the other way, a war is putting us in a depression (along with some other events). I think a lot of people today can't do without things they deem necessary when in reality, aren't. I think congress is scared to death people won't be able to do without their cell phones, fake nails, huge house, huge cars, etc, etc, etc. We don't know what it is to sacrifice. Oh we think we do, but we don't.

Those who live in poverty, as in not paying taxes, got money. I got my own money back. There is something wrong with that ! We, as a nation are in phenonmenal debt.

I know what the word change means and no candidate's website will skewer it for me. Neither he nor McCain will be able to do it. Neither.

dl

Hmmmmm. . .I'm not so sure about the whole Obama change thing. Sen Obama appears to be in bed with many of those that helped create the economic issues we are seeing in the news everyday. All of the issues with Jim Johnson occurred long before Obama hired him to vet his VP. Why did he still hire him? How can we trust someone to fix this problem when many of those that created it either work for Obama or are major donors? His campaign is stuffed with former employees or lobbist for Lehman , Freddie and Fannie, yet I am to believe he is going to "reform" them. Obama wants to blame President Bush and Sen. McCain for these problems. If he wishes to find those that should be blamed he should start at one of his fund raising dinners or on his campaign airplane.

Obama Ranks Second Among Donations From Fannie Mae And Freddie Mac Among All Members Of Congress Since 1989:
In Just Four Years, Obama Has Received More Money From Fannie Mae And Freddie Mac Than Any Other Member Of Congress In The Past Two Decades (Since 1989) Except Senate Banking Committee Chairman Sen. Chris Dodd.
OpenSecrets.org: Money in Politics -- See Who's Giving & Who's Getting

Obama Ranks Second Among Donations From Lehman Brothers Among All Members Of Congress Since 1989:
In Just Four Years, Obama Has Received More Money From Lehman Brothers Than Any Other Member Of Congress In The Past Two Decades (Since 1989) Except Sen. Hillary Clinton. OpenSecrets.org: Money in Politics -- See Who's Giving & Who's Getting

Top Executives At Lehman Brothers Are Obama Bundlers:
Ted Janulis, Head Of Mortgage Capital At Lehman Brothers Until His Retirement In September 2008, Is A Bundler For Obama's Presidential Campaign Committed To Raising $50,000 To $100,000. Welcome to Obama for America

John Rhea, A Managing Director And Co-Head Of Global Consumer And Retail Investment Banking For Lehman Brothers, Is A Bundler For Obama's Presidential Campaign Committed To Raising $50,000 To $100,000.
Welcome to Obama for America

"Nadja Fidelia, Who Is Also A Managing Director At Lehman Brothers, Has Raised At Least $50,000 For Mr. Obama..." (Timothy Williams, "Obama Takes His Campaign to Harlem," New York Times, 11/30/07)

OBAMA ADVISOR JIM JOHNSON FORMER FANNIE MAE AND LEHMAN BROTHERS EXECUTIVES EXPANDED LOBBYING ACTIVITIES AND RECEIVED MILLIONS IN COMPENSATION

Former CEO Of Fannie Mae And Former Obama Advisor Jim Johnson Resigned Under Criticism:
Jim Johnson Is The Former CEO Of Fannie Mae. (David A. Vise, "Fannie Mae Lobbies Hard To Protect Its Tax Break," The Washington Post, 1/16/95)

"Jim Johnson, The Former Chairman Of Fannie Mae Who Was One Of Three Advisors Tapped By Democrat Barack Obama To Vet Vice Presidential Candidates, Resigned Today After Questions Were Raised About Favoritism He May Have Received From Countrywide Financial Corp." (Johanna Neuman, "Barack Obama Advisor Jim Johnson Quits Under Fire," Los Angeles Times, 6/12/08)

Johnson Remains A Bundler For Obama's Presidential Campaign And Has Committed To Raising $100,000 To $200,000.
Welcome to Obama for America

Johnson Earned Large Bonuses At Fannie Mae Due To An Accounting Manipulation:

In 1998, Fannie Mae's Earnings Were Manipulated, Which Resulted In "Maximum Payouts" To Executives Including CEO Jim Johnson. "As CEO of Fannie Mae, Johnson, a former chief of staff to Vice President Walter F. Mondale and chairman of the board of the Kennedy Center, was the beneficiary of accounting in which Fannie Mae's earnings were manipulated so that executives could earn larger bonuses. The accounting manipulation for 1998 resulted in the maximum payouts to Fannie Mae's senior executives -- $1.9 million in Johnson's case -- when the company's performance that year would have otherwise resulted in no bonuses at all, according to reports in 2004 and 2006 by the Office of Federal Housing Enterprise Oversight." (Jonathan Weisman and David S. Hilzenrath, "Obama 's Choice Of Insider Draws Fire," The Washington Post, 6/11/08)

* The Manipulation Resulted In Johnson Receiving A Bonus Of Over $1.9 Million When He Otherwise Would Not Have Earned A Bonus. "An Office of Federal Housing Enterprise Oversight report in September accused the company of improperly deferring $200 million of estimated expenses in 1998, which allowed management to receive full annual bonuses. Had the expenses been recorded that year, no bonuses would have been paid, the report said. Fannie Mae reported paying bonuses in 1998 to Johnson, who received $1.932 million; Raines, who then was chairman-designate, $1.11 million; Chief Operating Officer Lawrence M. Small, $1.108 million; Vice Chairman Jamie S. Gorelick, a former deputy attorney general, $779,625; Chief Financial Officer J. Timothy Howard, $493,750; and Robert J. Levin, who was executive vice president for housing and community development, $493,750." (Albert B. Crenshaw, "High Pay At Fannie Mae For The Well-Connected," The Washington Post, 12/23/04)

Johnson Also Received Fees And Compensation From Fannie Mae Worth $3.3 Million Between 2001 And 2006. "Johnson left the company before it was swept up in an accounting scandal that tarred its reputation, but even during the years of scandal, Johnson was reaping hundreds of thousands of dollars in consulting fees and other compensation, $3.3 million in all between 2001 and 2006." (Jonathan Weisman and David S. Hilzenrath, "Obama's Choice Of Insider Draws Fire," The Washington Post, 6/11/08)

Johnson Recruited Current Obama Economic Policy Advisor Former Commerce Secretary William Daley As A Lobbyist For Fannie Mae:
Former Commerce Secretary William Daley Serves As An Obama Advisor For Economic Policy. "At his stop in New Mexico, Obama sought to keep the focus almost exclusively on the economy, appearing with a panel of experts that included William Daley, brother of Chicago Mayor Richard Daley and a former U.S. commerce secretary." (John McCormick and Jill Zuckman, "Rivals Spend Day As Frequent Fliers," Chicago Tribune, 2/2/08)

Former Fannie Mae CEO Jim Johnson Recruited Former Sec. Daley As A Lobbyist For Fannie Mae. "Fannie's government relations operations dramatically expanded in the mid-1990s, when then-CEO Johnson recruited Washington A-listers Robert Zoellick, who served in the Reagan and Bush administrations; Lawrence M. Small, former secretary of the Smithsonian Institution; and William M. Daley, commerce secretary in the Clinton administration." (Lisa Lerer, "Fannie, Freddie Spent $200M To Buy Influence," The Politico, 7/16/08)

From 2002 Through 2005, Daley Was A Registered Lobbyist For Fannie Mae. (U.S. Senate Office Of Public Records Website, soprweb.senate.gov

Before Heading Fannie Mae, Johnson Was A Registered Foreign Agent For Lehman Brothers:

In The 1980s, Johnson Worked For Shearson Lehman Brothers. "In the early 1980s Johnson had already started his own Washington consulting company, Public Strategies, with his Carter administration colleague Richard Holbrooke. And now he followed Holbrooke to Wall Street as an investment banker at Shearson Lehman Brothers." (Lloyd Grove, "The Big Chair," The Washington Post, 3/27/98)

OBAMA DEMOCRATS BLOCKED REFORM OF FANNIE MAE AND FREDDIE MAC
John McCain Urged Action More Than 2 Years Ago, Co-Sponsoring Legislation To Reform Fannie Mae And Freddie Mac Warning: "If Congress Does Not Act, American Taxpayers Will Continue To Be Exposed To The Enormous Risk That Fannie Mae And Freddie Mac Pose To The Housing Market, The Overall Financial System, And The Economy As A Whole." McCain: "I join as a cosponsor of the Federal Housing Enterprise Regulatory Reform Act of 2005, S. 190, to underscore my support for quick passage of GSE regulatory reform legislation. If Congress does not act, American taxpayers will continue to be exposed to the enormous risk that Fannie Mae and Freddie Mac pose to the housing market, the overall financial system, and the economy as a whole." (Office Of U.S. Senator John McCain, "McCain Statement On Co-Sponsorship Of The Federal Housing Enterprise Regulatory Reform Act Of 2005," Press Release, 5/26/06)

Sorry if the above seems chopped together. I took bits and pieces of it from different places I have seen this come up.

__________________
"No one believes more firmly than Comrade Napoleon that all animals are equal. He would be only too happy to let you make your decisions for yourselves. But sometimes you might make the wrong decisions, comrades, and then where should we be?"
- George Orwell Animal Farm

Good job hambirg. You should be an investigative reporter!

We have not had a "free market" system. They call it that but it is not a true free market.
The PPT and other "government" interferes and manages a lot of the market.

The regulations need to be placed on the Federal Reserve not the market. The market should be run by supply and demand. The Federal Reserve (which no one oversees...audits, etc) needs to be controlled.

The Federal Reserve (also known as "central bank" planning) controls the printing of money and interest rates. They have created a system of fiat money..nothings backs up our money any more.
The Congress needs to have the control not the Federal Reserve. We, the people do not elect anyone to the Federal Reserve.

What the Federal Reserve done today was just prolonging what is eventually going to happen. The system in a few years will collaspe. Once again they are just patching the system with a bandaid..not taking care of the root of the problem.


"If the American people ever allow private banks to control the issue of their money, first by inflation
and then by deflation, the banks and corporations that will grow up around them, will deprive the people of their property until their children will wake up homeless on the ontinent
their fathers conquered." --Thomas Jefferson

I think the SYSTEM is broke.

To put it into a nice little dumbed down analogy, this is how I see it:

Obama is offering us all yummy free pizza. Hell, who doesn't like free pizza? BUT his buddies over at the Freddie-Lehman pepperoni factory have been stealing the factory blind, instead of running it responsibly. Now they can't pay to maintain their delivery trucks and they are all broken down. Guess who gets to "buy" new ones? Lucky us!!! So that yummy Obama pizza isn't going to be free afterall. Now we, the pizza consumer, are going to have to pay. Of course, the guys over at the pepperoni factory get to keep all the money they "stole". Hell, they even bought Obama a new pizza oven. In the mean time, McCain seems to be the only guy that even remotely said, "Hey, we should watch those guys over at the pepperoni factory. Somebody is going to have to fix those trucks otherwise there is going to be a problem."

Is McCain superman? Will he be able to fix all this? Probably not. . .but he seems to be the only guy that recognizes that there is a problem with how things are done. Obama seems to want to work within the system that is now. And like I said before. . .I think the SYSTEM is broke.

__________________
"No one believes more firmly than Comrade Napoleon that all animals are equal. He would be only too happy to let you make your decisions for yourselves. But sometimes you might make the wrong decisions, comrades, and then where should we be?"
- George Orwell Animal Farm

Here is a little something I found very interesting . I did a little research to, and found this on the Miami herald site.


Aquiles Suarez, listed as an economic adviser to the McCain campaign in a July 2007 McCain press release, was formerly the director of government and industry relations for Fannie Mae. The Senate Lobbying Database says Suarez oversaw the lending giant's $47,510,000 lobbying campaign from 2003 to 2006.

And other current McCain campaign staffers were the lobbyists receiving shares of that money. According to the Senate Lobbying Database, the lobbying firm of Charlie Black, one of McCain's top aides, made at least $820,000 working for Freddie Mac from 1999 to 2004. The McCain campaign's vice-chair Wayne Berman and its congressional liaison John Green made $1.14 million working on behalf of Fannie Mae for lobbying firm Ogilvy Government Relations. Green made an additional $180,000 from Freddie Mac. Arther B. Culvahouse Jr., the VP vetter who helped John McCain select Sarah Palin, earned $80,000 from Fannie Mae in 2003 and 2004, while working for lobbying and law firm O'Melveny & Myers LLP. In addition, Politico reports that at least 20 McCain fundraisers have lobbied for Fannie Mae and Freddie Mac, pocketing at least $12.3 million over the last nine years.


For years McCain campaign manager Rick Davis was head of the Homeownership Alliance, a lobbying association that included Fannie Mae, Freddie Mac...."

I get so tired of hearing how the "rich" should have to pay to the poor. The majority of these people worked hard, kept their head out of the clouds and earned their money. (Yes, there are some who didn't go by the rules) Why should they be punished for suceeding while those who sat around waiting for the next hand out gets more?

If they think raising the capital gains tax is the answer they are so far from reality. Many of those affected will be the retirees wanting to downsize. This will only create another generation standing in the welfare line.! IMHO.

The majorty of this country needs a budget 101 class to teach them how to stay out of debt and learn to live without all the extras. We need to teach our children how to live in a cash world again. Credit has destroyed this country!

Could you post the link? I went to Miami Herald and searched Aquiles Suarez and nothing came up. TIA

__________________
"No one believes more firmly than Comrade Napoleon that all animals are equal. He would be only too happy to let you make your decisions for yourselves. But sometimes you might make the wrong decisions, comrades, and then where should we be?"
- George Orwell Animal Farm

Here are the true facts on Obamas Tax Plan. A new e-mail being circulated about Obama's tax proposals is almost entirely false.



FactCheck.org: Would Obama tax my profits if I sell my home? Would he tax my IRA? Would he tax my water?

Home Sales: The claim that Obama would impose a 28 percent tax on the profit from "all home sales" is false. Both Obama and McCain would continue to exempt the first $250,000 of gain from the sale of a primary residence ($500,000 for a married couple filing jointly) which results in zero tax on all but a very few home sales.

Capital Gains Rate: It's untrue that Obama is proposing a 28 percent capital gains tax rate. Obama said in an interview on CNBC that he favors raising the top rate on capital gains from its present 15 percent to 20 percent or more, but no higher than 28 percent. And as for a 28 percent rate, he added, "my guess would be it would be significantly lower than that." Furthermore, he has said only couples making $250,000 or more (or, his policy advisers tell us, singles making more than $200,000) would pay the higher capital gains rate. That means the large majority of persons who pay capital gains taxes would see no increase at all.

Isn't that the truth.

A very eye-opening opinion from Pat Buchanan

The Party's Over - Yahoo! News

"At home, propelled by tax cuts, war in Iraq and an explosion in social spending, surpluses vanished and deficits reappeared and began to rise. The dollar began to sink, and gold began to soar.

Yet, still, the promises of the politicians come. Barack Obama will give us national health insurance and tax cuts for all but that 2 percent of the nation that already carries 50 percent of the federal income tax load.

John McCain is going to cut taxes, expand the military, move NATO into Georgia and Ukraine, confront Russia and force Iran to stop enriching uranium or "bomb, bomb, bomb," with Joe Lieberman as wartime consigliere.

Who are we kidding?

What we are witnessing today is how empires end.

The Last Superpower is unable to defend its borders, protect its currency, win its wars or balance its budget. Medicare and Social Security are headed for the cliff with unfunded liabilities in the tens of trillions of dollars."

The rich don't need to pay the poor. The rich need to pay their share.

Besides, the poor just bailed out the rich.....

The problem with the tax system is the loop holes. Get rid of those, especially in big business, and we would not have so much of a problem.

It irritates me no-end, to have a big company's CEO CFO CEO, etc all get multi-million dollar bonuses and still show a loss???? What the heck.

Whatever is going to be done is not going to happen over night and probably not even in the next few years. We're in trouble folks. And soon the trickle down is going to start flowing...right into (or should I say out of) all our family's pocketbooks.

__________________
Mary

I agree with you to some extent. What's coming is going to be awful. I also think we're going to see bad times for a decade.

The only reason nobody is jumping out windows this time is that the Ceos all have million dollar parachutes.

__________________
Mary

No higher than 28 percent means some WILL Indeed be at 28%.

I found this link while looking into this:
Obama's Capital Gains Blunder - Capital Commerce (usnews.com)

I plan to look further into this person's statment.
"The Quadruple Whammy
The problem with Senator Obama isn't that he is going to raise a specific tax - is that he is going to raise ALL of them at once.

Income tax (per his statements and the most recent Democratic budget resolution) - marginal rates jumping for all brackets, with the highest brackets going to 36/39.6%

FICA - eliminating FICA cap for high earners, leading to an additional 12.4% tax on incomes above $102k or (if he used a doughnut hole approach), $200k. This is for a SOCIAL INSURANCE program - those people will be paying in enormous amounts but getting no additional benefit. Social Security will become a form of senior citizen welfare

Cap Gains - jumping from 15% to mid 20's

Dividend Income - jumping from 15% to, for higher earners, 39.6%

and

Corporate Taxes - the rate, at 25%, is already too high compared to other countries that win out over us in new industry, factories, etc. Economist say we should lower it. Obama will likely close exemptions and find ways to subtley increase it.."
I also think that any increase will hurt people. Many receive Capital Gains on investments they use for retirement. Everything I have read shows me that raising the rate will only hurt.

__________________
Doing the right thing isn't always the same as doing the easy thing.

Obama's Fannie Mae 'Connection'
"The McCain campaign is clearly exaggerating wildly in attempting to depict Franklin Raines as a close adviser to Obama on "housing and mortgage policy." If we are to believe Raines, he did have a couple of telephone conversations with someone in the Obama campaign. But that hardly makes him an adviser to the candidate himself -- and certainly not in the way depicted in the McCain video release"
Obama's Fannie Mae 'Connection' - Fact Checker


"We give McCain some credit for weighing in on problems surrounding Fannie Mae, even though he got involved after a comprehensive government report issued a loud alarm to anyone watching. However, his attempts to depict those efforts as some sort of early warning that could have lessened the current credit crisis just don't wash. All McCain was talking about then was the potential fallout of accounting troubles in Fannie Mae and Freddie Mac. He didn't say anything about a freewheeling climate among creditors that had major financial institutions becoming badly leveraged on bad loans. We rule his claim Barely True. "
PolitiFact | McCain's 'warning' on Fannie & Freddie


"Corporations cannot give to candidates so the center's list adds up contributions from Fannie and Freddie employees and their families. Obama has received a lot of money during his presidential campaign, though, and Fannie and Freddie don't make his list of top 20 companies. (The top three companies with employees donating to Obama are Goldman Sachs, University of California, and Citigroup, according to the center.)
The New York Times looked at contributions from Fannie and Freddie's boards of directors and lobbyists, who are technically not employees. That analysis found Fannie and Freddie-related contributors gave $116,000 to John McCain and his related committees, compared with $16,000 to Obama and his related committees.
Nevertheless, the center's information does reflect which candidates are getting the most money from Fannie and Freddie employees. There are other ways to parse the campaign finance numbers, but McCain is correct when he says Obama got the second-most money on a list compiled by a respected, nonpartisan campaign finance watchdog. He would have been more accurate if he would have noted that he was talking about Fannie and Freddie employees. We rate his statement Mostly True."
PolitiFact | Their employees have donated

Again. . .look at the report. Looks like most everybody was getting SOME money from Fannie and Freddie, but Obama was number two after his short time in the Senate.
OpenSecrets | Update: Fannie Mae and Freddie Mac Invest in Lawmakers - Capital Eye

Do you want to address any of the Jim Johnson stuff?

__________________
"No one believes more firmly than Comrade Napoleon that all animals are equal. He would be only too happy to let you make your decisions for yourselves. But sometimes you might make the wrong decisions, comrades, and then where should we be?"
- George Orwell Animal Farm

What Jim Johnson stuff? What of the stuff that you posted is a problem for you?

If you have a problem with people running businesses into the ground and still getting golden parachutes, you might want to look up a woman named Carly Fiorina, who make a nice name for herself this week in a rather ironic way discussing how none of the candidates could run a major corporation. Apparently she couldn't either.

__________________

Reading is Fundamental.

What part of that don't you get?

__________________
"No one believes more firmly than Comrade Napoleon that all animals are equal. He would be only too happy to let you make your decisions for yourselves. But sometimes you might make the wrong decisions, comrades, and then where should we be?"
- George Orwell Animal Farm

I GET all of it. I asked what part YOU have a problem with.

Perhaps you don't understand the question?

__________________

Reading is Fundamental.

I was trying to look up something else, but, found this from March 2008.

I don't know anything about who wrote this, so don't know about the bias or anything.


Media Matters - CNN's Todd claimed Dem contributions from securities and investment industry "dwarf" McCain's -- but a greater proportion of McCain's donations came from Wall Street

__________________
Doing the right thing isn't always the same as doing the easy thing.

Is there a part that you DON'T have a problem with??

__________________
"No one believes more firmly than Comrade Napoleon that all animals are equal. He would be only too happy to let you make your decisions for yourselves. But sometimes you might make the wrong decisions, comrades, and then where should we be?"
- George Orwell Animal Farm

I understand what he's saying, but percentages can be deceptive. The fact of the matter is that gave Obama $3.5 million more than they gave McCain. . .or roughly 150% more of what they gave McCain (see how % can be deceptive?)

Ad that to the fact that Jim Johnson, a man who bilked Fannie out of millions of dollars, is working for Obama's campaign. Doesn't look good IMHO.

__________________
"No one believes more firmly than Comrade Napoleon that all animals are equal. He would be only too happy to let you make your decisions for yourselves. But sometimes you might make the wrong decisions, comrades, and then where should we be?"
- George Orwell Animal Farm

I don't have a problem with any of it. I find it quite amusing that it seems to distress you greatly, but you can't answer a straight question asking exactly what upsets you.

Hmmm . . . .

__________________

Reading is Fundamental.

"Bilked" What's your basis for that?

Working for Obama? What's your basis for that? To the best of my knowledge, he stepped down from a narrow part of the campaign, for which he was volunteering, three months ago. Do you have information to the contrary?

Perhaps you didn't understand the piece and that's why you can't answer my question about why it bothers you so much. Perhaps you, like Sarah Palin, don't understand that Fannie Mae was a private corporation until Bush took it over a week ago.

__________________

Reading is Fundamental.

I would consider this "bilking":

Johnson Earned Large Bonuses At Fannie Mae Due To An Accounting Manipulation:

In 1998, Fannie Mae's Earnings Were Manipulated, Which Resulted In "Maximum Payouts" To Executives Including CEO Jim Johnson. "As CEO of Fannie Mae, Johnson, a former chief of staff to Vice President Walter F. Mondale and chairman of the board of the Kennedy Center, was the beneficiary of accounting in which Fannie Mae's earnings were manipulated so that executives could earn larger bonuses. The accounting manipulation for 1998 resulted in the maximum payouts to Fannie Mae's senior executives -- $1.9 million in Johnson's case -- when the company's performance that year would have otherwise resulted in no bonuses at all, according to reports in 2004 and 2006 by the Office of Federal Housing Enterprise Oversight." (Jonathan Weisman and David S. Hilzenrath, "Obama 's Choice Of Insider Draws Fire," The Washington Post, 6/11/08)

* The Manipulation Resulted In Johnson Receiving A Bonus Of Over $1.9 Million When He Otherwise Would Not Have Earned A Bonus. "An Office of Federal Housing Enterprise Oversight report in September accused the company of improperly deferring $200 million of estimated expenses in 1998, which allowed management to receive full annual bonuses. Had the expenses been recorded that year, no bonuses would have been paid, the report said. Fannie Mae reported paying bonuses in 1998 to Johnson, who received $1.932 million; Raines, who then was chairman-designate, $1.11 million; Chief Operating Officer Lawrence M. Small, $1.108 million; Vice Chairman Jamie S. Gorelick, a former deputy attorney general, $779,625; Chief Financial Officer J. Timothy Howard, $493,750; and Robert J. Levin, who was executive vice president for housing and community development, $493,750." (Albert B. Crenshaw, "High Pay At Fannie Mae For The Well-Connected," The Washington Post, 12/23/04)

Johnson Also Received Fees And Compensation From Fannie Mae Worth $3.3 Million Between 2001 And 2006. "Johnson left the company before it was swept up in an accounting scandal that tarred its reputation, but even during the years of scandal, Johnson was reaping hundreds of thousands of dollars in consulting fees and other compensation, $3.3 million in all between 2001 and 2006." (Jonathan Weisman and David S. Hilzenrath, "Obama's Choice Of Insider Draws Fire," The Washington Post, 6/11/08)

Yes, Johnson stepped down about three months ago from the Obama campaign. He is still an important bundler for Obama.

On May 22, 2008, Democratic Party officials confidentially divulged that Obama had asked Johnson "to lead the process" for selecting Obama's running mate.[4] On June 4, 2008, Obama announced the formation of a three person committee to vet vice presidential candidates, including Johnson.[5] However, Johnson soon became a source of controversy when it was reported that he had received loans directly from Angelo Mozilo, the CEO of Countrywide Financial, a company implicated in the U.S. subprime mortgage lending crisis.[6] Although he was not accused of any wrongdoing and was initially defended by Obama on the grounds that he was simply an unpaid volunteer, Johnson announced he would step down from the vice-presidential vetting position on June 11, 2008 in order to avoid being a distraction to Obama's campaign. [7]

Johnson is a strong Obama supporter who has personally donated the maximum $4,600 to his 2008 Presidential campaign, as well as $1,000 to Obama's Senate campaign in 2004.[8] In addition to personal donations, Johnson is a bundler for the Obama campaign, raising between $200,000 and $500,000.[9]

James A. Johnson (businessman - Wikipedia, the free encyclopedia)

I don't know what makes you say Fannie Mae is a private corporation? It is in fact a quasi-private enterprise. . .a GSE.

Despite being a public company, Fannie Mae has remained a quasi-government agency subject to federal oversight and regulation.

Burnham's Beat: Fannie Mae's Golden Goose: A Lesson In Moral Hazard

That article is very interesting. . .maybe you should read it.

__________________
"No one believes more firmly than Comrade Napoleon that all animals are equal. He would be only too happy to let you make your decisions for yourselves. But sometimes you might make the wrong decisions, comrades, and then where should we be?"
- George Orwell Animal Farm

Did I say that you said anything about Raines? No, I didn't. No need to get your panties in a knot.

I guess I have to spell this out for you. This includes contributions from EMPLOYEES of Fannie Mae and Freddie Mac that contributed to Obama. Employees that represent the AMERICAN PEOPLE not a corporation. It's ridiculous to conclude just because I work for a certain company and contribute my own money to a political campaign it means the donations are coming from the company I work for...understand.

Do you mean that...
"It's true that Obama selected Jim Johnson, the chairman and CEO of Fannie Mae from 1991 to 1998, to advise him on his vice presidential choice. But Johnson resigned the unpaid position on June 11, 2008, months before veep nominee Joe Biden was chosen, amid criticism of compensation and favorable mortgage terms Johnson received"
PolitiFact | Their employees have donated

So what.

..........

__________________
"No one believes more firmly than Comrade Napoleon that all animals are equal. He would be only too happy to let you make your decisions for yourselves. But sometimes you might make the wrong decisions, comrades, and then where should we be?"
- George Orwell Animal Farm

Look up Jamie Gorelick while you are researching, many MANY connections to Mr. Clinton! She came out tens of MILLIONS ahead in this little game, Her reward for her role in the 9-11 commission maybe? Now she is with the law firm who is representing fannie mae, oh the tangled web that woman weaves!

No kidding! So how do I get a job like hers???

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"No one believes more firmly than Comrade Napoleon that all animals are equal. He would be only too happy to let you make your decisions for yourselves. But sometimes you might make the wrong decisions, comrades, and then where should we be?"
- George Orwell Animal Farm