http://www.opensecrets.org/news/2008/07/top-senate-recipients-of-fanni.html

Fannie Mae and Freddie Mac have also strategically given more contributions to lawmakers currently sitting on committees that primarily regulate their industry. Fifteen of the 25 lawmakers who have received the most from the two companies combined since the 1990 election sit on either the House Financial Services Committee; the Senate Banking, Housing & Urban Affairs Committee; or the Senate Finance Committee. The others have seats on the powerful Appropriations or Ways & Means committees, are members of the congressional leadership or have run for president. Sen. Chris Dodd (D-Conn.), chairman of the Senate banking committee, has received the most from Fannie and Freddie's PACs and employees ($133,900 since 1989). Rep. Paul Kanjorski (D-Pa.) has received $65,500. Kanjorski chairs the House Financial Services Subcommittee on Capital Markets, Insurance and Government-Sponsored Enterprises, and Freddie Mac and Fannie Mae are government-sponsored enterprises, or GSEs.

Top Recipients of Fannie Mae and Freddie Mac
Campaign Contributions, 1989-2008
Name

Office

Party/State

Total

1. Dodd, Christopher J
S
D-CT
$133,900

2. Kerry, John
S
D-MA
$111,000

3. Obama, Barack
S
D-IL
$105,849

4. Clinton, Hillary
S
D-NY
$75,550

5. Kanjorski, Paul E
H
D-PA
$65,500

6. Bennett, Robert F
S
R-UT
$61,499

7. Johnson, Tim
S
D-SD
$61,000

8. Conrad, Kent
S
D-ND
$58,991

9. Davis, Tom
H
R-VA
$55,499

10. Bond, Christopher S 'Kit'
S
R-MO
$55,400

11. Bachus, Spencer
H
R-AL
$55,300

12. Shelby, Richard C
S
R-AL
$55,000

13. Emanuel, Rahm
H
D-IL
$51,750

14. Reed, Jack
S
D-RI
$50,750

15. Carper, Tom
S
D-DE
$44,389

16. Frank, Barney
H
D-MA
$40,100

17. Maloney, Carolyn B
H
D-NY
$38,750

18. Bean, Melissa
H
D-IL
$37,249

19. Blunt, Roy
H
R-MO
$36,500

20. Pryce, Deborah
H
R-OH
$34,750

21. Miller, Gary
H
R-CA
$33,000

22. Pelosi, Nancy
H
D-CA
$32,750

23. Reynolds, Tom
H
R-NY
$32,700

24. Hoyer, Steny H
H
D-MD
$30,500

25. Hooley, Darlene
H
D-OR
$28,750

On September 9, 2008, CNBC’s popular financial show “Squawk Box Europe” interviewed Jim Rogers (CEO of Rogers Holding) on his view of the government takeover of Fannie and Freddie:

“You can see that this is welfare for the rich. This is socialism for the rich. It’s bailing out the financiers, the banks, the Wall Streeters... This is outrageous. Who are these people who are taking our money and doing this and ruining America?"

Who, indeed!

We just talked about this in history class today. Everyone's in debt, why not do what the Romans did and just cancel all of it? It would make the world a happier (and less in debt of course).

it seems to be easier said than done....

Well, it's sure as hell not the shareholders! Fortunately, I was a bond holder this time. I don't consider myself rich, but I'm a lot better off now that the gubmint has taken over.

__________________
" We have nothing to fear but the main stream media itself . . . ."- Adapted from Franklin D Roosevelt for the 21st century

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