Fannie And Freddie Campaign Finance Facts
McCain unveiled a new attack today slamming Obama for taking campaign contributions from folks who worked for Fannie and Freddie.
What he doesn’t mention is his own time at the trough.
The total listed for Obama is $126,349 â€” a tiny fraction of the approximately $390 million his campaign has raised, according to the Center for Responsive Politics. The list shows McCain has received a total of $21,550 from Fannie and Freddie employees. The list includes donations of at least $200 from those who receive paychecks from Fannie and Freddie. It also includes donations from political action committees â€” pooled contributions from employees. Obama decided early in his presidential run not to accept PAC contributions, but the Center for Responsive Politics’ list includes all contributions for members of Congress dating back to 1989 â€” including Obama and McCain’s Senate campaigns.
The New York Times has published a separate list looking at contributions from “directors, officers, and lobbyists for Fannie Mae and Freddie Mac” for the 2008 campaign cycle. That list â€” using figures from the Federal Election Commission â€” shows McCain receiving $169,000, while Obama received only $16,000.
Explaining the difference, the Center for Responsive Politics said on its Web site that it does not include members of the board of directors because they could serve on boards of various companies. Their contributions are listed along with other employees of the companies they work for. And the center says lobbyists usually represent multiple clients as well, so their contributions are listed under their lobbying firms â€” except in-house lobbyists, who are included in the center’s list.
Long story short, both Obama and McCain have received campaign donations from people involved with the mortgage giants. So if McCain wants to call Obama out for it that’s fine, but like many of his recent attacks it’s bound to backfire because he’s playing fast and loose with the facts.