Iriemon

Obama’s Connection to Raines | The FactCheck Wire

snopes.com: Obama's Fannie Mae Economic Advisors

Iriemon

The agency responsible for oversight of Fannie and Freddie is the Office of Federal Housing Enterprise Oversight (OFHEO):

OFHEO's mission is to promote housing and a strong national housing finance system by ensuring the safety and soundness of Fannie Mae (Federal National Mortgage Association) and Freddie Mac (Federal Home Loan Mortgage Corporation).

How is oversight of Fannie Mae and Freddie Mac divided between OFHEO and HUD? The Federal Housing Enterprises Financial Safety and Soundness Act of 1992 created a regulatory oversight structure for the housing government-sponsored enterprises of Fannie Mae and Freddie Mac. The regulatory oversight was divided to address two functions – their financial safety and soundness and their affordable housing mission. The financial safety and soundness regulation is vested in the Office of Federal Housing Enterprise Oversight (OFHEO). OFHEO implements, monitors and enforces capital standards for Freddie Mac and Fannie Mae.

Fannie Mae and Freddie Mac's loan limits adjust every year in accordance with the results -- as determined by Office of Federal Housing Enterprise Oversight (OFHEO)

Office of Federal Housing Enterprise Oversight

The Director of the OFHEO:

James B. Lockhart, III, is the Director (CEO) and Chairman of the Oversight Board of the Federal Housing Finance Agency, regulator of Fannie Mae, Freddie Mac and the 12 Federal Home Loan Banks. ... He was nominated by President Bush to that position and confirmed by the Senate in June 2006.

The agency that oversees the OFHEO:

The U.S. Department of Housing and Urban Development (HUD) carries the oversight responsibilities for the housing mission of the GSEs. Effective January 1, 2005, HUD established new and increasing affordable housing goal levels for the GSEs for the years 2005 through 2008. These goals require that a certain percentage of the mortgages purchased by Fannie Mae and Freddie Mac support financing for housing low – and moderate – income families.

Office of Federal Housing Enterprise Oversight

Prior to HERA, the Secretary of HUD was the mission regulator for the GSEs, with oversight authority to ensure that both GSEs complied with the public purposes set forth in their charters. HUD had general regulatory authority for oversight responsibilities, which included establishing housing goals; monitoring and enforcing compliance with housing goals; new program approval; collecting loan-level data from the GSEs on their mortgage purchase activities; making available to the public a database on non-proprietary GSE loan purchase data; and ensuring GSE compliance with fair lending requirements. An independent office of HUD, the Office of Federal Housing Enterprise Oversight (OFHEO) regulated the GSEs for safety and soundness by ensuring that they were adequately capitalized and operating their businesses in a financially sound manner.

HUD's Regulation of Government-Sponsored Enterprises

Secretary of HUD: Nominated by President Bush, affirmed by the Senate:

Jan 21, 2001-Mar 31 04: Mel Martinez
Mar. 31, 2004 - April 18, 2008: Alphonso Jackson

talloulou

So let me get this straight. The facts are that Obama and Obama's campaign have called and/or contacted Raines on multiple occasions regarding economic issues yet it's unfair and non-factual to state Raines is one of Obama's economic advisers????


BWAHAHAHAHAHAAHAHAHAAHAHA

I'm sure the Obama camp realizes it isn't in their best interest to list Raines as an economic adviser anymore. So now they are denying this relationship.

But the facts show that Obama has gone to him for economic advice!!!!!!

BmanMcfly

Who is more to blame?? The Federal Reserve.

The federal reserve and the families that run this PRIVATE CORPORATION have been responsible for every economic problem since its inception in 1913.... BTW, are you aware that for every 1$ in currency in circulation there are 3$+ interest worth of debt??

This is a grand global ponzi scheme that is now in it's last stages so that the ruling elites in the US can take everything of value and jump ship to Dubai or China.

MSgt

Mmmmmmmm, I don't know about that. London or the Caribbean maybe, but Dubai or China?

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MSgt
Semper Fidelis
USMC

Iriemon

The McCain-Palin claim relies on a quote from the Post’s Anita Huslin, who profiled Raines for the newspaper in July. In the article, Huslin wrote that Raines had “taken calls from Barack Obama’s presidential campaign seeking his advice on mortgage and housing policy matters.” But does that make him an adviser? Dobbs says that when he questioned Huslin about the quote, she explained that during a photo shoot for the article, she inquired about Raines’ role with the campaign. Huslin told Dobbs, “He said that he had gotten a couple of calls from the Obama campaign. I asked him about what, and he said ‘oh, general housing, economy issues.’ (’Not mortgage/foreclosure meltdown or Fannie-specific,’ I asked, and he said ‘no.’)”


The point you find so hilarious is that because a couple phone calls were made, that somehow makes Raines Chief Economic Advisor to the Obama Campaign?

I guess that is kind of funny.

talloulou

Oh now the bar has moved from adviser to CHIEF ADVISER?

Come on. The Washington Post has referred to Raines as an adviser to Obama repeatedly without anyone, including Obama, saying boo about it. Only now that it's clear Obama must distance himself from Raines people, including the Post, are back tracking and jumping through hopes to explain away the relationship.

Yes Obama called Raines for advice on the economy.

No Raines was never an economic adviser.

Give me a freaking break.

Obviously the corrupt and loathed Raines CANNOT be Obama's chief economic adviser. Most likely Obama doesn't phone him anymore.

Just like obviously the REV WRIGHT can't be his chief spiritual adviser anymore. Obama also doesn't phone him up anymore.

Obama gets credit for the distancing but he doesn't get to rewrite the past. He did bend Raines ear for economic advice. Raines is a loathed corrupt character. He did sit in Rev's hateful church. Another loathed character.

Deal with it.

BmanMcfly

You're right about that...
London - Since the group involved are all related OR affiliated with the British royal family
Carribean - Assuming they just wanted to go to a beach and chill... no, the thing is that the families controlling the fed are rich beyond the need or care for material wealth... what is to interest a person that has money so far beyond his needs?? POWER!! Not a vacation, but CONTROL of humanity.

Dubai - Because Dubai is set to become the economic capital of the world. I know Bush (BIG oil family) and Cheney (Blackwater international is based in Dubai) at the least will have to go here since anywhere else in the world they'd be likely to be tried for their crimes.

China - Because China has a highly controlled population where their style of manipulation will be more easily received by a more passively accepting population. China at the very least is set to become the world manufacturing capital if not it has the military capacity to become the world police...

Look, I'm not a psychic, but I can still see the general path we are headed to... probly some form of 'neo-serfdom' These are the most likely places where elites will scramble.

(When I say elites, I mean a) family fortune of 1Million$ + (100+ years ago)
b) CEO's of multi-BILLION dollar corporations
c) High-profile / bought off politicians
d) Rockefeller / Rothschild dynasties (These 2 families control MORE THAN HALF of the worlds ressources either directly or through their business dealings))

MSgt

.....But it's really hot in Dubai and China won't let you check out porn sites.

__________________

MSgt
Semper Fidelis
USMC

DeeJayH

gotta give Barack props
instead of blemishing himself by having them on the payroll where they would be a liability
they can instead coach him now and collect the massive payday after he is elected
kudos, well played sir

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