It's Getting Crowded Under Obama's Bus
By Rick Moran
On Tuesday, Barack Obama faced the glare of the cameras and tried to deal with what was rapidly becoming one of those "distractions" he so despises.
It turns out that the man he chose to head up the steering committee to help him choose a vice president, Jim Johnson, had a past that was making Obama out to be a hypocrite on the sub-prime mortgage crisis. After Obama skewered John McCain for his connections with sub-prime lenders, it appears that Mr. Johnson made McCain's connections look positively innocent by comparison.
Johnson, Fannie Mae chief from 1991 through 1998, received more than $7 million in real estate loans from a program open only to "friends of Angelo." The "Angelo" in question is none other than Angelo Mozilo, CEO of Countrywide Financial Corporation. Obama, who has heavily criticized Mozilo for accepting hefty bonuses despite the sub-prime crisis, evidently didn't vet Mr. Johnson thoroughly and failed to discover the sweetheart connection.
It should also be noted that according to the Chicago Tribune, the practitioner of "new politics" accepted $1.9 million from sub prime lenders, which only goes to show that when it comes to a decision between engaging in the "new politics" and old fashioned money grubbing, "new politics" gets the shaft.
The revelations about Johnson led to an incredible exchange with ABC News reporter Sunlen Miller, who grilled Obama on why the information hadn't been discovered by the campaign before he hired him. The ensuing explanation by Obama is a jaw dropper.