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2008-06-12 Home Front: Politix

Obama vice presidential search chief quits

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Posted by Fred 2008-06-12 00:00|| || Front Page|| [11133 views ] Top

#1 IIRC, FOX NEWS + MSNBC > Jimbo J. was involved in alleged FINANCIAL = $$$ LOAN IMPROPRIETIES vv employer [NOT Barack]???

Posted by JosephMendiola 2008-06-12 00:22|| 2008-06-12 00:22|| Front Page Top

#2 JosephM, if I recall correctly, when he headed up Fannie Mae, Mr. Johnson was getting extra-special interest rates and other loan goodies approved for him by the loan approval officer at either Fannie Mae itself or one of the key feeder banks associated with it.

Posted by trailing wife ">trailing wife 2008-06-12 06:45|| 2008-06-12 06:45|| Front Page Top

#3 WSJ reports

Mr. Johnson, who led mortgage buyer Fannie Mae from 1991 to 1998, received more than $5 million in loans from Countrywide that were arranged outside its normal underwriting process.

Mr. Johnson received loans from Countrywide on at least six properties between 1998 and 2007, some at lower-than-average interest rates. His debts to Countrywide as of mid-2007 exceeded $5 million.

For one previously undisclosed loan last year for a Montana real-estate project, Countrywide overrode its internal limits on loan size, amount of allowable debt and number of loans to a single borrower, the lender's loan records show.

Anyone associated with Fannie Mae is a presumptive bad man until proven otherwise. If any private company acted the way Fannie, Freddie and Sallie do, they'd be pilloried in the press and subject to SEC investigation and prosecution.

Posted by Nimble Spemble 2008-06-12 07:27|| 2008-06-12 07:27|| Front Page Top

#4 The ability to surround oneself with a team of competent and qualified individuals is fundamental to any real leader, let alone the senior office of President of the United States today. Obama repeatedly shows poor grades in this department and its not an office in which 'efforts' counts as much as 'results'.

Posted by Procopius2k 2008-06-12 08:05|| 2008-06-12 08:05|| Front Page Top

#5 Mr. Johnson, who led mortgage buyer Fannie Mae from 1991 to 1998, received more than $5 million in loans from Countrywide that were arranged outside its normal underwriting process.

Mr. Johnson received loans from Countrywide on at least six properties between 1998 and 2007, some at lower-than-average interest rates. His debts to Countrywide as of mid-2007 exceeded $5 million.

Guess someone's having some issues paying down principal, heh...

Posted by Raj 2008-06-12 08:28|| 2008-06-12 08:28|| Front Page Top

#6 The ability to surround oneself with a team of competent and qualified individuals is fundamental to any real leader, let alone the senior office of President of the United States today.

Chicago politics. You surround yourself with the corrupt people that have dirt on others so they can't throw it at you without the tosser getting real dirty.
Only problem... Obama forgot he ain't in Chicago anymore.

Posted by DarthVader">DarthVader 2008-06-12 09:36|| 2008-06-12 09:36|| Front Page Top

#7 Get on -> under the bus!

Posted by swksvolFF 2008-06-12 10:55|| 2008-06-12 10:55|| Front Page Top

#8 He'll be back in the campaign three months from now.

Posted by Pappy 2008-06-12 11:26|| 2008-06-12 11:26|| Front Page Top

#9 Get on -> under the bus!

We're all bozos under this bus.

Posted by xbalanke 2008-06-12 13:52|| 2008-06-12 13:52|| Front Page Top

#10 He is being referred to as "Obama's Johnson."

Posted by Anonymoose 2008-06-12 17:39|| 2008-06-12 17:39|| Front Page Top

#11 Question, what lending institution holds Obama's mortgage?

Posted by Besoeker 2008-06-12 21:59|| 2008-06-12 21:59|| Front Page Top

23:48 RD
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