Ex-Fannie Mae CEO Franklin Raines is NOT an Obama Advisor (but McCain Does Have Real Connections to the Firm).

Via Lindsey Wolf
on Oct 1, 2008
get elephant's newsletter

I received an email forward today, subject line: “3 Men Who Brought Down Wall Street.” It came from someone whose political opinions differ from mine so let’s just say sometimes I delete these without even reading, and at other times, open them to take a look to see what’s flying around out there. This time I’m glad I did the latter. The email outlined three former Fannie Mae executives, Franklin Raines, Tim Howard, and Jim Johnson and their various misdeeds. It closed with a “Where Are They Now?” and stated that Mr. Raines works for the Obama Campaign as “Chief Economic Advisor”; Mr. Howard, also as a Chief Economic Advisor to Obama and, Mr. Johnson was “hired as a Senior Obama Finance Advisor and was selected to run Obama’s Vice Presidential Search Committee.” What? I had to look into this.

Here’s what I found. This email seems to be a result of remarks Mr. McCain made at a speech in Green Bay, Wisconsin on September 19th, and a resulting newly released television ad focusing on Raines. Here’s what I found however. No connection between Howard and the Obama campaign at all. To be fair, Mr. Johnson did work on Obama’s Vice Presidential candidate selection committee, but resigned after a month after questions were raised regarding favoritism he may have received from Countrywide Financial Corp. He was in no way a “Senior Obama Finance Advisor.”

Regarding Franklin Raines, the McCain campaign is going on flimsy evidence of a few phone calls that may have occurred between Raines and the Obama campaign on “general housing, economy issues.” Again, he is not a “Chief Economic Advisor” to Senator Obama.

This is why people like me have a dislike for politics, we are being lied to. Well, as this Washington Monthly writer points out, these ads may just backfire for the McCain campaign, as they could also remind people of their candidate’s own (real) connections to Fannie Mae and Freddie Mac.

This is one to watch over the next few weeks, and we’ll see if sadly, a racial aspect is drawn into this as well and remember to always research those crazy email forwards!


About Lindsey Wolf


10 Responses to “Ex-Fannie Mae CEO Franklin Raines is NOT an Obama Advisor (but McCain Does Have Real Connections to the Firm).”

  1. admin says:

    Holy cow, great post LIndsey, 300 views in one day, you’re number four most popular on our site and rising.

  2. Eileen Smith says:


  3. Patty says:

    I too investigated this e-mail but I found that almost everything said was TRUE. People need to go into these e-mails with an open mind. I am a moderate independent and am still doing a lot of research trying to decide who will get my vote

  4. QuoVadisAnima says:

    “This is why people like me have a dislike for politics, we are being lied to.”

    Interesting that you state this & then go on to cite an article from a biased news source. Truth is not something you read that agrees with what you already believe…

  5. Lindsey says:

    Thanks for the comments and interesting discussion. It was my honest effort to find some answers to this email forward, as what I found most misleading was the use of titles of “Advisor” when I found no record of this formal relationship with any of these individuals. I agree with you QuoVadisAnima that you have to be careful with biased news sources, and in truth, the sources I linked/cited here, I had no real familiarity with to know if they were left or right leaning. In summary I was hoping to just point out that we all need to do our own research, these were some of my findings, but you may have found your own. I feel that we’re all making real advances towards “active citizenship.” Thanks!

  6. Erin says:

    So, just because you LOOKED INTO this, YOUR sources are the ones telling the truth? Where did you do your fact checking? MSNBC or another FAR LEFT MEDIA source?

    Too funny! Maybe you can explain away Obama’s affiliations with Bill Ayers (1995 in his home), and the racist and anti-American Rev. Wright? And there are SO many more!!!!

    But, it’s obvious you are another American in an OBAMA-TRANCE.

    Wake up.

  7. Chuck says:

    Does it matter in what capacity he was involved with Obama’s campaign. The “right” does not have to prove that he is senior. Wrong or right, they have raised doubt in Obama’s judgement regarding associations and loyalties. Raines is not a man that anyone wants to be involved with, given this meltdown. It only adds to the fire that Raines pulled himself (if that is what happened) from involvement. I am voting for Obama, but I am troubled by his lack of “fire” in going after the greedy individuals complicit in this crisis. It does not help my stomach knowing that some may be involved with Obama (whether it be an advisor or money contributor)… or any politician for that matter. Thankfully, the finish line is close.

  8. Incognito says:

    As if Obama isn’t above lying. He lied about his affiliation with Wright. I don’t trust a thing that comes out of his mouth.

  9. Nichelle Tyl says:

    Dank voor de informatie. Dat zijn wel leuke liedjes.

  10. Dating Tips says:

    I think this is a genuine and wonderful post.Quite appreciate it! Awesome.