As GOP attacks mount on the issue of Senator Obama’s ties to Political Action Committees and Lobbyists, Obama’s campaign has undergone little scrutiny on his long-standing ties to the financial and banking community. In Obama’s speeches across the country he has repeatedly criticized the Bush administration for allowing “evil” subprime mortgage lenders and investment banks to lead this county into our current mortgage meltdown. Obama’s rhetoric on the mortgage crisis has been pointed and blunt, as stated on his own campaign website, “Obama will crack down on fraudulent brokers and lenders…Obama has been closely monitoring the subprime mortgage situation for years, and introduced comprehensive legislation over a year ago to fight mortgage fraud and protect consumers against abusive lending practices”.
Throughout the campaign season Obama has attacked Wall Street’s financial sector and ran a campaign based largely upon his “good judgement”. The problem with Obama’s rhetoric rests in the fact that tucked away in his database of 1.5 million donors are the approximately 130,000 power brokers that have funded nearly 60% of his campaign. Included in this list are the more than 350 campaign bundlers who have accounted for over $78 million in contributions. Read the rest of this entry »
