GLENN: Here's something from November 2005 from Mr. We the People, Barack Obama. "I went to Columbia University and they didn't have affordable housing." You went to Columbia University and you're talking to me about affordable housing. How about affordable education, Barack. "I went to Columbia University and they didn't have enough affordable housing. So I lived in about eight different places during the time that I was there. It's not just good enough that the real estate market is prospering for some, but everybody has to be able to have affordable housing. We've got to make sure that our streets are safe, not just in those areas where the wealthy live but all through the City of New York."
So he was talking about having affordable housing for the real estate market to be able to include everyone. That, my friend, is the business. Chairman and CEO has made affordable housing a priority for Freddie Mac. This is let's see. Freddie Mac will redesign this is the CEO of Freddie Mac: Freddie Mac will redesign an A minus mortgage to lift more families out of the subprime market to create a mortgage product to allow for lower down payments. Growth in business will come from serving previously underserved communities. This is from November 2004. Freddie has seen improved credit performances and declines in single family credit enhanced 90 day delinquencies and total credit losses.
These people intentionally set this up, not for the crash. They intentionally set it up for their own political purposes. Freddie Mac and Fannie Mae, these are political organizations. Everybody who's anybody in congress has a friend that works at Freddie Mac. It is the golden parachute. You get all of the perks of being able to have, you know, the government benefits, plus you have the private sector bonuses, bonuses that they didn't earn, bonuses that were paid on funny numbers. And when the expectations weren't met, it didn't matter. The bonuses had already been paid. All of them are involved. All of them are involved.
They say, you know, Chris Dodd now is saying that he wants oversight. "Well, where is the oversight? I want more information." You have more information. By the way, the number one contributor to Chris Dodd, the number one contributor from I'm sorry. The number one senator receiving Fannie Mae and Freddie Mac money is Chris Dodd. Between '89 and 2008 Chris Dodd got how much, Stu?
STU: I don't have the number in front of me. I can get it for you, though.
GLENN: Do you have the next senator in line by any chance?
STU: Second place?
GLENN: Yeah, who's second place?
STU: Between 1989 and 2008? That's, you know, a 20 year period?
GLENN: Yeah, in the 20 year period. I'm not talking just one year. I'm talking 28 year period, you have Chris Dodd being number one.
STU: Yeah, Dodd is number one on that list, uh huh. And then there's a second place senator as well.
GLENN: But I'm talking about '89 to 2008.
STU: Right, it's not I just want to make sure you want a short period of time.
GLENN: I don't just want a snapshot. I want somebody it's really unreasonable to say, "Oh, well, in that one year, maybe something was going on in that one year. Let's look at the whole number."
STU: Right. Like you don't want the donations from Fannie and Freddie just from say a big speech, a convention in 2004, correct? Because that would be ridiculous. You want to include 15 years before a great speech in 2004 to get the number of who was the number one.
STU: That would be Barack Obama.
GLENN: Barack Obama, number two. Fannie Mae and Freddie Mac gave the most to Christopher Dodd, who needs more information, by the way, and the number two was Barack Obama? Wasn't he just in this I mean, didn't he just get into national politics? How did he catch up? How did he
STU: He's hey, he's actually three quarters of the way there. In only three years, he did three quarters of the work. This is the kind of guy we need leading the country. He did three quarters of the amount of work that
GLENN: Christopher Dodd took 30 years to do or 20 years to do. That's not bad.
STU: In three years.
GLENN: In three years, that's fantastic. What was Chris Dodd doing? He was wasting 17 years just sitting around on his hands. We need a guy who can get the job done. Where is John McCain on that list?
STU: John McCain, let me just search for the name here because it's not near the top. Let's see. Oh, here we go. That's let's see. Well, let me just count.
GLENN: Just count.
STU: One, two, three, four, five, six, seven, eight, nine, ten, eleven, twelve, thirteen, fourteen because he was there the whole time because he probably has a lot.
GLENN: Well, he was there longer than Chris Dodd.
STU: He was there the entire (counting). Hold on just one second. I've got to scroll down
GLENN: This is senators?
STU: No, this is all lawmakers, Glenn.
GLENN: Can you just give me a general number? Maybe just like
STU: Talk about, what did you do last night? Did you watch any television?
GLENN: No, I didn't watch any television.
STU: Did you see that new show "Hole in the Wall? It's just where they jump through a hole and it's ridiculous.
GLENN: Did you see Fringe?
STU: I downloaded it on your recommendation.
GLENN: When did you recommend it to me?
STU: I watched it.
GLENN: It's really good. I don't want to wreck it for you.
STU: Somewhere around 70, I'd say.
GLENN: Really? You just stopped counting?
STU: I kind of lost count. But let's just put it it was $21,000.
GLENN: $21,000? And how much did Barack Obama get?
STU: Six times that amount. But he had three whole years to make that. Which is about one seventh of the amount McCain had. So if you think of it that way
GLENN: No, here's the thing that I like about Barack Obama by the way, I saw Joe Biden on TV today. There's two things that I can't take. I can't take well, three things. I can't take John McCain saying "My friends" anymore, can't take it. I can't go through four years of having him say "My friends." I can't take it. The other thing that I can't take John McCain saying, "I understand the economy." I think he's saying that too much. Every time he says that, it makes me think I don't think he does. Have you ever noticed that? "I understand the economy." Okay, then don't tell me about that you understand the economy. Just tell me what's going on, will you? "I understand the economy. I have faith in the American worker." What does that even mean, "I have faith in the American worker"?
Okay. So John McCain was on but then Joe Biden was on. I've never heard anybody use the word "Middle class" more than Joe Biden did. Has anybody noticed this? You watch. Listen to any sound bite from Joe Biden and it will have the word "Middle class" in it. He actually said this today on the Today Show. He said, "You know, the middle class." I mean, I haven't even heard go back and look at the records on John McCain. And I'm thinking, oh, what records should we look up? "Go back and look at the record, John McCain hasn't even used the word "Middle class" during this entire campaign." What? What difference does it make if he's used the word "Middle class?" Full fledged class warfare is coming. I mean, you know, I know we've already been there, but full middle class, just remember that. Stu, just once in a while throw the word middle class into the show or just remind me to say middle class every once in a while.
STU: That's important because you don't want Joe Biden attacking him.
GLENN: Because, you know, he's middle class just like you and me (laughing).