Bad enough with all the racist and anti-american associations, bad enough with having one of your VP search committee members being the key facilitator for the Marc Rich pardon, but low and behold, another member of this committee had the proper judgement to actually take himself out, vs Oblather taking the lead to have let him go
Johnson Quits Obama's Vice Presidential Search TeamBy Julianna GoldmanJune 11 (Bloomberg) -- Former Fannie Mae Chairman James Johnson said he has quit Senator Barack Obama's vice presidential search committee after the Wall Street Journal reported he may have received preferential mortgage terms from Countrywide Financial Corp.
Johnson said that while he has done nothing wrong, he left to avoid being a hindrance to Obama, the presumptive Democratic nominee.
"I would not dream of being a party to distracting attention from that historic effort,'' he said in a statement. "I believe Barack Obama's candidacy for president of the United States is the most exciting and important of my lifetime.''
Johnson's ties to Countrywide became a campaign issue after Republicans pointed out that Obama had been critical of the mortgage lender in campaign speeches. Johnson's role as a political insider also contrasted with Obama's pledge to bring change to Washington.
Johnson, 64, said that "blatantly false statements and misrepresentations'' were written about him.
"Jim did not want to distract in any way from the very important task of gathering information about my vice presidential nominee, so he has made a decision to step aside that I accept,'' Obama said in an e-mailed statement.
Obama said he is "confident'' his vice presidential search process will produce "a number of highly qualified candidates'' in coming weeks.
Kenney, HolderJohnson was part of a three-person team, along with Caroline Kennedy, the daughter of the late President John F. Kennedy, and former Deputy U.S. Attorney General Eric Holder, who were tapped to help vet prospective running mates for Obama. Johnson, who ran Walter Mondale's 1984 presidential campaign, helped 2004 Democratic nominee John Kerry in his vice presidential search.
Angelo Mozilo, the chief executive officer of Countrywide, the biggest U.S. home lender, may have given Johnson and other friends good deals on mortgages, the Wall Street Journal reported on June 7, citing unidentified people familiar with the matter. The newspaper didn't provide any specifics on whether favors were granted.
Since then, Johnson's position on the search committee has drawn criticism from Republicans who noted that Obama, the presumptive Democratic nominee, repeatedly denounced Countrywide for its role in the subprime-mortgage crisis.
Obama and Countrywide "These are the folks who are responsible for infecting the economy and helping to create a home-foreclosure crisis -- 2 million people may end up losing their homes,'' Obama said of Countrywide at a March 31 campaign appearance in Lancaster, Pennsylvania.
Johnson's resignation raises concerns about Obama's judgment, said Tucker Bounds, a spokesman for Senator John McCain, the presumptive Republican nominee.
"The American people have reason to question the judgment of a candidate who has shown he will only make the right call when under pressure from news media,'' Bounds said.
One Republican strategist said mismatches between Obama's rhetoric and the realities of a presidential campaign will continue to be exploited.
"Harsh Reality" "Soaring rhetoric turns into harsh reality really fast and this is going to happen to Obama over and over again,'' said Terry Holt, a Republican strategist and former campaign spokesman for President George W. Bush. "People's expectations of Obama are going to be difficult to keep up.''
A Countrywide spokesman didn't immediately return a phone call seeking comment on Johnson's loans. Fannie Mae spokesman Brian Faith declined to comment on Johnson's resignation.
Obama, 46, an Illinois senator, yesterday defended his campaign's ties to Johnson, an unpaid adviser, saying it wasn't realistic to think aides would be doing extensive checks on everyone connected with his campaign.
"I am not vetting my VP search committee for their mortgages,'' Obama said during a news conference in St. Louis.
Johnson's role at Fannie Mae, where he was chairman from 1991-99, has also come under scrutiny. The Washington Post reported today that executives of the Washington-based company were concerned in 2004 that a consulting arrangement they had with Johnson would be publicized in confirmation hearings.
"I am extremely proud of my service to Fannie Mae and in other important dimensions of public service,'' Johnson said in his statement.
Holder has also come under fire from Republicans for his role in the 2001 pardon of commodities trader Marc Rich.
One possible candidate if the Obama campaign decides to replace Johnson could be former Senate Majority Leader Tom Daschle, a national campaign co-chairman for Obama.
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