From Byron York at The Corner:
The McCain has released a new ad entitled "Advice." It says:
Obama has no background in economics.
Who advises him?
The Post says it's Franklin Raines, for "advice on mortgage and housing policy."
Shocking.
Under Raines, Fannie Mae committed "extensive financial fraud."
Raines made millions.
Fannie Mae collapsed.
Taxpayers? Stuck with the bill.
Barack Obama.
Bad advice. Bad instincts. Not ready to lead.Just a few moments ago, the Obama campaign released a statement from Raines:
I am not an advisor to Barack Obama, nor have I provided his campaign with advice on housing or economic matters.Added Obama spokesman Bill Burton:
This is another flat-out lie from a dishonorable campaign that is increasingly incapable of telling the truth. Frank Raines has never advised Senator Obama about anything ? ever...Now, when the ad was released, the McCain campaign also released this supporting information:
The Obama Campaign Has Solicited Franklin Raines, Who "Stepped Down As Fannie Mae's Chief Executive Under The Shadow Of A $6.3 Billion Accounting Scandal," For "Advice On Mortgage And Housing Policy." "In the four years since he stepped down as Fannie Mae's chief executive under the shadow of a $6.3 billion accounting scandal, Franklin D. Raines has been quietly constructing a new life for himself. He has shaved eight points off his golf handicap, taken a corner office in Steve Case's D.C. conglomeration of finance, entertainment and health-care companies
and more recently, taken calls from Barack Obama's presidential campaign seeking his advice on mortgage and housing policy matters." (Anita Huslin, "On The Outside Now, Watching Fannie Falter,"
The Washington Post, 7/16/08)
The Washington Post: "Two Members Of Mr. Obama's Political Circle, James A. Johnson And Franklin D. Raines, Are Former Chief Executives Of Fannie Mae." (Editorial, "Tough Decision Coming," The Washington Post, 8/28/08)
As far as I can tell, the Post has not corrected its reporting. Who is correct? We'll see.
http://corner.nationalreview.com/post/?q=NDY5MGQ1MWMwMjQzM2E5ODI0NzNiZmUyZDVkNGVkYTY=
