Danny Schechter - ColdType

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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 run a campaign based largely
upon his “good judgment.” The problem with Obama’s rhetoric
rests in the fact that tucked away in his database of 2.5
million donors is the approximately 180,000 power brokers
that have funded nearly 60% of his campaign. Included in
this list are the more than 594 campaign bundlers including
15 lobbyist bundlers who have accounted for over $140
million in contributions. Included in this list are just 36 bundlers
accounting for over $18 million dollars, with two bundlers
raising over $1 million, and one over $2 million. These
amounts are impressive considering that just 552 individuals
have accounted for nearly 1/3 of his total campaign contributions.
Of course determining the occupation can be tricky
considering the Obama campaign lists nearly 100 bundlers
as having unknown occupations, nearly 100 who are listed as
“self-employed,” and dozens of “homemakers” and “retired”
individuals.
Among Obama’s campaign contributors are many Lehman
Brothers Executives, such as CEO Richard Fuld ($2,300),
President Joseph Gregory ($4,600) and dozens of other top
Lehman Executives. On June 19th, Lehman shareholders
filed suit against Fuld and Gregory for the company’s exposure
in the subprime market. In addition to dozens of Lehman