Jesse Jackson(Democrat-Fannie and Freddie Mac)

Marketwatch reports:

The National Legal and Policy Center (NLPC) today criticized the managements of Fannie Mae (FNM) and Freddie Mac (FRE) for their recent sponsorship of the Rainbow/PUSH Coalition and Citizenship Education Fund Annual Conference. The event took place June 28 through July 2 in Chicago. It is Jesse Jackson's main fundraising event of the year.
According to the conference program, Freddie Mac was a "Platinum Sponsor," a designation costing $150,000, and Fannie Mae was a "Diamond Sponsor," a designation costing $100,000.
Fannie and Freddie are so-called Government Sponsored Enterprises (GSE) that own and guarantee mortgage securities. Shares of each are down approximately 85% in the last year. On Saturday, the Treasury announced it would offer a line of credit to help ensure the survival of each company.
NLPC President Peter Flaherty said, "It is outrageous that rapidly evaporating shareholder equity is still being dished out to Jesse Jackson. The CEOs of these companies have repeatedly shown poor judgment, and this is just more evidence."
Even before the present crisis, NLPC was a critic of the companies' financial backing of Jesse Jackson. In 2006, NLPC sponsored a Freddie Mac shareholder proposal critical of the support.
Jesse Jackson's relationship with Freddie Mac began in 1998 when Jackson accused Freddie Mac of racial discrimination and encouraged major shareholders to sell their stock. Freddie Mac began financial support for Jackson's organizations and his criticism of Freddie Mac stopped.
Freddie Mac signed a $1 million contract for Rainbow/PUSH to run an "Economic Literacy" program, a curious arrangement given the allegations of financial impropriety that have followed Jackson. This Company was embarrassed when the media reported that Rainbow/PUSH turned around and charged churches $1,000 to enroll in the program.
In 2003, an independent report commissioned by the Freddie Mac board criticized the company's accounting practices, singling out 13 improper transactions, involving Ron Blaylock, Jesse Jackson's longtime crony and financial backer. Trades involving billions of dollars in assets were executed between divisions of Freddie Mac by Blaylock & Partners LP for the purpose of avoiding federal income taxes. According to the report, Blaylock apparently received fees of $250,000 for making a handful of phone calls.
NLPC was also critical of the incredibly generous "golden parachute" Fannie Mae provided to fired CEO Franklin Raines in 2004.
At the time Flaherty said, "Let me get this straight. Raines apparently cooks the books, brings disgrace to the company, and imperils Fannie Mae's standing with regulators, the Congress and administration. So for his punishment he is made wealthy for the rest of his life?"
NLPC promotes ethics in public life and sponsors the Corporate Integrity Project.

Fannie and Freddie sure knew how to "influence" the right people.John Kass of The Chicago Tribune refers to Jesse Jackson as "The King of The Beers".To us,he's "King of Leverage".