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Fanny Mae and Freddie Mac funded Jesse Jackson's pet projects.


CofCC.org News Team

Your tax dollars are now going to bail out two financial institutions that not only spend tens of millions on their executives, they have been funding Jesse Jackson’s pet projects.

From CNSNews.com

Mortgage giants Freddie Mac and Fannie Mae have come under fire for making contributions to programs headed by the Rev. Jesse Jackson at a time when their own survival is at stake.

Peter Flaherty, founder and president of the conservative National Legal and Policy Center (NLPC), told Cybercast News Service that the gifts to Jackson were “clearly inappropriate” and “extremely controversial.”

The NLPC says the management teams of both companies made sizeable contributions to the Rainbow/PUSH Coalition and Citizenship Education Fund Annual Conference, Jackson’s main fundraising event of the year. The conference took place June 28 through July 2 in Chicago.

According to the conference program, obtained by an NLPC staff member who attended the event, Freddie Mac, as a “Platinum Sponsor,” paid $150,000. Fannie Mae paid $100,000 to be listed as a “Diamond Sponsor.”

Both Freddie Mac (The Federal Home Loan Mortgage Corporation) and Fannie Mae (The Federal National Mortgage Association) are private corporations chartered by Congress and responsible to the federal government.


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