We learn today from the AP that Jim Johnson, a "stalwart of the Washington establishment" is leading Mr Obama's VP search. This fellow is poison. He represents everything a detest, reject, and abhor about Washington politics. I thought Mr O was going to shun corporate creeps like him.
Obama vetter draws unwanted scrutiny outlines the backroom dealings of Jim Johnson on behalf of himself and the corporate Republican thugs who rule us.
his high-profile campaign role has suddenly exposed him to questions about his financial dealings. The questions range from his relationship with the embattled CEO of mortgage lender Countrywide Financial to his more recent oversight roles on various corporate compensation committees that approved hefty executive pay packages.
On Saturday, the Wall Street Journal reported that Johnson received at least $7 million worth of home loans from Countrywide through an informal program for friends of company CEO Angelo Mozilo that offered rates below the market average. At least four of the loans were issued while Johnson was employed either as the CEO or an outside consultant for Fannie Mae.
This "informal program for friends" is not something your local hair dresser can come up with. It is for the rich people. Countrywide is the largest mortgage lender, now under some scrutiny for its role in the current housing crisis for approving high risk subprime loans. Mr O has criticized the firm’s executives for accepting millions of dollars of compensation, as homeowners fight for their homes.
In 2006, five companies where Johnson served on compensation committees came under fire from ... two corporate compensation research companies, for accounting errors and failing to sufficiently tie executive payment to performance.
Mr O must fire corrupt/corrupting Jim Johnson immediately. People like him are owed big favors in Washington. What sort of sellout will take place in an O administration if Johnson is allowed to proceed? Mr O needs to do the American people a favor and ostracize ancien regime creeps like Jim Johnson.
Update 12 June 2008: Hooray for our side, because the O campaign heard my message and Johnson resigned yesterday.