Have you seen the McCain ad, or read the Internet postings claiming that ex-Fannie Mae Chief Franklin Raines is an economic advisor to the Obama campaign?
Don't believe it -- more Republicon lies.
Here's a link to a 20 September Washington Post article that reveals the facts behind this smear:
The McCain TV ad 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."
In fact, here's what Franklin Raines says:
"I am not an advisor to Barack Obama, nor have I provided his campaign with advice on housing or economic matters."
According to the Post article, a minor official in the Obama campaign spoke with Raines on the telephone twice and asked him for comments on general economic matters. Someone reported this fact in a Wash. Post editorial, the Republicons picked up on it, and suddenly Raines becomes an "economic advisor" to Obama.
Meanwhile, John McCain continues to employ "Foreclosure Phil" Gramm as a real, day-to-day economic advisor and it's reported that Gramm is in line to be McCain's Treasury Secretary.
Read about Foreclosure Phil here: