GOP Groups, Fannie Mae Pay FEC Fines

[Khephra]

WASHINGTON -- The Republican National Committee, Senate Republicans' fund-raising arm and Fannie Mae are paying fines to settle a case over improper use of political donations from the mortgage giant.

Under an agreement with the Federal Election Commission, the RNC was to pay a $98,000 civil penalty, the National Republican Senatorial Committee faced a $24,000 fine, and Fannie Mae was to pay $10,000.

The FEC said Wednesday it found some donations from Fannie Mae to the party committees from 1998-2000 weren't deposited in the one type of account the committees were allowed to accept the money for: building funds that weren't used for election costs.

Fannie Mae, formally known as the Federal National Mortgage Association, is a congressionally chartered corporation. Federal law bars such government-backed corporations from making contributions or spending in connection with any election.

more..............

http://www.newsday.com/news/politics/wire/sns-ap-republicans-fannie-mae,0,245380.story?coll=sns-ap-politics-headlines

[Warpy]

1. The morgtgage giant

...is nearly bankrupt, as is Freddie Mac. The fallout from this will be enormous. These are just too big to be allowed to go under without any sort of a fight. My guess is that the taxpayers (and this means you and me) will once again be called upon to bail out a bunch of corrupt hacks who took advantage of deregulation and bilked the system for all it was worth. It will also make Reagan's S&L bailout look like small potatoes.

What is it going to take for these wingnuts to wake up and realize that goverment is an adversary to REIN IN business greed is necessary, and that regulations were there FOR A GOOD REASON???

Just asking.

2. A lot more to this story

check it out!