Video: Campaign Contributions from Fannie and Freddie

This video of Senator Jim DeMint, speaking from the Senate floor on July 26, 2008, definitively showcases exactly why there is so much corruption in our esteemed House and Senate. Below the video is a brief transcription of some key points made by DeMint. Thanks to YouTube.com

[Senator DeMint - about 3-1/2 minutes into the video] Reforms that were needed for Fannie Mae and Freddie Mac were not even talked talked about in Congress because of so many political contributions to Congressmen and Senators. We don't like to think that about ourselves, but there's a reason that Fannie Mae and Freddie Mac spent over $200 million over the last 10 years in campaign contributions to those of us in the House and the Senate and they got something for it. They got left alone and they grew out of control. If we are going to make the American taxpayer stand behind these companys, there is one common sense thing we can do to keep it open and honest. These organizations, now guaranteed by the American taxpayers, should no longer be able to spend millions of dollars buying influence in Congress. That's a conflict of interest. My amendment would simply stop the political activity, the lobbying and the contributions of these organizations that are now of part the Federal Government because of this explicit guarantee. The Majority leader is so afraid of asking his Democrat colleagues to vote on this bill that would bann lobbying, that benefits us so much in our campaigns.