That moral high ground Obama likes to stand on appears to be sinking. Jim Johnson is under the bus with Rev. Jeremiah Wright, Pfleiger,Tony Rezko …. How many others was that?
Johnson who was the head of Sen. Obama's vice presidential search committee, received $1.9 million in loans at below market rates from Countrywide Financial, which was embarrassing for Obama, because he had blamed most of the subprime mortgage crisis on Countrywide.
Fannie Mae executives concealed $10.6 billion in losses through questionable accounting practices. This was about 19 times the size of Enron's losses, but attracted much less media attention. The fraud was discovered during the tenure of Mr. Johnson's successor, Franklin Raines however federal investigators concluded the scandal was rooted in a corporate culture that dated back 20 years.
Johnson served on the boards of five corporations that granted their senior executives the kind of lavish pay packages Mr. Obama has denounced.
Another appointment to his vice presidential search committee is Eric Holder, who was deputy attorney general during the Clinton administration. Mr. Holder was a key figure in the pardon of fugitive financier Marc Rich, whose ex-wife, Denise, was a major contributor to Clinton campaigns and to the Clinton library fund.
Mr. Rich fled to Switzerland to avoid prosecution on 51 counts of tax fraud, and was not eligible for a pardon under Justice Department guidelines. But Mr. Holder circumvented normal procedures and kept other Justice Department lawyers in the dark. A congressional committee described his conduct as "unconscionable."
Unconscionable seems to fit quite a few Obama appointees. Oh well, so many friends, so few ethics.