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RUSH: The New York Times today… I want to get this done and over with. I’ve got a lot of other things I want to get here, too, today, since we started out on the media and they’re in the tank for Obama and so forth with polls and everything. The New York Times today is just… I really don’t know how to describe this. This is a paid campaign ad on the front page. This is as though Obama wrote the script for the New York Times, they put it under the names of Jackie Calmes and David Kilpatrick. Now, let me set this up. Everybody knows now that’s paying attention that this Fannie Mae and Freddie Mac is traceable straight back to the Democrats: straight back to Barney Frank, straight back to Bill Clinton, straight back to Jimmy Carter, straight back to Chris Dodd — and right behind Dodd is Barack Obama.

Everybody paying attention knows this. We also know that the Democrats are desperately looking for a Republican to dump on here because they can’t find one. There isn’t one. This is a Democrat-made mess. They try to dump on Phil Gramm and his 1999 bank deregulation legislation, but that isn’t flying. If there were a Republican anywhere that they could pin this on, they would have started congressional hearings weeks ago. So with that as the setup, the headline in the New York Times today: ‘McCain’s Aide’s Firm was Paid by Freddie Mac — One of the giant mortgage companies at the heart of the credit crisis paid $15,000 a month from the end of 2005 through last month to a firm owned by Senator John McCain’s campaign manager,’ Rick Davis.

The McCain people are livid. They have put out a response on their website that refutes all of this. This is not even bias. This is propaganda. It is false, it is provably false, and what it ignores is that Obama — and they don’t even mention it! — Obama received $109,000 from Freddie Mac or Fannie Mae, one of the two. In just two and a half years in the Senate. It took Chris Dodd about nine years to accrue $120,000 from Fannie Mae. Obama did it in less than two years. How the hell does that happen? What the story also does not mention, ladies and gentlemen, is that it was John McCain who authored and cosponsored legislation to make stricter regulation oversight of both of these things, Fannie Mae and Freddie Mac, going back to ’05 and to ’06.

McCain is the one guy — a lot of Republicans, the president, a lot of Republicans — who came in and said, ‘You guys are out of control in there and this is going to lead to a major problem,’ tried to set up new regulations. The Democrats blocked it at every turn. I’m at a loss to explain this, other than to describe it as simply the New York Times as willingly, openly, and in-front-of-the-world decided to become an official arm of the Obama campaign. This is an unpaid ad is what this is. This is an unpaid campaign ad filled with propaganda that is designed to destroy McCain. Rick Davis? Guess what, folks. Paul Begala was also a consultant here. Not a lobbyist, he was a consultant here.

He was a paid consultant to Freddie Mac until this month, and who is Begala for in this whole race? Look it, the bottom line in this damn thing is this — and I’m going to get into this in great detail when I have a little bit more time this afternoon. This is a sewer. This Fannie Mae, Freddie Mac thing is a sewer. It was constructed and run by Democrats. It is filth. It is raw sewage sulking around in there, and it’s of their making, and it has presented a crisis to the US economy, and it was all based on liberalism. Liberal, socialist ideas created Fannie Mae and Freddie Mac and then raped them and distorted their original purpose, when the Democrats turned this thing into nothing more than a personal piggy bank for each other and their party.

BREAK TRANSCRIPT

RUSH: This is Joe in Sioux City, Iowa. Nice to have you, sir. Hello.

CALLER: Howdy. Hey, first — uh, I first want to make some of your listeners mad real quick and say it took me less than a minute to get on. (laughing) I’ve been trying for a long time and it took me less than a minute.

RUSH: We have a special line dedicated to those on the Obama payroll.

CALLER: Oh, I’m not!

RUSH: (silence)

CALLER: No, just — I read a story the other day because I’ve been listening to the, uh, different shows saying that Obama got all this money from Freddie Mae — or Freddie Mac and Fannie Mae.

RUSH: Yeah, yeah.

CALLER: He did, and those were campaign contributions from individual employees, not necessarily from the company itself. And the difference between that and Rick Davis is Rick Davis was paid directly from those companies to lobby for them, and I think that that should be a difference that’s put out there.

RUSH: Except for one thing: what you said isn’t true about Rick Davis.

CALLER: Okay. It’s his firm though, right?

RUSH: He hasn’t been with the firm since 2006.

CALLER: But he owns it. It’s his firm, right?

RUSH: He has had no income from it.

CALLER: Okay, but eventually he will.

RUSH: He hasn’t.

CALLER: It’s his firm.

RUSH: Doesn’t matter. He’s not there. He hasn’t gotten any income. He separated from his firm in 2006. He has seen no income from his firm since 2006. Zip, zero, nada. He has received no salary or compensation since 2006. He has received no profit or partner distributions from that firm on any basis — weekly, biweekly, monthly, bimonthly, quarterly, whatever — since 2006. Zero. Neither has Mr. Davis received any equity in the firm based on profits. Also missing from the Times story is that Rick Davis has never, never lobbied for either Fannie Mae or Freddie Mac. He has not served as a registered lobbyist since 2005. The New York Times left all of that out.

CALLER: But he did — but he did serve with the PAC that Freddie and Fannie set up.

RUSH: Look, you are fighting an uphill battle here. You are illustrating the hopelessness of the Obama campaign. I hit you with facts — I hit you with truth that destroys your premise — and you still want to try to use this program to present a false illusion. You really take the cake, you and your gang, because this scandal, this corruption, you own it. This is pure, 100% undiluted Democrat sewage, corruption, scandal. It’s all yours, and you are not going to use this program to try to create a false, propaganda-laced illusion that somehow a guy whose firm was paid $15,000 over two years ago is somehow at fault here. Ha! Ha! You can give it your best shot. You might find some hosts who will be bamboozled by this, but you can’t trick me.

I am not going to sit here and put up with this while the Democrats and the Obamaites try to turn this thing into a Republican scandal with the aid of the New York Times and the Drive-By Media. I mentioned this. I knew when we got that call, that brilliant call who said, ‘Where are the investigations of Republicans?’ You know that if Henry Waxman and Dodd and Barney Frank and all these other guys, John Conyers, could put a Republican in the hoosegow, they’d be doing it. There isn’t one. As to Barack (ahem) and his contributions from employees, let’s also not forget, Joe, that it was the employees of Fannie Mae who forged documents and letters allowing Fannie Mae to present an asset base that didn’t exist so that Franklin Raines (friend of Obama), Jim Johnson (friend of Obama), could rape Fannie Mae and Freddie Mac for hundreds of millions of dollars.

I left out the name Jamie Gorelick, by the way, who also got her hand in this sewer and led to its corruption. Don’t talk to me about employees. Of course the employees are going to donate to Obama. That’s what’s wrong here! Fannie Mae and Freddie Mac are simply branch offices of the Democrat Party, and you can see what happens when the Democrats get their hands on something: they destroy it! Like they destroyed the war on poverty, like they destroyed the black family, like they have tried to destroy religion. They’re trying to destroy automobiles. They’re trying to destroy everything that they regulate and touch, and you call here and you want to tell me it’s Rick Davis’ fault? You, sir, are just a fool, and you did a great job of representing exactly how intellectually empty and vapid the whole Obama campaign is, the whole Drive-By Media. (sigh) Thank you, sir.

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