Freddie Mac

“The socialization of our country continues today, with insurance company AIG receiving a loan from the Federal Reserve in return for an 80% stake in the company.  This follows the nationalization of mortgage companies Fannie Mae and Freddie Mac last weekend, and as we speak, other financial companies, such as Washington Mutual and Morgan Stanley, are looking for a life preserver to stay afloat.  The end result of all this will cost American taxpayers hundreds of billions of dollars. 

Dr. Mike Hargadon noted in an earlier press release, dated July 25th, that Elijah Cummings was placing the needs of corporate special interests ahead of the needs of his constituents.  With the recent news that the US Treasury Department was bailing out the mortgage giants Fannie Mae and Freddie Mac, Dr. Hargadon felt it necessary to revisit that theme. 

Dr. Mike Hargadon, Republican challenger to Elijah Cummings in Maryland’s Seventh District, spent about six hours stumping on Sunday at the Catonsville Arts and Crafts Festival on Frederick Road. 

“This is the method of our current Congress.  Throw scraps to the poor by raising the minimum wage, while giving out generous favors to their special interest friends.  Congressman Cummings has received hundreds of thousands of dollars in donations from special interests, so his first priority is to satisfy the lobbyists on K Street, not the downtrodden working poor in Baltimore,” continued Dr. Hargadon, who has pledged to refuse donations from special interest groups.