The federal takeover of mortgage giants Freddie Mac and Fannie Mae may stabilize the economy and help the housing industry. But politicians could take a hit, particularly Democratic presidential nominee Barack Obama.
Employees of the government-sponsored firms, which own or guarantee half of the nation's mortgages, have donated almost $4.3 million to federal elected officials and their various campaign committees since 2005.
Obama is the largest individual recipient at about $112,000, federal campaign finance reports show.
One reason Obama has collected the most is that he has raised far more than any other federal candidate, $390 million so far. The mortgage money has not influenced Obama's stands, a campaign aide said.
The candidate has "consistently supported stepped-up regulation for Fannie Mae and Freddie Mac to ensure that instead of rewarding speculators who relied on the government to reap massive profits, taxpayers and struggling homeowners are protected," the aide said.