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Obama and the Banking Committee


A couple months ago, Barack Obama falsely claimed to be a member of the Senate Banking Committee in order to claim credit during a trip to Israel for that committee’s action on a bill that would impose sanctions against Iran.  There are few things that senators pay more attention to than their committee assignments, so Obama’s misstatement seemed clear evidence that he was either, as Scott Johnson of Power Line put it, “an overaged example of the phenomenon” of the “b.s. artist” or remarkably unfamiliar with the operations of the Senate (which he had barely joined before launching his campaign for the presidency).


Now it appears that Obama’s confusion may have been caused by the fact that he was second only to Banking Committee chairman Chris Dodd in the amount of financial support that he received from Fannie Mae and Freddie Mac and that, according to this Bloomberg article by Kevin Hassett, he was among those Democrats who “protected Fannie and Freddie” from urgent reform legislation in 2005.  It’s no wonder that Obama imagined that he was a member of the Banking Committee.


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