A stunning example of the incredible disconnect between the mainstream media and the blogosphere is this video of the interim Fannie Mae CEO, Daniel Mudd, addressing the Congressional Black Caucus, including Barack Obama, at their swearing-in ceremony in 2005. Although this video is spreading quickly in the blogosphere, you have yet to see or hear anything about it in the MSM. As you can see in the video, Mudd talks about the problems of Fannie Mae yet that didn't keep Obama and other Democrats from taking large contributions from that organization or doing anything to try to fix it. Here is a transcript of CEO Mudd addressing the Democrats (emphasis mine):
Good morning members of the Congressional Black Caucus. I am humbled to come here today to reaffirm the friendship and partnership between Fannie Mae and the Congressional Black Caucus. Fannie Mae is determined to keep tearing down the barriers to deliver on the American dream and that means we need to work together with the CBC. So many of you have been good friends to Fannie Mae and our mission. You've been friends through thick and thin. We have indeed come upon a difficult time for Fannie Mae. There is much to be done inside my company and I humbly ask you to help us and to help me. If there are areas where we are missing. If there are areas where we could do better, we'd like to hear it from our friends and I'd be so bold as to say our family first.
It is true that Fannie Mae has lent more money to more minorities and more underserved individuals than any single company in history.
We will work hard inside our company to resolve the serious matters before us to put our house in order and to forge a new future. And all the while you will see Fannie Mae reaching out and listening to the caucus. Over a century of endeavor you have earned the reputation as the conscience of Congress. In many ways I want to tell you today you are also the conscience of Fannie Mae. Keeping us on course to serve those who need serving the most.
As of this writing, a check on Google News shows NO news outlet has so much as mentioned this video despite the fact of Obama being present and later receiving $126,349 from Fannie Mae. Ask yourself this, if the CEO of Fannie Mae had addressed a similar "family" speech to a group of congressional Republicans who had received big donations from that organization, do you not think the video would have already appeared on the nightly news of the major networks?
H/T: Gateway Pundit