Another reason to cut off Jesse Jackson

It turns out that Jackson was even feeding off (extorting?) Fannie Mae (FNM) and Freddie Mac (FRE). The National Legal and Policy Center today issued a press release criticizing the financially endangered institutions for shipping a combined $250,000 to Jackson's Rainbow/PUSH Coalition and Citizenship Education Fund Annual Conference. The Chicago event, June 28 through July 2, is one of Jackson's main fund-raising vehicles.

The policy center noted:

Jesse Jackson's relationship with Freddie Mac began in 1998 when Jackson accused Freddie Mac of racial discrimination and encouraged major shareholders to sell their stock. Freddie Mac began financial support for Jackson's organizations and his criticism of Freddie Mac stopped.

That's an old story in Chicago. But it could well be new, and outrageous, to Fannie Mae and Freddie Mac shareholders who have seen a huge chunk of their value wiped out in the past several days.

Another hat tip to Newsalert