This is a rush transcript from "America's Election HQ," October 9, 2008. This copy may not be in its final form and may be updated.
BRIAN SULLIVAN, CO-HOST: All right. Fair and balanced now, let's get reaction from Senator Obama's camp. The DNC senior advisor Brad Woodhouse is here.
Brad, how do you respond to Howard Kurtz' story.
BRAD WOODHOUSE, DNC SENIOR ADVISOR: Hey, Brian. Thanks for having me.
I'll tell you, I just have to -- an amazement, I guess, is the best way to put it. I mean, you know, Mr. Kurtz has pulled together some sensational stories. He's pulled together a string of quotes and accusations on right-wing blogs into an article that you are all promoting today.
I mean, the truth of the matter is, and this is "Business Week," this is not me talking, 80 percent of the loans that were done in the subprime market were done by banks and mortgage service companies that were not subject to supervision of the Community Reinvestment Act. So, what he's saying is just not factually true. I mean, I don't want to call that one a lie but he's.
SULLIVAN: Yes, but you're hitting on the mortgage angle. What about Senator Obama's relationship with the Woods Foundation and ACORN?
WOODHOUSE: Well, let me just say this -- I mean, Senator Obama has never been an employee of ACORN, never done any training for ACORN. At one point in his career, he and a bunch of lawyers represented a bunch of groups including ACORN who had a lawsuit against Governor Edgar in Illinois and they wanted to enforce the Motor-Voter Law.
So, I mean -- look, this is -- there's no relationship here. And let's talk about a real relationship. Mr. Kurtz was talking about Fannie and Freddie. Senator McCain's campaign manager had a $15,000 a month stake in Fannie and Freddie. His lobbying firm did, until about 35 days ago. So, I mean, you know, if we really want to go down this (INAUDIBLE).
SULLIVAN: Yes, but the campaign manager is not in a position to make policy, so I don't think that's a fair -- and remember, Fannie Mae and Freddie Mac grew primarily under a Democratically-controlled Congress.
WOODHOUSE: Well, he was lobbying on behalf of Fannie Mae and.
SULLIVAN: . September of '07. September of '07, Barney Frank co- sponsored.
WOODHOUSE: Well, he was lobbying for years on behalf of Fannie and Freddie, on behalf of them being protected from any stronger regulation. So, I mean that is certainly an important thing to be discussed.
I mean, he had a campaign manager been -- and you know, Mr. Kurtz is on talking about Senator Obama's connection with Fannie and Freddie and ACORN. Senator McCain.
SULLIVAN: OK. Who cut ties last year, Brad. They cut ties last year. Listen, you know, we got to go to a break.
WOODHOUSE: But he was getting, his firm is getting $15,000 a month until August.
SULLIVAN: And, you know, OK, that's fine. Barack Obama's got on the board of the Woods Foundation which also received money from ACORN.
SULLIVAN: So, you know -- all right. You know what, Brad? We got to go. The debate will continue, I guarantee it. You are invited back on at any time. We'd love to have you.
WOODHOUSE: Brian, thank you. I'll come on anytime.
SULLIVAN: Brad Woodhouse, thank you very much, DNC senior advisor.
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