Update: Obama tries CPR on “seven houses” lament

(By Ed Morrissey, Hot Air) - JWF has the Obama response, which falls back on the “seven houses” meme:

This is another flat-out lie from a dishonorable campaign that is increasingly incapable of telling the truth. Frank Raines has never advised Senator Obama about anything — ever. And by the way, someone whose campaign manager and top advisor worked and lobbied for Fannie Mae and Freddie Mac shouldn’t be throwing stones from his seven glass houses.

Uh-huh. By the way, it wasn’t the McCain campaign that “smeared” Obama, but also the Washington Post:

* 7/16/08: “In the four years since he stepped down as Fannie Mae’s chief executive under the shadow of a $6.3 billion accounting scandal, Franklin D. Raines has been quietly constructing a new life for himself. He has shaved eight points off his golf handicap, taken a corner office in Steve Case’s D.C. conglomeration of finance, entertainment and health-care companies and more recently, taken calls from Barack Obama’s presidential campaign seeking his advice on mortgage and housing policy matters.”

* 8/28/08: “In the current crisis, their biggest backers have been Democrats such as Senate Banking Committee Chairman Christopher J. Dodd (Conn.) and House Financial Services Committee Chairman Barney Frank (Mass.). Two members of Mr. Obama’s political circle, James A. Johnson and Franklin D. Raines, are former chief executives of Fannie Mae.“

Team Obama never objected to this reporting before tonight. Jim Johnson will almost certainly get the next starring role in a McCain ad, and what will Obama have to say about the man he originally tapped to pick his running mate?