2008 More McCain Ties to Freddie Mac
posted by September 23 at 17:55 PMon
Perhaps this is why the McCain campaign worked so hard earlier this week to paint The New York Times as out to get their man? Because they knew another shoe was likely to drop in the Times, and they wanted it to be perceived as part of a vendetta, not as a solid piece of investigative journalism? Anyway, here’s the other shoe:
One of the giant mortgage companies at the heart of the credit crisis paid $15,000 a month to a firm owned by Senator John McCainís campaign manager from the end of 2005 through last month, according to two people with direct knowledge of the arrangement. The disclosure contradicts a statement Sunday night by Mr. McCain that the campaign manager, Rick Davis, had no involvement with the company for the last several years.
Mr. Davisís firm received the payments from the company, Freddie Mac, until it was taken over by the government this month along with Fannie Mae, the other big mortgage lender whose deteriorating finances helped precipitate the cascading problems on Wall Street, the people said.
They said they did not recall Mr. Davis doing much substantive work for the company in return for the money, other than speak to a political action committee composed of high-ranking employees in October 2006 on the coming midterm congressional elections. They said Mr. Davisís his firm, Davis & Manafort, was kept on the payroll because of Mr. Davisís close ties to Mr. McCain.