2008 More McCain Ties to Freddie Mac
posted by September 23 at 17:55 PM
onPerhaps 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 McCain’s 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. Davis’s 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. Davis’s his firm, Davis & Manafort, was kept on the payroll because of Mr. Davis’s close ties to Mr. McCain.
Comments
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aSKSoiNbnQY0
Let's here it for the paranoid and hysteriacl in thew world..
with out you.. there would be nothing worth raising our eyebrows over...
I imagine in my mind Uncle Sam shaking down, -upside down- from their ankles, the Republican party. And it makes me smile.
What a fucking shocker... not.
You'd think the Carly Fiorina $45 mil payoff, and th fedit Phil Gramm conection would be enough, but the McCain SpoogeWagon sloshes on...
I can't wait for the debate!!!
The only real "different" stand a candidate could take would be 100 percent opposing the AIG bailout.
Neither candidate has done that.
So what is the point of criticizing.
They are both the puppets of the insiders.
As much as it would be nice to make this crisis entirely about the evil Republicans and how they've fleeced the American people, both political parties have enough connections to the mess to keep the finger pointing and counter finger pointing going for a long while. For example:
Raines, Johnson, Preitzger (sp?).
Dodd and Obama were the top recipients of contributions from Fannie/Freddie.
Barney Frank insisted there was no problem with Fannie/Freddie as Democrats in Congress blocked moves to put in oversight a few years ago.
Biden voted in favor of Gramm-Leach-Bliley, President Clinton signed it.
Now that is not to say that there weren't lots of mean old Republicans making hay as well, I'm just saying that we need to recognize that it took a bi-partisan effort to fuck us up this badly.
15k a month. Not bad for a no show.
PopTart@7
You have more perspective than Eli, the "journalist."
http://thomas.loc.gov/cgi-bin/bdquery/z?d109:SN00190:@@@P
Eli, do you do any original reporting? You're as radioactive as Josh Feit and ECB.
What does Cumo have to do with this? He 'regulated' F and F through HUD to increase home loans to the poor in the name of social engineering and Bushie sold it as the Ownership Society. Both parties hands are filthy.
Got Socialism?
With John McCain and his henchman Karl Marx Rove you do!
It's what they're about - Socialism, for the Party Elites, paid for by the middle class taxpayers who don't deserve tax cuts.
Still, not nearly as obnoxious as Franklin Rains's massive payola to Obama. Nor as obnoxious as Barney Frank saying the institution was alive, well, and solvent.
FASCISM is the merger of government & corporate power. this is FASCISM, not socialism.
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