Freddie Mac's special friend
John McCain's campaign was all gung-ho to portray Barack Obama as a tool for special interests in the financial industry. They put out guilt-by-association ads and everything was going just great...but while McCain was swinging wildly at Obama, one of those swings boomeranged back to punch McCain.
The New York Times revealed that Rick Davis, McCain's own campaign manager, was taking $15,000 a month from Freddie Mac for lobbying services.
"McCain Aide’s Firm Was Paid by Freddie Mac"
From the New York Times: "WASHINGTON — One of the giant mortgage companies at the heart of the credit crisis paid $15,000 a month from the end of 2005 through last month to a firm owned by Senator John McCain’s campaign manager, according to two people with direct knowledge of the arrangement.
The disclosure undercuts a statement by Mr. McCain on Sunday night that the campaign manager, Rick Davis, had had no involvement with the company for the last several years. [..]"
Yeah right, that last statement was a downright lie...but hey, semantics. Newsweek ran with this scoop as well:
"But neither the Times story—nor the McCain campaign—revealed that Davis's lobbying firm, Davis Manafort, based in Washington, D.C., continued to receive $15,000 a month from Freddie Mac until last month—long after the Homeownership Alliance had been terminated."
Why was Freddie Mac paying Rick Davis's lobbying firm $15 THOUSAND a MONTH until 24 days ago? Was he on the payroll just because of his relationship with McCain?
The Homeownership Alliance, which Davis headed, was created by Fannie and Freddie to curtail too much regulation on the two GSEs.
And with Freddie and Fannie now under investigation by the FBI for unspecified "fraud"...Davis' retainer will surely be questioned.
Whatever will come to light next?
