McCain Aide’s Firm Was Paid by Freddie Mac

[Faygo Kid]

Source: New York Times

WASHINGTON-- 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, the Republican presidential nominee, who was widely expected by 2006 to run again for the White House.

Mr. Davis took a leave from Davis & Manafort for the duration of the campaign, but as a partner and equity-holder continues to share in its profits.

A Freddie Mac spokeswoman said the company would not comment. The McCain campaign did not respond to a request for comment. . .



Read more: http://www.nytimes.com/2008/09/24/us/politics/w24davis.html?hp

---

Wow. The greedy chickens are coming home to roost.

[Indenturedebtor]

1. Now how will the other media cover it though? Will they? n/t

[undergroundrailroad]

2. This is astonishing news as much as Watergate was "news". So yes, I think they will.

[CountAllVotes]

5. throw in the FBI

and I believe you may be quite right!

:kick:

[TahitiNut]

43. The media was far less consolidated and more autonomous in 1974 than it is today.

Then again, they're split on the right these days, too. :shrug:

Hi, mina!! :hi: :hug:

[undergroundrailroad]

46. Hello there!

:hug: :hi:

[BigD_95]

41. they wont

[truthisfreedom]

3. When nobody will comment, you know there's trouble brewing.

This is great timing... on a TUESDAY nonetheless. Excellent. Keep McCorrupt in the news as a sold-out, cronie-surrounded flip-flopper.

[Faygo Kid]

4. That's what struck me, as well. No comment.

I'm sure it's much worse than the cowed Times lets on. But still, this is something.

[CountAllVotes]

6. maybe they cannot comment

being they are being investigated for fraud, it might not be a very good idea at the moment!

:mad:

:kick:

[kirby]

7. Where have you been all week? They headed this off early by

claiming the NY Times was out to get them. That was their 'preemptive' tactic to counter this reporting. They have been bashing NY Times all week.

[Faygo Kid]

8. Won't work. Not this time.

I hope.

[tpsbmam]

37. Unacceptable.....we're paying their bills now.....

Absolute open books on all lobbying activity, executive compensation, and other nefarious activities.

[Zenlitened]

9. John McCain is a disgrace. An absolute disgrace.

[maddezmom]

10. can't wait to hear McGrumpy explain this away

Payments continued for what?? Because he's on the McCain campaign???

[IndianaGreen]

11. Newsweek: Freddie's Friend

Freddie’s Friend

Freddie Mac continued checks to McCain campaign chief's firm.

By Michael Isikoff | Newsweek Web Exclusive
Sep 23, 2008 | Updated: 7:39 p.m. ET Sep 23, 2008

Since 2006, the federally sponsored mortgage giant Freddie Mac has paid at least $345,000 to the lobbying and consulting firm of John McCain's campaign manager Rick Davis, according to two sources familiar with the arrangement.

Freddie Mac had previously paid an advocacy group run by Davis, called the Homeownership Alliance, $30,000 a month until the end 2005, when that group was dissolved. That relationship was the subject of a New York Times story Monday, which drew angry denunciations from the McCain campaign. McCain and his aides have vehemently objected to suggestions that Davis has ties to Freddie Mac—an especially sensitive issue given that the Republican presidential candidate has blamed "the lobbyists, politicians and bureaucrats" for the mortgage crisis that recently prompted the Bush administration to take over both Freddie Mac and its companion, Fannie Mae, and put them under federal conservatorship.

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. The two sources, who requested anonymity discussing sensitive information, told NEWSWEEK that Davis himself approached Freddie Mac in 2006 and asked for a new consulting arrangement that would allow his firm to continue to be paid. The arrangement was approved by Hollis McLoughlin, Freddie Mac's senior vice president for external relations, because "he was John McCain's campaign manager and it was felt you couldn't say no," said one of the sources. .

http://www.newsweek.com/id/160561

[maddezmom]

12. WP: McCain Aide's Firm Was Paid Recently

McCain Aide's Firm Was Paid Recently
Davis Said Work for Freddie Had Ceased


By Michael D. Shear
Washington Post Staff Writer
Wednesday, September 24, 2008; Page A06

The lobbying firm founded by Rick Davis, the campaign manager for Sen. John McCain's White House bid, was paid for work on behalf of Freddie Mac in recent months, despite assertions by Davis earlier this week that his work for the firm had ended three years ago, according to reports yesterday.

Two unidentified sources told Roll Call newspaper yesterday that Davis's firm, Davis Manafort, continues to receive $15,000 per month from the mortgage giant, one of several financial institutions at the center of the nation's housing crisis.

Another report by the New York Times said the payments to the firm stopped last month. Both reports appear to contradict Davis, who told reporters on a conference call this week that his firm had not done work for Freddie Mac for roughly a year and a half.

But an industry source told the Post last night that Davis Manafort continued to receive payments in the $15,000 range from Freddie Mac until recently, describing the relationship as one in which the firm was on retainer and did little actual work after early 2007.

McCain spokesperson Jill Hazelbaker did not dispute the reports, saying in a statement to the Times that Davis's work had no bearing on McCain.

more:http://www.washingtonpost.com/wp-dyn/content/article/2008/09/23/AR2008092303359.html?hpid=topnews

[OakCliffDem]

13. K & R

[Amerigo Vespucci]

14. Freddie Mac Paid McCain Campaign Manager's Firm Through last Month

Source: The Huffington Post

Two reports tonight, one from the New York Times, and the other from Newsweek, contradict John McCain's earlier statement that his campaign manager Rick Davis had no involvement with mortgage giant Freddie Mac, one of the companies at the heart of the current financial crisis, for the last several years. The Times reports:

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...

...On Sunday, in an interview with CNBC and The New York Times, Mr. McCain responded to a question about Mr. Davis's role in the advocacy group through 2005 by saying that his campaign manager "has had nothing to do with it since, and I'll be glad to have his record examined by anybody who wants to look at it."



Read more: http://www.huffingtonpost.com/2008/09/23/freddie-mac-paid-mccain-c_n_128770.html

[Tandalayo_Scheisskopf]

15. This is why they have been so pissed off at the press in general...

And the NYT in particular. They knew this story was in the pipeline. Also, we now know why they are keeping the press away from McFeeb: to keep them from asking questions about Davis.

If I was smarter than I am, I would say they have thrown in the towel on this dog of a candidacy, but don't want to admit it publically.

[Amerigo Vespucci]

16. The whole HuffPo piece is a must-read...

...especially in recapping McCain's repeated slams against Obama on the subject.

:patriot:

[WheelWalker]

17. K&r

:kick:

[DeltaLitProf]

18. If this had happened to a Democrat . . .

. . . this thing would be over. There would be calls for the second-place finisher to replace the nominee.

[phrigndumass]

19. K & MR ... "by anybody who wants to look at it"

The MSM better look at it!

[IllinoisBirdWatcher]

20. Bombard the Traditional Media with this

Email and call every news outlet.

McCain just out-and-out LIED on national TV,

Once again, an example of the McShame lack of judgment, and more than that his DISHONORABLE campaign.

Shame on McShame.

[amitten]

21. Now, this is a very big deal with legs.

McCain can't win.

[proud progressive]

26. been saying that for 6 months about the sob

but the morons in this country don't seem to give a rat's ass!

[EFerrari]

22. Amy had this in her headlines this morning. n/t

[JCMach1]

23. This is a very big deal in the current environment...

[mzmolly]

24. This "crisis" is looking more and more

"convenient" isn't it?

[The Woodpecker]

25. He will just return the money and say he had no knowledge of it being paid.

[lonestarnot]

27. It doesn't matter what fucking liars say any more the truth is getting out!

So what another lie is supposed to stop it? :rofl:

[CalJen]

28. Are we sure they stopped paying this month?

Inquiring minds want to know....

[JonLP24]

29. What I want to know, if true why did they suddenly start funding him

shortly before this collapse. Inquiring minds would like to know.

[Hubert Flottz]

30. McCain is another liar just like the one in the White House right now.

And you see the path that the present misleader/clown has led America down with his constant 8 year stream of bullshit and bombast.

I shudder to think of the criminals that McCain would install in the government if he's given the chance.

[1Hippiechick]

31. We ALL should attempt to put this on the opinion page of our local newspapers. I live in a RED area

but I will definitely attempt to get this printed! It won't show up otherwise.

Proudly rated this a MUST READ

[OakCliffDem]

32. K & R

[Ganja Ninja]

33. "for apparently no other work than for him to provide special access"

"to a future McCain White House"

$15 grand a month!

"That ain't workin' that's the way you do it
Money for nothin' and chicks for free
Now that ain't workin' that's the way you do it
Lemme tell ya them guys ain't dumb"

[Life Long Dem]

35. It seems that - like Bush - everything McSame says is a lie.

[WillyT]

34. Big K & R !!!

:kick:

[Zynx]

36. This is huge news.

McCain is seriously unraveling in a sea of untruths.

[DesertRat]

38. kick!

[happygoluckytoyou]

39. NOTE ON PRESIDENTS DESK: List of things to discuss after Nov 4

[sohndrsmith]

40. The media should *not* let this slide...

From the Huffington Post article (I haven't figured out how to insert links yet - sorry):

"...Davis's firm, the Washington, D.C. based lobbying firm Davis Manafort, continued to receive $15,000 a month from Freddie Mac until last month-long after the Homeownership Alliance had been terminated."

So, all of 2006, all of 2007 and nine months in 2008 = 33 months x 15K = $495,000
For doing WHAT, exactly? Offering a potential "in" should McCain win the presidency? Along with everything else that is seriously disturbing about this entire issue, that's a hefty price for something that may not happen.... yikes.

I'm astounded that McCain is still a viable candidate... I really am. I've never seen a campaign implode so dramatically - and on a daily basis. I am amazed that he is considered legitimate in spite of it all. It doesn't make sense.

[izquierdista]

42. And yet.....

According to the commercial I saw last night, Obama has been getting bad advice from someone at Freddie Mac and those two scary Negroes are putting little old white ladies at risk -- not ready to lead, it said. :scared: :scared: :scared: :scared: :scared: :scared:

[SemperEadem]

44. They paid for access

and that is called "Influence Peddling" or in the crude vernacular, "big pimpin', s0n".

[Birthday]

45. I feel the Earth move under my feet... n/t