NYT: McCain lied about campaign manager Rick Davis' ties to Fannie and Freddie

[deminks]

A rather thick article from the NYT, but the gist of it is that McCain on Sunday night said that his campaign manager, Rick Davis, who was paid $2m by Fannie and Freddie to help keep them deregulated, had nothing to do with either group since he left their employ in 2005. Not true, we learn, via the NYT.

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.

(snip)

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 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.”

After the Homeownership Alliance was dissolved, Mr. Davis asked to stay on a retainer, the people familiar with the deal said. Hollis McLoughlin, who was chief of staff to Richard F. Syron, Freddie Mac’s chief executive, arranged for a new contract with Davis & Manafort, at the reduced rate of $15,000 a month...

So, McCain said on Sunday that Davis had nothing to do with Fannie and Freddie after he left their employ at the end of 2005. Now we learn that, in fact, Davis continued to be on retainer with Freddie, and then when he was forced to take a leave from his company because of having joined McCain's campaign (though he continues to share in the firm's profits), the company continued to take money from Freddie until this month. While the Roll Call story we published earlier did have the information about Davis' ongoing ties, they didn't clearly explain that this means McCain lied on Sunday. Or, again, he's so confused nowadays that he simply doesn't know what is going on around him.

(end snip)

http://www.americablog.com/2008/09/nyt-mccain-lied-about-campaign-manager.html

[Olney Blue]

1. How can any American consider voting for another Republican?

[Marsala]

2. The NYT continues its vicious attack of truth and fairness upon McCain

How dare they report the facts?!

[OakCliffDem]

3. K & R

[Ghost in the Machine]

4. Is anyone surprised?? Republicans lie, republicans cheat, republicans steal..

republicans like to fuck children (http://www.republicansexoffenders.com)

It's the republican way...

[DCKit]

5. Now, now. Can't paint them with the broad-brush.

Some Republics are omniphiles - they'll fuck ANYTHING.

[Ghost in the Machine]

7. My bad.... you're right....

:hi:

[spanone]

6. he lied bigtime, that's what republicans do.

[lpbk2713]

8. That tends to pee in the RW Radio Hatemongers' Wheaties ... LOL

They want us all to believe Fannie & Freddie are vast LW conspiracies now that the corrupt and criminal BushCo Regime's economy has fallen, as predicted, on its pasty white duff. It's funny how when talking about Fannie & Freddie the RW Radio Hatemongers omit the fact that the party they represent had full power over all three branches of the government for seven damn years. They could have created a paradise in that time but instead they chose to bankrupt the whole country and the ripple effect brought down the rest of the world with us. And as is their custom, when they get caught in a major fuggup they point fingers in every direction except for at themselves.