McCain campaign manager paid by Freddie Mac until last month; undercutting a McCain statement

[dajoki]

McCain Aide’s Firm Was Paid by Freddie Mac
By JACKIE CALMES and DAVID D. KIRKPATRICK
Published: September 23, 2008
http://www.nytimes.com/2008/09/24/us/politics/w24davis.html?_r=1&hp&oref=slogin

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.

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’s doing much substantive work for the company in return for the money, other than speak to a political action committee of high-ranking employees in October 2006 on the approaching midterm Congressional elections. They said Mr. Davis’s firm, Davis & Manafort, had been kept on the payroll because of Mr. Davis’s close ties to Mr. McCain, the Republican presidential nominee, who by 2006 was widely expected to run again for the White House.

Mr. Davis took a leave from Davis & Manafortfor the presidential campaign, but as a partner and equity-holder continues to benefit from its income. No one at Davis & Manafort other than Mr. Davis was involved in efforts on Freddie Mac’s behalf, the people familiar with the arrangement said.

[dajoki]

1. kick

[dajoki]

2. "This Is HUGE - and It SHOULD End McCain's Bid for the Presidency"

Maryscott OConnor's blog
This Is HUGE - and It SHOULD End McCain's Bid for the Presidency
by Maryscott OConnor | September 24, 2008 - 12:18am
http://www.smirkingchimp.com/thread/17391

John McCain's CAMPAIGN MANAGER, Rick Davis took a leave of absence -- that is, he "stopped taking a salary" -- from his lobbying firm in 2006... but that firm has been accepting FIFTEEN THOUSAND DOLLARS a MONTH until... http://www.nytimes.com/2008/09/24/us/politics/w24davis.html?_r=3&hp&oref=slogin&oref=slogin&oref=slogin

LAST MONTH. For, apparently, no reason. No work has been done by Davis's firm on behalf of Freddie Mac since Davis "stopped drawing a salary." John McCain and his campaign claimed as recently as TWO DAYS AGO that Rick Davis has NOTHING TO DO with Freddie Mac. Nothing. And that he has NEVER lobbied for Freddie Mac.

Why was Freddie Mac paying Rick Davis's lobbying firm $15 THOUSAND a MONTH until 24 days ago? http://www.newsweek.com/id/160561

THIS IS FUCKING HUGE.

No, seriously. If this is not THE NUMBER ONE STORY in the media this week, there is something VERY VERY VERY wrong with the media and with us for not MAKING them cover it as the NUMBER ONE STORY.

Because THIS IS FUCKING HUGE.

Connect the dots: McCain... Rick Davis... Freddie Mac... FINANCIAL APOCALYPSE... Government Bail Out.

John McCain = CORRUPTION

He has two choices (aside from simply throwing his hands in the air and admitting to the American people that his campaign is a disaster and, further, properly reflects what his Administration would look like): Either he throws Davis under the bus and claims total ignorance -- which makes him look... totally ignorant; or they circle the wagons and McCain marches into the Valley of Death with a huge, flashing red sign over his head that says: MOST CORRUPT CANDIDATE EVER. And a tattoo on his forehead that reads: PROPERTY OF FREDDIE MAC.

Naturally, it appears the McCain campaign has opted for the latter approach. And the only thing standing between their SUCCEEDING at this outrageous tack and the whole goddamned country erupting into Watergate-sized horror at this... is the media -- and us.