« Study Exposes GOP Lies About Effectiveness of Surge | Main | Home Foreclosures & The Penthouse Pet »

$2 Million John McCain Fannie Mae Influence Peddling Scheme Exposed

The serial lies (and blatant race card) played by the McCain campaign has only served to expose the rank hypocrisy of John McCain. It turns out that top McCain adviser Rick Davis was paid $30,000 a month for a period of five years -- a staggering total approaching $2 million -- and he did nothing to earn that money besides use his close association to John McCain.

[...] [L]ast week the McCain campaign stepped up a running battle of guilt by association when it began broadcasting commercials trying to link Mr. Obama directly to the government bailout of the mortgage giants this month by charging that he takes advice from Fannie Mae's former chief executive, Franklin Raines, an assertion both Mr. Raines and the Obama campaign dispute.

Incensed by the advertisements, several current and former executives of the companies came forward to discuss the role that Rick Davis, Mr. McCain's campaign manager and longtime adviser, played in helping Fannie Mae and Freddie Mac beat back regulatory challenges when he served as president of their advocacy group, the Homeownership Alliance, formed in the summer of 2000. Some who came forward were Democrats, but Republicans, speaking on the condition of anonymity, confirmed their descriptions.

"The value that he brought to the relationship was the closeness to Senator McCain and the possibility that Senator McCain was going to run for president again," said Robert McCarson, a former spokesman for Fannie Mae, who said that while he worked there from 2000 to 2002, Fannie Mae and Freddie Mac together paid Mr. Davis's firm $35,000 a month. Mr. Davis "didn't really do anything," Mr. McCarson, a Democrat, said.

Money for nothing? Influence peddling by John McCain's adviser amounting to millions of dollars, and McCain has surrounded himself with these lobbyists -- they literally run his campaign.

And it's the height of hypocrisy for John McCain to attempt to link Obama to Fannie Mae. McCain's lies have been exposed, and we now see the extent to which McCain has been deeply involved in a multi-million influence peddling scheme, with top McCain advisers receiving millions of dollars.

Update: The McCain campaign responded -- without uttering one word of denial:

John McCain's campaign stepped up its assault on the media today as its chief strategist denounced the New York Times.

The broadside was prompted by a Times report saying that campaign manager Rick Davis had been paid nearly $2 million by mortgage giants Fannie Mae and Freddie Mac to protect them against stricter regulations. Davis is no longer a lobbyist.

In a conference call with reporters, chief strategist Steve Schmidt said: "Whatever the New York Times once was, it is today not by any standard a journalistic organization. It is a pro-Obama advocacy organization. This is an organization that is completely, totally, 150 percent in the tank for the Democratic candidate."

Not one word of denial -- just whining....

I'm not surprised that the campaign that calls Americans a bunch of whiners would itself end up being big whiners themselves. Stamp your feet and complain that it's just not fair, Senator McCain -- let some of that legendary anger of yourself erupt inappropriately. We all know it's there...

Note: Wizbang Blue is now closed and our authors have moved on. Paul Hooson can now be found at Wizbang Pop!. Please come see him there!

  • Currently 3/5
  • 1
  • 2
  • 3
  • 4
  • 5
Rating: 3/5 (20 votes cast)


Send e-mail tips to us:

[email protected]





Add to Technorati Favorites


Publisher: Kevin Aylward

Editors: Lee Ward, Larkin, Paul S Hooson, and Steve Crickmore

All original content copyright © 2007 by Wizbang®, LLC. All rights reserved. Wizbang® is a registered service mark. Wizbang Blue™ is a trademark of Wizbang®, LLC.

Powered by Movable Type 3.35

Hosting by ServInt

Ratings on this site are powered by the Ajax Ratings Pro plugin for Movable Type.

Search on this site is powered by the FastSearch plugin for Movable Type.

Blogrolls on this site are powered by the MT-Blogroll.

Temporary site design is based on Cutline and Cutline for MT. Graphics by Apothegm Designs.