Wednesday, September 24, 2008

Trouble for McQueeg

On Sunday, McQueeg told the NY Times that his campaign manager, Rick Davis, hadn't lobbied for Fannie Mae or Freddie Mac since 2005. He then went on the campaign trail to condemn lobbyists for the 2 failed thrifts. From Roll Call:
Fannie Mae and Freddie Mac emerged as issues in the presidential race last week because of turmoil in the financial markets. In a radio address from Green Bay, Wis., on Saturday, McCain blamed the companies and their political clout for creating the housing mess now roiling Wall Street. “At the center of the problem were the lobbyists, politicians and bureaucrats who succeeded in persuading Congress and the administration to ignore the festering problems at Fannie Mae and Freddie Mac,’’ he said. “Using money and influence, they prevented reforms that would have curbed their power and limited their ability to damage our economy. And now, as ever, the American taxpayers are left to pay the price for Washington’s failure.’’
Got that? Lobbyists are the cause of the Wall Street "melt down" according to McQueeg. He might want to check his campaign manager's credentials out a little more earnestly than he picks a Vice Presidential candidate. Also from Roll Call:
The lobbying firm of Rick Davis, Sen. John McCain’s (R-Ariz.) campaign manager, remains on the payroll of mortgage giant Freddie Mac, according to two sources with knowledge of the arrangement.

The firm, Davis Manafort, has collected $15,000 a month from the organization since late 2005, when Freddie Mac and Fannie Mae dissolved a five-year-old advocacy group that Davis earned nearly $2 million leading, the sources said.

The relationship is coming to an end, however, as Fannie and Freddie’s new federal caretaker zeroes out its contracts with political consultants.

Politico has a good story on the Palindrone. Apparently she supported the "Bridge to Nowhere" for far longer than she cares to admit to today. Well, we knew that, but it went on for even longer - after McQueeg had denounced it and it had become a laughing stock for the lower 48. The nice thing about the story linked to is that A) it reveals how long she supported it, B) how she wanted to get the money while Alaska's strong men were still in Congress, C) makes clear how she kept the money rather than let it go to Katrina rebuilding and D) it explains the bridge in it's entirety to the people who have never visited Ketchikan (which, I have).

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