Several years ago, John McCain (V. 2000) was apparently becoming too lippy about executive pay for some big wigs' comfort. When one mortgage conglomerate caught wind, it identified someone "known for his closeness to McCain" and hired him to work on the Senator. And work on him he did. That someone they identified is a "longtime McCain advisor who had been staff director of the Senate commerce committee" named Mark Buse. Today, Buse is chief of staff at McCain's Senate office. Round and round we go...
When mortgage giant Freddie Mac feared several years ago that Sen. John McCain was too outspoken on the issue of executive pay, it pinpointed a lobbyist known for his closeness to McCain and hired him to work with the senator.
Mark Buse, a longtime McCain adviser who had been staff director of the Senate commerce committee, signed on as a Freddie Mac lobbyist, and his firm, ML Strategies, earned $460,000 in lobbying fees in late 2003 and 2004, according to lobbying disclosures. Buse is now chief of staff at McCain's Senate office.
To sum:
- An accomplished Freddie Mac Lobbyist with highly-chummy ties to McCain is tapped to schmooze McCain.
- A smitten McCain taps said lobbyist to become CHIEF OF STAFF of the Republican Nominee's Senate office.
- Fannie Mae and Freddie Mac fail, bringing the US economy to the brink
McCain's Mortgage Giant Sugar Daddy was a shining star in what was an enormous effort by Freddie Mac to curry politician favors. The transition to McCain's office was a natural fit and a homecoming of sorts:
Buse was one of many strategic hires made by Freddie Mac in its efforts to sew up support and manage opponents on Capitol Hill, a push that peaked in 2004 with the retention of 34 outside lobbying firms. Over the past decade, Freddie spent more than $95 million on lobbying, while its sister company, Fannie Mae, spent more than $79 million.
McCain's incestuous relationships with lobbyists and other sleazy types are so pronounced, I have to wonder if McCain's moral compass points to Mobster. Mario Puzo himself couldn't write this stuff:
"Senator McCain was talking about limiting executive compensation, and Buse was retained to nip that in the bud," said a former lobbyist who insisted on anonymity because of continuing relationships with the companies.
The commerce committee, which McCain chaired, considered taking up legislation to address Fannie and Freddie in 2003 but refrained from doing so because it lacked jurisdiction, Rogers said.
McCain continued to talk about the compensation issue. But inside Freddie Mac, Buse's effort was viewed as "hugely successful," a former Freddie Mac lobbyist said. "The statements didn't go away completely, but in terms of Senator McCain doing anything about it, it just never materialized. As far as I know, Buse was the only person working that issue for Fannie or Freddie, so he got a lot of credit internally for the results."