The first rule of American Politics, Don't Fuck with the New York Times
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.”
Rule Two: Don't fuck with the New York Times
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.
DIGG IT
Rule Three: Don't Fuck with the New York Times
They said Mr. Davis’s his firm, Davis & Manafort, was kept on the payroll because of Mr. Davis’s close ties to Mr. McCain, the Republican presidential nominee, who was widely expected by 2006 to run again for the White House....
Freddie Mac’s roughly $500,000 in payments to Davis & Manafort began immediately after Freddie Mac and Fannie Mae in late 2005 disbanded an advocacy coalition that they had set up and hired Mr. Davis to run, the people familiar with the arrangement said....
Rule Four: Don't FUCK With the New York Times
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...
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.
Ben Smith says
It's harder to attack the messenger when day two is this strong.
Let's see them fuck with the New York TImes again shall we?
And Oh BTW, Freddie Mac is now under investigation by the FBI...
Sources say FBI investigating Fannie Mae, Freddie Mac, Lehman Brothers and AIG.
And more on the FBI Investigation
Two law enforcement officials said Tuesday the FBI is looking at potential fraud by mortgage finance giants Fannie Mae and Freddie Mac, and insurer American International Group Inc.
The inquiries will focus on the financial institutions and the individuals that ran them, the senior law enforcement official said.
Questions for McCain/Davis:
- What did Freddie Mac expect from this purchased access to Senator McCain?
- What did Freddie Mac receive from this purchased access to Senator McCain?
- Will Senator McCain and Ric Davis cooperate with the FBI in its investigation of Freddie Mac?
- What other business contacts does Richard F. Syron have with John McCain and Rick Davis?
- Will Senator McCain and Rick Davis come clean on conflicts of interest?
- Will Rick Davis resign from the campaign after publicly shaming his candidate this way?
- Why won't John McCain fire Rick Davis from his campaign?
- Did Rick Davis Lobby or Consult Freddie Mac (article says Consult; Campaign denies Lobbying)?
- Why did the payment continue, even into last month, and what was the expectation on these payments should McCain have become President?
Update: Hat tip
Rachel is on it! MUST WATCH TV!!!
Update II: Newsweek Piles On
Since 2006, the federally sponsored mortgage giant Freddie Mac has paid at least $345,000 to the lobbying and consulting firm of John McCain's campaign manager Rick Davis, according to two sources familiar with the arrangement.
But neither the Times story—nor the McCain campaign—revealed that Davis's lobbying firm, Davis Manafort, based in Washington, D.C., continued to receive $15,000 a month from Freddie Mac until last month—long after the Homeownership Alliance had been terminated. The two sources, who requested anonymity discussing sensitive information, told NEWSWEEK that Davis himself approached Freddie Mac in 2006 and asked for a new consulting arrangement that would allow his firm to continue to be paid. The arrangement was approved by Hollis McLoughlin, Freddie Mac's senior vice president for external relations, because "he [Davis] was John McCain's campaign manager and it was felt you couldn't say no," said one of the sources. [McLoughlin did not return phone calls].
Davis "doesn't do anything" for Freddie Mac. The firm "doesn't even talk to him." In addition, Freddie Mac has had no contact with Davis Manafort other than receiving monthly invoices from the firm and paying them. But the money could be perceived as helping Freddie Mac ensure a good relationship with one of McCain's top aides in the event that he became president. The payments, along with other lobbying and consulting contracts, are expected to be terminated by the new federal overseers, the sources said.
Prepayment for services to be rendered at future time? Depository accounts? Prepaying access? Hmmm...
And note, payments have STOPPED because the Government has taken over Freddie...
Question 10: Will Davis' former firm return the money to Freddie Mac (and the US Government?)