Boo-hoo. Two lobbyists lose jobs at Freddie Mac

[babylonsister]

Two lobbyists lose jobs at Freddie Mac
By Ian Swanson
Posted: 09/26/08 02:27 PM


Freddie Mac announced Friday it was laying off two of its top lobbyists in the wake of the financial crisis and the mortgage giant’s takeover this month by the government.

Lobbyists Tim McBride and Rob Zimmer are leaving the mortgage company, which has eliminated their positions, according to an e-mail from the company’s chief executive officer, David Moffett. McBride served as senior vice president for government and industry affairs, while Zimmer was vice president for federal government affairs.

The e-mail noted that Freddie Mac’s government and industry relations division was ceasing all lobbing activities and is “being fundamentally repurposed, refocused and, as a result, reduced in size.”

It’s unclear whether the rest of Freddie Mac’s lobbying team is also being let go. In the second quarter of 2008, Freddie Mac reported $2.29 million in lobbying expenses, and listed eight registered lobbyists, including Zimmer and McBride.

One source familiar with the mortgage giant said it was repositioning itself as a government entity that would continue to have to work with Congress.

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