McCain Aide’s Firm Was Paid by Freddie Mac; McCain caught in another lie

[EV_Ares]

WASHINGTON-- 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. Mr. Davis’s firm received the payments from the company, Freddie Mac, until it was taken over by the government this month along with Fannie Mae, the other big mortgage lender whose deteriorating finances helped precipitate the cascading problems on Wall Street, the people said.

They said they did not recall Mr. Davis doing much substantive work for the company in return for the money, other than speak to a political action committee composed of high-ranking employees in October 2006 on the coming midterm congressional elections. 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.

Mr. Davis took a leave from Davis & Manafort for the duration of the campaign, but as a partner and equity-holder continues to share in its profits.

A Freddie Mac spokeswoman said the company would not comment. The McCain campaign did not respond to a request for comment.

entire article @ NY Times link: http://www.nytimes.com/2008/09/24/us/politics/w24davis.html?_r=2&hp=&adxnnl=1&oref=slogin&adxnnlx=1222213422-Ci84bMSnAx5VOW/LVCoHGA

[billyoc]

1. For non-journalists, they sure can do a story.

When they want to. :evilgrin:

[endthewar]

3. Yeah, they really nailed Rick Davis' butt here.

:rofl:

I really don't see how he can stay on as McCain's campaign manager.

[renate]

2. and Freddie Mac is one of the companies being investigated by the FBI

Not that Rick Davis necessarily had anything to do with the actual fraud. But it's kind of nice to have McCain's campaign linked with Freddie Mac. And with LYING about being linked with Freddie Mac. Which, it can't be repeated too often, is being investigated by the FBI.