Showing posts with label rick davis freddie mac. Show all posts
Showing posts with label rick davis freddie mac. Show all posts

Wednesday, September 24, 2008

McCain Camp Complains About NYT

The McCain camp complains about the NYT investigation into Rick Davis' ties with Freddie Mac but doesn't offer up any proof to the contrary and doesn't say the story is not true, only that it is a partisan attack. He said it was "demonstrably false." If so, demonstrate. But they didn't bother. They're just whining. 
After the republicans have run a vast underground smear campaign against Obama for at least the past year with their Web sites, and their hate email, their hate radio, and their constant stream of books that lie about Obama and spew hate, I'd say that the McCain camp needs to be drilled like an oil well. Drill Baby Drill. Go deep.  
As far as I can tell, just about everything McCain says is a lie, and the campaign doesn't seem to care about facts. In fact, they've stated that facts are on the sideline. They're out to win an election. Country First.
CNN: A senior McCain aide reacted to the latest New York Times investigation into a top campaign advisor Wednesday with a scathing memo that called the Times a “failing business” and the allegation “demonstrably false.”

The story, which charges that a firm formerly headed by campaign manager Rick Davis had received a monthly $15,000 retainer from mortgage giant Freddie Mac until the government took it over this month – is “a partisan attack falsely labeled as objective news” from “an Obama advocacy organization,” wrote McCain spokesman Michael Goldfarb.

The paper, said Goldfarb, “obscures its true intentions — to undermine the candidacy of John McCain and boost the candidacy of Barack Obama — under the cloak of objective journalism.”

Tuesday, September 23, 2008

McCain's Lies Again: Aide Linked to Freddie

McCain is knee-high in the slime, in danger of going under.
His republican wingnuts also have raised the bar in attack ads, exploiting race and trying to paint Obama as scary.
Want some commentary on McCain's latest bold lie about his campaign manager Rick Davis, Steve R has it right. Here's what the NYT found: 
WASHINGTON — One of the giant mortgage companies at the heart of the credit crisis paid $15,000 a month from the end of 2005 through last month to a firm owned by Senator John McCain’s campaign manager, according to two people with direct knowledge of the arrangement.

The disclosure undercuts a remark by Mr. McCain on Sunday night that the campaign manager, Rick Davis, had 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 two people said.

They said they did not recall Mr. Davis’s doing much substantive work for the company in return for the money, other than to speak to a political action committee of high-ranking employees in October 2006 on the approaching midterm Congressional elections. They said Mr. Davis’s firm, Davis Manafort, had been kept on the payroll because of his close ties to Mr. McCain, the Republican presidential nominee, who by 2006 was widely expected to run again for the White House.

Mr. Davis took a leave from Davis Manafort for the presidential campaign, but as an equity holder continues to benefit from its income. 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.

A Freddie Mac spokeswoman said the company would not comment.

Jill Hazelbaker, a spokeswoman for the McCain campaign, did not dispute the payments to Mr. Davis’s firm. But she said that Mr. Davis had stopped taking a salary from the firm by the end of 2006 and that his work did not affect Mr. McCain.

“Senator McCain’s positions on policy matters are based upon what he believes to be in the public interest,” Ms. Hazelbaker said in a written statement.

The disclosure comes at a time when Mr. McCain and his Democratic rival, Senator Barack Obama, are sparring over ties to lobbyists and special interests, seeking political advantage in a campaign being reshaped by the financial crisis and the plan to bail out investment firms.

Mr. McCain’s campaign has been attacking Mr. Obama for ties to former officials of the mortgage giants, both of which have a long history of cultivating Democratic and Republican allies alike to fend off efforts to restrict their activities. Mr. McCain has been running a television advertisement suggesting that Mr. Obama takes advice on housing issues from Franklin D. Raines, former chief executive of Fannie Mae, a contention denied by Mr. Raines and the Obama campaign.

Freddie Mac’s payments of roughly $500,000 to Davis Manafort, the people familiar with the arrangement said, began in late 2005, immediately after Freddie Mac and Fannie Mae disbanded an advocacy coalition that they had set up and hired Mr. Davis to run.

From 2000 to the end of 2005, Mr. Davis received nearly $2 million as president of the coalition, the Homeownership Alliance, which the companies created to help them oppose new regulations and protect their status as federally chartered companies with implicit government backing. That status let them borrow cheaply, helping to fuel rapid growth but also their increased purchases of the risky mortgage securities that proved to be their downfall.

See McCain lie! See Rachel Maddow take him to task!