Well, here we go again. Another example of McCain touting his “holier than thou” credentials which can’t be backed up by facts.
Freddie Mac, one of the giant mortgage companies at the heart of the credit crisis, paid $15,000 a month from the end of 2005 through August to Davis Manafort, a firm owned by Sen. John McCain’s campaign manager, Rick Davis. However, McCain has defended his campaign manager by stating Rick Davis has had no involvement with the lobbying group for several years.
McCain’s campaign has been attacking 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. Freddie Mac’s payments of roughly $500,000 to Davis Manafort began in late 2005, immediately after Freddie Mac and Fannie Mae disbanded an advocacy coalition that they had set up and hired Davis to run.
Photo Credit: Associated Press
From 2000 to the end of 2005, 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, according to the report.
So, let me get this straight. While McCain brandishes his efforts to regulate the mortgage giants to “save” the little people, his campaign manager was taking money to lobby against regulation? Oh, what a tangled web we weave.