Does anyone know what McCain’s chairman Rick Davis did to earn $30,000/month?
According to Andrew Sullivan, http://andrewsullivan.theatlantic.com/the_daily_dish/2008/09/rick-davis-bust.html#more
a conservative blogger who supported Bush in 2000 but broke with him when the truth came out about WMDs, "Davis did next to nothing for the money. This was classic corporate insurance, shaken down by someone in their pocket."
According to Newsweek http://www.newsweek.com/id/160561/output/print <begin quote>
Freddie Mac had previously paid an advocacy group run by Davis, called the Homeownership Alliance, $30,000 a month until the end of 2005, when that group was dissolved. That relationship was the subject of a New York Times story Monday, which drew angry denunciations from the McCain campaign. McCain and his aides have vehemently objected to suggestions that Davis has ties to Freddie Mac—an especially sensitive issue given that the Republican presidential candidate has blamed "the lobbyists, politicians and bureaucrats" for the mortgage crisis that recently prompted the Bush administration to take over both Freddie Mac and its companion, Fannie Mae, and put them under federal conservatorship.
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].
. . .
It is not unusual for major corporations to enter into consulting retainers so that individuals could be available if needed. And the two sources stressed that Davis at no time made any threats or demands on Freddie Mac. But the sources indicated that Freddie Mac seldom called on Davis or the firm. On one occasion, Davis was asked to attend a meeting of the firm’s political action committee during the 2006 campaign in order to give the Republican Party’s perspective on the upcoming elections. In addition, Davis did meet with McLoughlin for breakfast on "one or two" occasions. Other than that, one source said, 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.
So anyway, Newsweek is not the be-all and end-all of journalism, so if anyone knows what Davis has done for all the money paid to him by Freddie Mac, can you please answer here and enlighten us?
- – - Responses to Commenters – - -
rdwain2000: I am familiar with Obama’s connections to Freddie and Fannie and I’ll happily contrast them with McCain’s. See http://voices.washingtonpost.com/fact-checker/2008/09/obamas_fannie_mae_connection.html and http://wire.factcheck.org/2008/09/19/freddie-fannie-and-barack-%E2%80%94-corrected/
Amazingkarma: I think you’re confused about the sarin and mustard gas. There are hundreds of tons we expected to find and cannot account for, but near zero found. I would love to see a link to a real news article about the finding of hundreds of tons of sarin and mustard gas. Link please?
Miss Kitty: The McCain camp isn’t disputing this. Only you are…
IT prove that McCain is no stranger to curruption shall we say deja vue keaton five .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,