CommunityFDL Main Blog

McCain’s Lobbyist Cronies: Their Deregulation Push Set The Stage For The Meltdown

You just knew that Rick Davis, uber-lobbyist and long-time McCain yacht-hopping crony, was right in the thick of this financial mess, didn’t you? A power-lobbyist with that many fingers in that many money pies can’t help himself, especially when his political patron helmed the Senate Commerce Committee when those corporate lobbying dollars needed spending.

And here he is:

…several current and former executives of the companies came forward to discuss the role that Rick Davis, Mr. McCain’s campaign manager and longtime adviser, played in helping Fannie Mae and Freddie Mac beat back regulatory challenges when he served as president of…the Homeownership Alliance, formed in the summer of 2000…. 

"The value that he brought to the relationship was the closeness to Senator McCain and the possibility that Senator McCain was going to run for president again,” said Robert McCarson, a former spokesman for Fannie Mae, who said that…Fannie Mae and Freddie Mac together paid Mr. Davis’s firm $35,000 a month….

Proximity to power is the lobbyist’s chief marketing tool.  Access is everything.  Rick Davis’ chief political patron?  John McCain.

How much did Davis use his proximity to McCain to reel in clients?  What did he promise them from McCain?  Did McCain turn a blind eye to what his lobbyist pals were doing, using his power as their lure for this K Street tap dance to succeed?  Why?  How much money from these groups found its way into McCain’s campaign coffers?  

And not just Davis, but Phil GrammCharlie Black…and loads more.   What about the potential that this lobbying money and influence bought our way into the current deregulated mess — at a time when McCain would have been steering the Senate Commerce Committee and gearing up for another presidential run?

It’s not just the reckless lying, and rampant finger-pointing, it’s also the stench of cronied self-dealing emanating from McCain’s Lobbyist Express

Previous post

Did John McCain Almost Bankrupt Arizona With His Electric Cars?

Next post

Oh, THAT Kind of Financial Incentive

Christy Hardin Smith

Christy Hardin Smith

Christy is a "recovering" attorney, who earned her undergraduate degree at Smith College, in American Studies and Government, concentrating in American Foreign Policy. She then went on to graduate studies at the University of Pennsylvania in the field of political science and international relations/security studies, before attending law school at the College of Law at West Virginia University, where she was Associate Editor of the Law Review. Christy was a partner in her own firm for several years, where she practiced in a number of areas including criminal defense, child abuse and neglect representation, domestic law, civil litigation, and she was an attorney for a small municipality, before switching hats to become a state prosecutor. Christy has extensive trial experience, and has worked for years both in and out of the court system to improve the lives of at risk children.

Email: reddhedd AT firedoglake DOT com