carlsonjok
Posts: 3326
Joined: May 2006
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Can anyone tell me what planet Davescot lives on?
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21
DaveScot
09/23/2008
8:07 pm
Just announced:
FBI is investigating Fannie Mae, Freddie Mac, AIG, and Lehman for fraud.
Obama has been deeply connected with these companies and their upper management for decades. Can’t wait to see what the FBI uncovers. |
Ignoring that Obama is 44 and, if he had been in these guys pockets for "decades", his involvement with their upper management extended back into his days as a community agitator organizer, I would ask Dave one question: What was McCain campaign manager Rick Davis' day job?
Ruh-roh, Shaggy!! The money shots:
| Quote | 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.
.......
They said they did not recall Mr. Davis’s doing much substantive work for the company in return for the money, other than 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 Mr. Davis’s close ties to Mr. McCain, the Republican presidential nominee, who by 2006 was widely expected to run again for the White House.
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Freddie Mac’s roughly $500,000 in payments to Davis & Manafort began immediately after Freddie Mac and Fannie Mae in late 2005 disbanded an advocacy coalition that they had set up and hired Mr. Davis to run, the people familiar with the arrangement said.
From 2000 to the end of 2005, Mr. Davis had 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 were their downfall.
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And that is only the tip of the iceberg. Google up McCain advisor Phil Gramm's role in banking deregulation sometime.
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It's natural to be curious about our world, but the scientific method is just one theory about how to best understand it. We live in a democracy, which means we should treat every theory equally. - Steven Colbert, I Am America (and So Can You!)
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