McCain's letter to Obama in 2006...

[posty 2,700]

http://www.cbsnews.com/stories/2006/02/07/...in1289745.shtml

 

(CBS) The following is Sen. John McCain's letter to to Sen. Barack Obama regarding ongoing Congressional efforts towards bipartisan lobbying reform:

 

February 6, 2006

 

The Honorable Barack Obama

United States Senate

SH-713

Washington, DC 20510

 

Dear Senator Obama:

 

I would like to apologize to you for assuming that your private assurances to me regarding your desire to cooperate in our efforts to negotiate bipartisan lobbying reform legislation were sincere. When you approached me and insisted that despite your leadership’s preference to use the issue to gain a political advantage in the 2006 elections, you were personally committed to achieving a result that would reflect credit on the entire Senate and offer the country a better example of political leadership, I concluded your professed concern for the institution and the public interest was genuine and admirable. Thank you for disabusing me of such notions with your letter to me dated February 2, 2006, which explained your decision to withdraw from our bipartisan discussions. I’m embarrassed to admit that after all these years in politics I failed to interpret your previous assurances as typical rhetorical gloss routinely used in politics to make self-interested partisan posturing appear more noble. Again, sorry for the confusion, but please be assured I won’t make the same mistake again.

 

As you know, the Majority Leader has asked Chairman Collins to hold hearings and mark up a bill for floor consideration in early March. I fully support such timely action and I am confident that, together with Senator Lieberman, the Committee on Governmental Affairs will report out a meaningful, bipartisan bill.

 

You commented in your letter about my “interest in creating a task force to further study” this issue, as if to suggest I support delaying the consideration of much-needed reforms rather than allowing the committees of jurisdiction to hold hearings on the matter. Nothing could be further from the truth. The timely findings of a bipartisan working group could be very helpful to the committee in formulating legislation that will be reported to the full Senate. Since you are new to the Senate, you may not be aware of the fact that I have always supported fully the regular committee and legislative process in the Senate, and routinely urge Committee Chairmen to hold hearings on important issues. In fact, I urged Senator Collins to schedule a hearing upon the Senate’s return in January.

 

Furthermore, I have consistently maintained that any lobbying reform proposal be bipartisan. The bill Senators Joe Lieberman and Bill Nelson and I have introduced is evidence of that commitment as is my insistence that members of both parties be included in meetings to develop the legislation that will ultimately be considered on the Senate floor. As I explained in a recent letter to Senator Reid, and have publicly said many times, the American people do not see this as just a Republican problem or just a Democratic problem. They see it as yet another run-of-the-mill Washington scandal, and they expect it will generate just another round of partisan gamesmanship and posturing. Senator Lieberman and I, and many other members of this body, hope to exceed the public’s low expectations. We view this as an opportunity to bring transparency and accountability to the Congress, and, most importantly, to show the public that both parties will work together to address our failings.

 

As I noted, I initially believed you shared that goal. But I understand how important the opportunity to lead your party’s effort to exploit this issue must seem to a freshman Senator, and I hold no hard feelings over your earlier disingenuousness. Again, I have been around long enough to appreciate that in politics the public interest isn’t always a priority for every one of us. Good luck to you, Senator.

 

Sincerely,

 

John McCain

United States Senate

[mobb_deep 920]

He also attached this picture.

 

http://imagebot.org/debate.jpg

 

[DanXIII 8]

Meanwhile Fannie and Freddie's chief lobbyist is running the McCampaign.

 

This guy is a joke.

[titans&bucs&bearsohmy! 2,745]

He also attached this picture.

 

http://imagebot.org/debate.jpg

 

 

That is focking hilarious!

[wiffleball 4,790]

He also attached this picture.

 

http://imagebot.org/debate.jpg

 

 

OH DAYUM!!!

[Snoopy 0]

Meanwhile Fannie and Freddie's chief lobbyist is running the McCampaign.

 

This guy is a joke.

 

Top Recipients of Fannie Mae and Freddie Mac Campaign Contributions, 1989-2008

Name Office Party/State Total

1. Dodd, Christopher J S D-CT $133,900

2. Kerry, John S D-MA $111,000

3. Obama, Barack S D-IL $105,849

4. Clinton, Hillary S D-NY $75,550

5. Kanjorski, Paul E H D-PA $65,500

 

 

 

...nuff said.

[Brad GLuckman 519]

Meanwhile Fannie and Freddie's chief lobbyist is running the McCampaign.

 

This guy is a joke.

 

WTF ?

[wiffleball 4,790]

Damn, what a passive-agressive little biitch. That sounds like some of the "letters" from an ex. Fock dude, thought you were a "maverick", not a biitch.

[mighty_thor 115]

If McCain was a real man, he would have confronted Obama face to face instead of writing a puzzy letter and then giving a copy to CBS. I'm glad this loser is not going to become President!

[DanXIII 8]

WTF ?

 

http://www.nytimes.com/2008/09/22/us/politics/22mccain.html

 

Loan Titans Paid McCain Adviser Nearly $2 Million

Senator John McCain’s campaign manager was paid more than $30,000 a month for five years as president of an advocacy group set up by the mortgage giants Fannie Mae and Freddie Mac to defend them against stricter regulations, current and former officials say.

 

Mr. McCain, the Republican candidate for president, has recently begun campaigning as a critic of the two companies and the lobbying army that helped them evade greater regulation as they began buying riskier mortgages with implicit federal backing. He and his Democratic rival, Senator Barack Obama, have donors and advisers who are tied to the companies.

 

But last week the McCain campaign stepped up a running battle of guilt by association when it began broadcasting commercials trying to link Mr. Obama directly to the government bailout of the mortgage giants this month by charging that he takes advice from Fannie Mae’s former chief executive, Franklin Raines, an assertion both Mr. Raines and the Obama campaign dispute.

 

Incensed by the advertisements, 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 their advocacy group, the Homeownership Alliance, formed in the summer of 2000. Some who came forward were Democrats, but Republicans, speaking on the condition of anonymity, confirmed their descriptions.

 

“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 while he worked there from 2000 to 2002, Fannie Mae and Freddie Mac together paid Mr. Davis’s firm $35,000 a month. Mr. Davis “didn’t really do anything,” Mr. McCarson, a Democrat, said.

 

Mr. Davis’s role with the group has bubbled up as an issue in the campaign, but the extent of his compensation and the details of his role have not been reported previously.

 

Mr. McCain was never a leading critic or defender of the mortgage giants, although several former executives of the companies said Mr. Davis did draw Mr. McCain to a 2004 awards banquet that the companies’ Homeownership Alliance held in a Senate office building. The organization printed a photograph of Mr. McCain at the event in its 2004 annual report, bolstering its clout and credibility. The event honored several other elected officials, including at least two Democrats, Gov. Edward G. Rendell of Pennsylvania and Representative Artur Davis of Alabama.

 

In an interview Sunday night with CNBC and The New York Times, Mr. McCain noted that Mr. Davis was no longer working on behalf of the mortgage giants. He said Mr. Davis “has had nothing to do with it since, and I’ll be glad to have his record examined by anybody who wants to look at it.”

 

Asked about the reports of Mr. Davis’s role, a spokesman for Mr. McCain said that during the time when Mr. Davis ran the Homeownership Alliance, the senator had backed legislation to increase oversight of the mortgage companies’ accounting and executive compensation. The legislation, however, did not seek to change their anomalous structure as private companies with federal support.

 

The spokesman, Tucker Bounds, also noted that the Homeownership Alliance included nonprofit organizations like Habitat for Humanity and the Urban League. “It’s not controversial to promote homeownership and minority homeownership,” Mr. Bounds said. More than a half-dozen current and former executives, however, said the Homeownership Alliance was set up mainly to defend Fannie Mae and Freddie Mac by promoting their role in the housing market, and the two companies paid almost the entire cost of the group’s operations.

 

“They were financed largely, possibly exclusively, by Fannie and Freddie,” said William R. Maloni, a Democrat who is a former head of industry relations for Fannie Mae. “We thought it would be helpful to have someone who was a broadly recognized Republican to be the face of the organization, and that person became Rick Davis.” Mr. Maloni added, “Rick, for that purpose, turned out to be quite good.” (Several executives said Mr. Davis’s compensation was not unusual for the companies’ well-connected consultants.)

 

The federal bailout of the two mortgage giants has become an emblem of what critics say is the outdated or inadequate regulatory system that allowed the financial system to slide into crisis this summer.

 

At the time that Fannie Mae and Freddie Mac recruited Mr. Davis to run the Homeownership Alliance in 2000, they were under new pressure from private industry rivals and deregulation-minded Republicans who argued that the two companies’ federal sponsorship gave them an unfair advantage and put taxpayers at risk. Critics of the companies had formed their own Washington-based advocacy group, FM Watch. They were pushing for regulations that would deter the companies from expanding into new areas, including riskier and more profitable mortgages.

 

Mr. Davis had recently returned to his lobbying firm from running Mr. McCain’s unexpectedly strong 2000 Republican primary campaign, which elevated Mr. McCain’s profile as a legislator and Mr. Davis’s as a lobbyist.

 

“You can say what you want about free-market distortions, but people like the system because it gets them into houses cheap,” Mr. Davis said to Institutional Investor magazine in 2000, adding that he would run the advocacy group out of his Alexandria, Va., lobbying firm.

 

The organization also hired Public Strategies, a communications firm that included former Bush adviser Mark McKinnon. Mr. Davis wrote letters and gave speeches for the group. In April 2001, he sent out a press release headlined, “It’s Tax Day — Do You Know Where Your Deductions Are? For Most Americans, They’re in Your Home.”

 

But by the end of 2005, Fannie Mae and Freddie Mac were recovering from accounting problems and re-examining costs, former executives said. The companies decided the Homeownership Alliance had outlived its usefulness, and it disappeared.

 

How mavericky of him!

 

HTH!