Report: Freddie Mac Lobbyist To Be Tapped To Lead McCain Transition

By Big Tent Democrat, Section Elections 2008
Posted on Tue Sep 23, 2008 at 09:40:49 AM EST
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Since John McCain and Republicans like Elizabeth Dole and Mel Martinez now claim to have great concerns about lobbyists for Fannie Mac and Freddie Mae, perhaps they can explain why John McCain is expected to choose a Freddie Mac lobbyist to head his transition team:

The lobbying firm of the man Republicans say John McCain has chosen to begin planning a presidential transition earned more than a quarter of a million dollars this year representing Freddie Mac, one of the companies McCain blames for the nation's financial crisis. Timmons & Co., whose founder and chairman emeritus is William Timmons Sr., was registered to lobby for Freddie Mac from 2000 through this month, when the federal government took over both Freddie Mac and Fannie Mae.

[More...]

While Republicans say Timmons is making plans for the transition if McCain wins in November, the campaign wouldn't confirm his role. Timmons didn't return a phone call seeking comment.

The new Republican strategy of deciding Fannie and Freddie are to blame for everything (as if the Bush Administration was not in charge of oversight for Fannie and Freddie) seems odd considering John McCain's strong ties to Fannie and Freddie lobbyists.

By Big Tent Democrat, speaking for me only

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Report: Freddie Mac Lobbyist To Be Tapped To Lead McCain Transition | 12 comments (12 topical)

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Do we know this is a done deal, or is it still (5.00 / 0) (#4)
by PssttCmere08 on Tue Sep 23, 2008 at 10:29:22 AM EST

speculation?

urgent plea for funds (5.00 / 3) (#5)
by domerdem on Tue Sep 23, 2008 at 10:29:46 AM EST

Dear American:

I need to ask you to support an urgent secret business relationship with a transfer of funds of great magnitude.

I am Ministry of the Treasury of the Republic of America. My country has had crisis that has caused the need for large transfer of funds of 800 billion USD. If you would assist me in this transfer, it would be most profitable to you.

I am working with Mr. Phil Gramm, lobbyist for UBS, who (God willing) will be my replacement as Ministry of the Treasury in January. As a former U.S. congressional leader and the architect of the PALIN / McCain Financial Doctrine, you may know him as the leader of the American banking deregulation movement in the 1990s. As such, you can be assured that this transaction is 100% safe.

This is a matter of great urgency. We need a blank check. We need the funds as quickly as possible. We cannot directly transfer these funds in the names of our close friends because we are constantly under surveillance. My family lawyer advised me that I should look for a reliable and trustworthy person who will act as a next of kin so the funds can be transferred.

Please reply with all of your bank account, IRA and college fund account numbers and those of your children and grandchildren to wallstreetbailout@treasury.gov so that we may transfer your commission for this transaction. After I receive that information, I will respond with detailed information about safeguards that will be used to protect the funds.

Yours Faithfully Minister of Treasury Paulson

: Heh, the emails like this that I get (none / 0) (#12)
by Cream City on Tue Sep 23, 2008 at 05:12:50 PM EST

are from the wives, because the husbands are so busy with the banks. So this isn't believable unless it's signed:

Yours So Faithfully, Kind Sir or Madam --
Mrs. Mugambe Paulson

Jobs (5.00 / 0) (#7)
by Jlvngstn on Tue Sep 23, 2008 at 10:49:20 AM EST

execs don't seem to be having any trouble finding work. So what else is new?

Wow (1.50 / 2) (#9)
by patriotgames on Tue Sep 23, 2008 at 01:30:16 PM EST

and the Speculation that Timmons might sorta kinda be in charge of the transition team of McCain so trumps the FACT that Raines, Johnson and Gorelick are OBAMA'S ECONOMIC ADVISORS.

I guess it even trumps the fact that Obam has been gifted with the second most 'donations' from Freddie and Fannie.

Snark? You decide.

Liddy and Mel (none / 0) (#1)
by andgarden on Tue Sep 23, 2008 at 10:07:08 AM EST

have to be some of the most incompetent Republicans in the Senate. I predict that both will be one term wonders.

: Funny (none / 0) (#8)
by lilburro on Tue Sep 23, 2008 at 12:30:57 PM EST

I didn't realize Elizabeth Dole had only been a Senator since 2003. She is technically NC's Senior Senator.
Good job on the part of the DSCC in their ad efforts. They make her seem like she has been a useless Senator forever, instead of just for the past few years.

McCain's strategy seems to be (none / 0) (#2)
by barryluda on Tue Sep 23, 2008 at 10:16:39 AM EST

accuse Obama of doing whatever McCain's been caught doing, and hope that the issue is seen by voters as a draw.

ya (none / 0) (#3)
by connecticut yankee on Tue Sep 23, 2008 at 10:25:56 AM EST

Yeah, its a muddy the issue strategy. McCain and the GOP know they look bad and just hope to kick up some sand and swim away.

Hopefully the american people see right through it. McCain's ties to this whole thing are really incredible.

Wow (none / 0) (#6)
by CST on Tue Sep 23, 2008 at 10:32:08 AM EST

I thought McCain was a better politician than that.

I know he's not great, but the blindness of this move astounds me. Although they won't confirm the report, so I think they know this is a very un-p.c. move. I wonder if they will now accuse Bloomberg of being "a pro-Obama advocacy organization" like the times...

Very Hypocritical, to say the least. (none / 0) (#10)
by chopper on Tue Sep 23, 2008 at 02:01:46 PM EST

McCain is not putting his country at risk by hiring a lobbyist.

Obama, obviously, did put this country at risk by taking in much more lobbyist money than all the other senators.

OBAMA'S GREED AND CORRUPTION HELPED CREATE THIS CRISIS

Obama is trying to blame McCain and the Republicans for the current problems in the economy and the failings of Fannie Mae and Freddie Mac.

He is also saying that John McCain is too close with lobbyists. With more facts about Obama's acceptance of lobbyist money coming out each day, this line of attack seems more and more ridiculous.

Franklin Raines (ousted due to 6.3 billion dollar accounting scandal in 2004) is a former CEO of Fannie Mae and economic advisor for Senator Obama. He made $90 Million with Obama's help.

Fannie Mae lobbyists have given Barack Obama $123,000 since 2004 -only 4 years. In Contrast John McCain has received only $19,000 in the past 20 years.

If Obama and McCain started in the senate at the same time this would equate to Barack Obama taking 32 times more lobbyist money than McCain. If anyone should be criticized on lobbyist ties, it is Obama himself.

Not only did McCain recognize a problem with Freddie and Fannie 3 years ago and predict this would happen, he put his name on the line and Co-Sponsored a bill attempting to reform regulation of these two companies.

Obama received so much more lobbyist money because Obama did what he was asked. Obama was told to block McCain's reform bills, and he did.

You can thank Obama for your losses.

: Does Obama drive a Delorean? (5.00 / 1) (#11)
by Socraticsilence on Tue Sep 23, 2008 at 02:08:24 PM EST

Because he'd need a time Machine to help Raines, who as you pointed out resigned in 2004, I mean what with Obama taking office in January of 2005 and all.