McCain Money News Roundup for Oct. 20, 2008
Monday, October 20th, 2008Even with two weeks to go until the election, yet another connection between John McCain and troubled mortgage giant Freddie Mac has come to light.
Word came out this weekend that Freddie Mac secretly paid Republican firm DCI Group to lobby GOP senators to oppose legislation that would have increased regulations on its lending.
Does DCI Group sound familiar? It might – it turns out that DCI Group’s CEO is Doug Goodyear, who was John McCain’s choice to organize this year’s Republican National Convention. And, as Newsweek reported in May, Goodyear’s firm also made money representing Burma’s brutal military junta.
As for McCain’s VP pick, Alaska Gov. Sarah Palin, The New Yorker has a lengthy article on the governor’s rise to prominence among the GOP elite – the very “Good Ol’ Boys Network” she so often decries. Part of that, the story mentions, was her quick desire to cozy up to powerful Washington lobbyists after she became mayor of Wasilla.
Of course, McCain spent Sunday questioning the legitimacy of Barack Obama’s staggering $150 million in September fundraising, saying on Fox News Sunday, “What’s going to happen, particularly if you’ve got an incumbent president, and we no longer stick to the … public financing, which was a result of the Watergate scandal?”
Sen. McCain might want to ask this question of himself, as “sticking to public financing” proved to be, well, a sticky point during the Republican primaries. You may remember that McCain opted into the public financing system for the primaries and then decided to change his mind once his campaign took off. Despite the questionable legality of this move, the FEC eventually let him off the hook.
Finally, The Dallas Morning News explores why an Obama administration, combined with a Democratic Congress, would likely result in new regulations on AT&T. As for a McCain administration, the story notes that “AT&T’s executives and lobbyists have longstanding ties to Mr. McCain,” including the company’s top lobbyist, Tim McKone, who has raised $500,000 for the GOP nominee. The article also points out that some of McCain’s “top campaign aides are former AT&T lobbyists, including Charlie Black and Rick Davis, Mr. McCain’s campaign manager. Some of Mr. McCain’s Senate aides later worked as lobbyists for AT&T.”