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Republicans bribed by Freddie Mac? What you think?

The Republicans are at it again throwing rocks from glass houses.
WASHINGTON – Freddie Mac secretly paid a Republican consulting firm $2 million to kill legislation that would have regulated and trimmed the mortgage finance giant and its sister company, Fannie Mae, three years before the government took control to prevent their collapse.

In the cross hairs of the campaign carried out by DCI of Washington were Republican senators and a regulatory overhaul bill sponsored by Sen. Chuck Hagel, R-Neb. DCI's chief executive is Doug Goodyear, whom John McCain's campaign later hired to manage the GOP convention in September.

Freddie Mac's payments to DCI began shortly after the Senate Banking, Housing and Urban Affairs Committee sent Hagel's bill to the then GOP-run Senate on July 28, 2005. All GOP members of the committee supported it; all Democrats opposed it.

 
Anonymous

Asked by Anonymous at 8:29 AM on Oct. 20, 2008 in Politics & Current Events

This question is closed.
Answers (10)
  • There are bad apples in every bushel. This is our Government, you should start trying to change it not just complain about it

    oh I get it.. the republicans can bitch complain lie and throw stones. but we can't mention any wrong doing by the republican party.. yeah..DON'T THINK SO
    Anonymous

    Answer by Anonymous at 4:19 PM on Oct. 20, 2008

  • In recent days, McCain has said Freddie Mac and Fannie Mae were "one of the real catalysts, really the match that lit this fire" of the global credit crisis. McCain has accused Democratic presidential candidate Barack Obama of taking advice from former executives of Fannie Mae and Freddie Mac, and failing to see that the companies were heading for a meltdown.

    McCain's campaign manager, Rick Davis, or his lobbying firm has taken more than $2 million from Fannie Mae and Freddie Mac dating to 2000. In December, Freddie Mac contributed $250,000 to last month's GOP convention.

    http://news.yahoo.com/s/ap/20081020/ap_on_bi_ge/the_influence_game_housing
    Anonymous

    Answer by Anonymous at 8:32 AM on Oct. 20, 2008

  • "A group called the Center for Responsive Politics keeps track of which politicians get Fannie and Freddie political contributions. The top three U.S. senators getting big Fannie and Freddie political bucks were Democrats and No. 2 is Sen. Barack Obama."


    Source - http://www.foxnews.com/story/0,2933,423701,00.html

    Anonymous

    Answer by Anonymous at 9:06 AM on Oct. 20, 2008

  • Freddie Mac secretly paid a Republican consulting firm $2 million to kill legislation that would have regulated and trimmed the mortgage finance giant and its sister company, Fannie Mae, three years before the government took control to prevent their collapse.

    Anonymous

    Answer by Anonymous at 9:20 AM on Oct. 20, 2008

  • (HERE IS THE WHOLE STORY) Unknown to the senators, DCI was undermining support for the bill in a campaign targeting 17 Republican senators in 13 states, according to documents obtained by The Associated Press.In the end, there was not enough Republican support for Hagel's bill to warrant bringing it up for a vote because Democrats also opposed it and the votes of some would be needed for passage. McCain, R-Ariz., was not a target of the DCI campaign. He signed Hagel's letter and three weeks later signed on as a co-sponsor of the bill. By the time McCain did so, however, DCI's effort had gone on for nine months and was on its way to killing the bill.

    grlygrlz2

    Answer by grlygrlz2 at 9:22 AM on Oct. 20, 2008

  • If this shows to be true, I would have to ask if the Democrats who also opposed were involved and note that McCain, showed his Maverick status by trying to reform, going against his own party and standing up with Hagel to make changes and reform Fannie and Freddie.
    grlygrlz2

    Answer by grlygrlz2 at 9:25 AM on Oct. 20, 2008

  • how does that change the fact that "Freddie Mac secretly paid a Republican consulting firm $2 million to kill legislation that would have regulated and trimmed the mortgage finance giant and its sister company, Fannie Mae, three years before the government took control to prevent their collapse."  he didn't go against his party. he co-sponsored the bill.


    some of the republicans wanted to pass this bill created by Hagel. the bill was to kill the legislation that would have regulated  teh mortgage financial giant.


    Freddie Mac's payments to DCI began shortly after the Senate Banking, Housing and Urban Affairs Committee sent Hagel's bill to the then GOP-run Senate on July 28, 2005. All GOP members of the committee supported it; all Democrats opposed it.

    Anonymous

    Answer by Anonymous at 9:32 AM on Oct. 20, 2008

  • Anon 932 Please explain your question? I beleive you need to read the full article.  and check your facts


    Your words:"some of the republicans wanted to pass this bill created by Hagel. the bill was to kill the legislation that would have regulated teh mortgage financial giant."


    No, that was not the bill. The Bill that Hagel(R) co sponsred with McCain(R) was TO REGULATE Fannie and Freddie.


    http://www.govtrack.us/congress/bill.xpd?bill=s109-190&tab=summary


     


     

    grlygrlz2

    Answer by grlygrlz2 at 10:14 AM on Oct. 20, 2008

  • There are bad apples in every bushel. This is our Government, you should start trying to change it not just complain about it
    itsmesteph11

    Answer by itsmesteph11 at 10:30 AM on Oct. 20, 2008

  • There are bad apples in every bushel. This is our Government, you should start trying to change it not just complain about it
    Couldn't agree MORE!!! Maybe someday when I have paid my dues and run for Mayor, Congress, I can work my way up!! lol... It's a dream... ::wink::
    grlygrlz2

    Answer by grlygrlz2 at 10:34 AM on Oct. 20, 2008

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