Two McCain aides lobbied for ’shady’ mortgage lender.
Two McCain aides lobbied for ’shady’ mortgage lender.
On Friday, the Politico reported that the past anti-regulatory and lobbying efforts of one of Sen. John McCain’s top economic advisers, former Texas Sen. Phil Gramm, “contributed significantly to today’s economic turmoil.” Today, the New York Daily News reports “that two of his top advisers were recently lobbyists for a notorious lender in the mortgage meltdown“:
John Green, the senator’s chief liaison to Congress, and Wayne Berman, his national finance co-chairman, billed more than $720,000 in lobbying fees from 2005 through last year to Ameriquest Mortgage through their lobbying firm, disclosure forms reviewed by the Daily News show.
Ameriquest, which since has been bought out, was forced to settle suits with 49 states for $325 million. More than 13,680 New York homeowners got taken for a ride by the company, records show.
“They would be defined as the most blatant and aggressive predatory lenders out of everybody,” said Bruce Marks, head of the nonprofit Neighborhood Assistance Corporation of America.
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Of course McStain is tied to this; he’s always had his hand out and his morals erased. The GOP is running another cheap crook, what a surprise.
March 31st, 2008 at 10:12 amFormer Ameriquest CEO Roland Arnall was (surprise!) appointed by the Bush Administration to the plum position of Ambassador to the Netherlands.
This is just before things began to get really bad in the mortgage markets - and Arnall cashed out substantially and sold most of the company to CitiGroup.
Arnall died about a week and a half ago of very recently discovered cancer.
March 31st, 2008 at 10:23 amOf course he supports bailing out industry, while doing nothing for taxpayers who will be paying for this nightmare (not to mention homeowners): It’s socialized capitalism.
Socialism for those at the top, capitalism for everyone else.
March 31st, 2008 at 10:30 amMcCain is shameful. Not wanting to help homeowners that were targeted by these lending giants. They preyed on so many minorities that couldn’t get loans. These people had no idea that there mortgage payments would double if not triple in some cases.
I don’t understand why Hillary hired Maggie Williams. She earned about $200,000 on the board of a Long Island SubPrime Lender that charged prepayment penalties. Did she not look at her resume.
March 31st, 2008 at 11:03 amI guess McCian picked up some pointers from the Clintons!! HAHAHA
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he was a crook long before the Clintons showed up. All his life, in fact. Not to mention how quickly he folded in Nam. His fellow POWs call him “Songbird”.
republicans are remarkably weak on national security.
March 31st, 2008 at 11:03 am“I guess McCian picked up some pointers from the Clintons!! HAHAHA
poopinmypants”
Yup, you can have both of those republicans. GOBAMA!!!!!
March 31st, 2008 at 11:07 amNewsday reported yesterday that Sen. Hillary Clinton’s campaign manager, Maggie Williams, “earned about $200,000 on the board” of a “subprime lender that charged prepayment penalties.”
Well, the above update shows that one cherished chestnut is no longer available to wingnuts and Hillary-haters (not that I’m a great fan, at this point), and that is, TP is so loaded with Clintonistas that they duck reporting anything unfavorable to the Clintons.
March 31st, 2008 at 11:41 am#7 barfly. You bet!
This site, re: Clinton foibles reminds me of the line in Chicken Little, where he says to his dad.
What were we talkin about?
March 31st, 2008 at 11:59 amWhoa whoa whoa - John McCain is somehow connected with shady banking practices?
SAY IT AIN’T SO!
March 31st, 2008 at 12:06 pmAnd he is leading in the polls. GO F*&^ figure. Please tell me the MSM is reporting propaganda to put in McCain into the White house. The American people can’t be this stupid? Can they?
March 31st, 2008 at 1:29 pmSad, but kinda funny - At the behest of sub prime lenders,the Bush adminstration overruled stringent STATE LAWS regulating how much lenders (and brokers) were allowed to make from borrowers, and loosened the rules significantly (de-regulation in the name of an “ownership society” or some such BS).
Now, part of the Federal government’s “remedy” for the mess
they allowed to be made is MORE Federal control over mortgage BROKERS; and bail-out of the real perpetrators of the mess, their cronies, the predatory lenders.
Shouldn’t all those people be resigning to spend more time with families?
March 31st, 2008 at 4:02 pm