Bush Administration Chooses McCain National Finance Chairman To Take Over Fannie Mae
Bush Administration Chooses McCain National Finance Chairman To Take Over Fannie Mae
The federal government has announced that it will be bailing out Fannie Mae and Freddie Mac, two government-sponsored enterprises that “own or guarantee almost half of the country’s $12 trillion in outstanding home mortgage debt,” making it potentially the “largest financial bailout” in U.S. history. As part of the deal, both the CEOs of Fannie and Freddie were fired.
The Bush administration has named a close ally of Sen. John McCain (R-AZ) to take over Fannie Mae. Herbert Allison has worked at Merrill Lynch and TIAA-CREF. However, he also served as McCain’s 2000 national finance chairman.
On Feb. 27, 2000, the Austin-American Statesman noted the close relationship between McCain and Allison, saying that they “regularly” talked:
McCain is a one-man polling operation, each day soliciting the opinions of dozens of people who don’t even know they’re advising him. … McCain soaks up anecdotal advice and ideas from all walks of life. He talks regularly with publisher and analyst William Kristol; journalists Charles Krauthammer and R.W. Apple; high-tech executive Andy Grove; money man Herbert Allison; telecom executive Sol Trujillo; foreign policy luminaries such as Henry Kissinger, Jeane Kirkpatrick and Brent Scowcroft; and even people such as actor Warren Beatty (who suggested that McCain’s campaign accept no money at all).
On Jan. 24, 2000, Fortune reported that if McCain won the election, the “best bet” to become his Treasury Secretary was Allison. In 1999, Allison told Crain’s New York Business [12/20/99] that he had been “tremendously impressed by McCain,” who “has courage and high integrity, and he believes in campaign finance reform.”
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At Freddie Mac, David M. Moffett, currently a senior adviser at the Carlyle Group private equity firm, succeeds Richard F. Syron.
http://www.nytimes.com/2008/09/08/business/08fannie.html?_r=1&hp&oref=slogin
A McCain finance chair and a PEU boy? The times they are a strangin’…
September 8th, 2008 at 7:25 pmWhatever happened to the republican meme: “Why should I have to pay for….”
I guess it becomes inoperative when it comes to corporate welfare…
September 8th, 2008 at 7:27 pmDo yourself and your family a favor: If you own a house, pay it off as quickly as possible. If you have savings, make sure you are diversified. If you can get out of some debt, do it now. Pay off your cars and other capital items. Get liquid NOW!
The last 8 years has created a basketcase of nonsense in the financial markets, and now bush is making it worse by this pick. He truly does want to rid the US of the middle class.
McSame = Bush. They are rich, they don’t care what happens to you. They will never care what happens to you.
September 8th, 2008 at 7:28 pmOn Jan. 24, 2000, Fortune reported that if McCain won the election, the “best bet” to become his Treasury Secretary was Allison.
– - Things change over 8 years. Today, Phil Gramm is mentioned as McCain’s Treasury Secy. And McCain is very far removed from who the man he was 8 years ago.
September 8th, 2008 at 7:31 pmMeet the new boss, same as the old boss.
Shame, shame. Won’t get fooled again?
Sht, they’re trying as hard as they can to get rid of the middle class. 5% of the population is going to end up with 99% of the wealth in America real soon.
September 8th, 2008 at 7:32 pmhttp://www.counterpunch.org/whitney09082008.html
Mike Whitney interviews Michael Hudson on Fannie and Freddie.
September 8th, 2008 at 7:34 pmThey’re an incestuous bunch of critters aren’t they? They all seem to enjoy f**king each other and everyone else too!
September 8th, 2008 at 7:36 pmIs this another one of those positions that Congress, in its infinite stupidity, allowed the president to fill completely on his own? Or does this guy have to face some kind of Senate confirmation (which, to me, is the only sensible thing to do when you’re talking about citizen’s money under government control)?
September 8th, 2008 at 7:40 pmWhy do I have an image of a fox and a chickenhouse?
Or better yet, an image of a Cheney and a Halliburton?
September 8th, 2008 at 7:41 pmAn image of Lay and Enron?
September 8th, 2008 at 7:43 pmAnother Bush preemptive strike.
September 8th, 2008 at 7:45 pmThat’s the note that caught my eye this morning.
September 8th, 2008 at 7:50 pm“McCain…talks regularly with…”
It is something he learned as a POW…talk, talk, talk long after Name, Rank, Serial Number, and Date of Birth, just keep on talking, talking, talking.
September 8th, 2008 at 7:53 pmAllison told Crain’s New York Business [12/20/99] that he had been “tremendously impressed by McCain,” who “has courage and high integrity, and he believes in campaign finance reform.”
That was then this is now…
September 8th, 2008 at 8:03 pmAnd they just continue to advance people based on affiliations rather than ability. They have long since abandoned any pretense of anything else.
September 8th, 2008 at 9:04 pmI guess it’s fine to bail out corporations, invade a sovereign nation and make your citizens foot the bill. BUT, it’s okay to watch your own citizens struggle as unemployment skyrockets to 6.1 % and the claims for unemployment hit 444,000 in one week.
September 8th, 2008 at 9:14 pmThe Republican Way.
On a similar note, Andrew McCain, son of none other than John McCain, was a director of the newly failed Silver State Bank. This is expected to cost the FDIC about $500,000,000.00.
Your tax dollars at work again. Seems the old man was heavily involved with the Keating Five group of several years ago in the Savings and Loan scandal.
September 8th, 2008 at 9:21 pmNo doubt this will turn into another looting and pillaging by Bush and his cronies.
September 8th, 2008 at 9:32 pmMore neocons/neoliberals running our banks means only one thing……fuzzy math and more free trade.
September 8th, 2008 at 9:39 pmUnit one – Unit one to unit two.
September 8th, 2008 at 9:58 pmUnit one – Unit one to unit two, come in please.
Unit two – Unit two, come back.
Unit one – Are the foxes guarding the hen houses?
Unit two – Ten four.
THAT SHOULD BE THE SHORTEST APPOINTMENT IN HISTORY
September 8th, 2008 at 9:58 pmIBTunion4obama Says:
I guess it’s fine to bail out corporations, invade a sovereign nation and make your citizens foot the bill. BUT, it’s okay to watch your own citizens struggle as unemployment skyrockets to 6.1 % and the claims for unemployment hit 444,000 in one week.
The Republican Way.
and give Iraqi government a surplus off our blood.
September 8th, 2008 at 10:12 pmceltic cynic
Your links please.
September 8th, 2008 at 10:13 pmGee, McCain accepts advice and ideas from guys like William Kristol and Charles Krauthammer in addition to Traitor Joe. That should make everybody feel better.
September 9th, 2008 at 2:03 amAnother Carlyle exec took the CFO job at Wachovia. The Carlyle Group is lobbying to buy larger chunks of banks and expressed interest in government backed mortgage underwriters. They now have people on the inside to help make those deals happen.
September 9th, 2008 at 12:24 pmWell, now – isn’t that cozy?
It’s a damned good thing these people are *breeding*. The genetic fallout would be unimaginable!
September 9th, 2008 at 12:34 pmOoops. That would be AREN’T breeding.
Damn typos. >:o(
September 9th, 2008 at 12:35 pmMcCain seeks advice from Henry Kissinger. The Austin American Statesman refers to Kissinger as a ” Foreign Policy Luminary.” It would be more accurate and truthful to refer to him as a Serial War Criminal who should be in a small prison cell awaiting execution. He is one of the most dangerous and destructive persons on the planet. he should never be referred to in a positive manner.
Challenge me, Mr. Kissinger. I dare you.
September 9th, 2008 at 3:07 pmThis is another example that the “old world jounalism of Murrow, Cronkite and Rather is dead and buried. In the case of the Time Magazine reporter Ms Tumulty, she seems to think the finding out the who, what, where, when and how have been replaced with a steno pad, which she records what ABC said in rebuttle to the complaint of Congressman Kucinich. There is a great disconnect with what happened and the points made by ABC. She asks little of no questions to ABC. She takes what is handed to her and repeats it vebatim and then calls that reporting. I call is stenography. Lida Sohbet sohbet sesli chat Gelinlik Modelleri
January 11th, 2009 at 11:27 amIf you’re referring to Karl Schwarz’ articles, if they are true, how will we ever know unless the news media gets involved without bias? The military under orders not to speak out may never convey Karl Scharz’ expose’. Sesli Sohbet If Cheney was truly involved in 9/11 and protected in some way, then he’s being protected by what may be going on in the Caspian Sea area as well. That pre-9/11 August 10, 2000 article drives the point home to me that Cheney had a vested interest in the oil at the Caspian Sea area (before 9/11). Fx15 From all I’ve read in Schwarz’ articles, he claims the Taliban was working on a deal with Argentina with that pipeline in the Caspian Sea area and UNOCOL wanted the deal instead. Orjinal Lida It’s too much to get into here and I’m not able to convey in here what Schwarz has presented in his articles. Sikis Dig into Schwarz’ articles to learn more about the unnamed soldier’s experiences related to so-called Black Ops missions in the Caspian Sea area in Schwarz’ article. What Schwarz had to present in this article is an eye opener: kurtlar vadisi pusu izle
January 30th, 2009 at 2:44 pmthanks Lida Dai Dai Hua Jiao Nang Seo Yar??mas?
February 2nd, 2009 at 4:22 amI want suits in Colorado, New Jersey, and any other state where illegal suppression campaigns are being conducted. And some real looks at the polling methodology would also be eye opening.
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who “has courage and high integrity, and he believes in campaign finance reform
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April 30th, 2009 at 9:38 am