The fingerprints on Freddie Mac

Discussion in 'Wall St. News' started by WaveStrider, Oct 19, 2008.


    "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."

    "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."

    "Freddie Mac executive Hollis McLoughlin oversaw DCI's drive, according to the three people.

    "Hollis's goal was not to have any Freddie Mac fingerprints on this project and DCI became the hidden hand behind the effort," one of the three people told the AP."

    So the Dems stopped the regulation and the Repubs took money to stop the regulation.

    That makes DC only 1 party - $$$.