Friday, September 19, 2008

McCain Not Windless on Fannie Connections

John McCain's latest ads highlight his opponents connections to failed mortgage issuer Fannie Mae. They include past CEO's Jim Johnson and Franklin Raines. It turns out Mr. McCain has a log in his eye with his relationship with Kenneth Duberstein, a long running Fannie Mae Board member and Chair of the Assets & Liabilities Committee. Ken's consulting firm pocketed over $1.8 million over a five year period, helping to keep the regulatory wolves at bay during an accounting crisis.

Duberstein helped McCain with his Presidential run in 2000, before heading up George W.'s White House transition team that same year. While John McCain runs from his close association with President Bush, he also avoids airing his ties with Fannie's Duberstein. Something stinks, and I think you know what it is.

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