AP IMPACT: How Freddie Mac halted regulatory drive

[Trajan]

Source: Yahoo/AP

WASHINGTON – When the Washington Nationals played their first-ever baseball game in the nation's capital in April 2005, two congressmen who oversaw mortgage giant Freddie Mac had choice seats — courtesy of the very company they were supposed to be keeping an eye on.

Efforts to tighten government regulation were gaining support on Capitol Hill, and Freddie Mac was fighting back. The baseball tickets for home opener were means of influence.

According to confidential company documents obtained by The Associated Press, Reps. Bob Ney, R-Ohio, and Paul Kanjorski, D-Pa., spent the evening in hard-to-obtain seats near the Nationals dugout with Freddie Mac executive Hollis McLoughlin and four of Freddie Mac's in-house lobbyists.

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Internal Freddie Mac budget records show $11.7 million was paid to 52 outside lobbyists and consultants in 2006. Power brokers such as former House Speaker Newt Gingrich were recruited with six-figure contracts. Freddie Mac paid the following amounts to the firms of former Republican lawmakers or ex-GOP staffers in 2006:

_Sen. Alfonse D'Amato of New York, at Park Strategies, $240,000.

_Rep. Vin Weber of Minnesota, at Clark & Weinstock, $360,297.

_Rep. Susan Molinari of New York, at Washington Group, $300,062.

_Susan Hirschmann at Williams & Jensen, former chief of staff to House Majority Leader Tom DeLay, R-Texas, $240,790.

Read more: http://news.yahoo.com/s/ap/20081207/ap_on_go_co/the_influence_game_freddie_mac

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Yowsa ..... Who'd have thought that the hypocritical Republicans were behind the big push to resist regulatory control of Freddie Mac ? ....

Frank Luntz too ? .... Ettu Frankie ?

Pitiful ....

[alfredo]

1. Remember, K Street was ordered not to hire Dems, and if they had Dems

they'd be barred from lobbying.

[Trajan]

2. Very true ....

What is of great import here : The GOP is currently trying to lay blame on everybody BUT themselves ... no surprise there .... Yet it is clear that the GOP with thick within the attempt to stave off reasonable regulation when they had a chance to make a difference ...

[alfredo]

3. The GOP has soiled their own nest and everyone knows where the

stink is from.