AP REPORTS $2 MIL DEAL TO STIFLE REGULATION OF FREDDIE MAC

(10/21/2008)

The Associated Press reported yesterday that 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. The deal happened three years before the government took control to prevent their collapse with the $700 billion bail-out. "In the cross hairs of the campaign carried out by DCI of Washington were Republican senators and a regulatory overhaul bill sponsored by Sen. Chuck Hagel, R-Neb. DCI's chief executive is Doug Goodyear, whom John McCain's campaign later hired to manage the GOP convention in September," says the AP. See AP Story   Mortgage firm arranged stealth campaign

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