Fannie Mae Hired GOP Firm To Kill Recent Regulatory Attempt

So the “McCain Bill” (which he only signed on to 10 months after it was introduced, after it was nearly dead) to put some token regulation on Fannie Mae/Freddie Mac in 2005 was killed by a GOP lobbying firm after a secret $2 million payment. Who else did they secretly pay? Rick Davis, McCain’s campaign manager, among others. So much for the racist conspiracy theory still being touted that “the Democrats” were behind the failure of this too little, too late bill, which was related to an account scandal, not to the $62 trillion in speculation on mortgages which actually caused the financial collapse.