The feigned outrage of McCain and Palin at the inaction of Congress and the influence of Fannie Mae and Freddie Mac lobbyists is ironic considering the fact that “at least 20 McCain fundraisers have lobbied on behalf of Fannie Mae and Freddie Mac” in recent years.
More troubling is the fact that McCain’s campaign manager, Rick Davis, “served as president of an advocacy group led by Fannie Mae and Freddie Mac” that worked to cripple regulatory initiatives in Congress because the two institutions feared that “Congressional meddling would lower their healthy profits.” As the Politico reported in July:
Davis headed the Homeownership Alliance, a lobbying association that included Fannie, Freddie, nonprofit groups, real estate agents, homebuilders and consumer advocates. …
worked to oppose congressional efforts to tighten controls on Fannie and Freddie.
In July 2003 for example, Davis “wrote to the American Banker, taking issue with an opinion piece…arguing that Fannie and Freddie should operate with greater transparency.” Such transparency and greater regulatory controls might have averted the current crisis.
http://thinkprogress.org/2008/09/09/mccain-lobby-fannie-freddie/