One of the giant mortgage companies at the heart of the credit crisis paid $15,000 a month to a firm owned by Senator John McCain’s campaign manager from the end of 2005 through last month, according to two people with direct knowledge of the arrangement. The disclosure contradicts a statement Sunday night by Mr. McCain that the campaign manager, Rick Davis, had no involvement with the company for the last several years. Mr. Davis’s firm received the payments from the company, Freddie Mac, until it was taken over by the government this month along with Fannie Mae, the other big mortgage lender whose deteriorating finances helped precipitate the cascading problems on Wall Street, the people said.But is it really news that McCain and his staff are a nest of liars? The picture is of McCain and Davis at the Republican convention — just in case McCain wants to claim that he doesn't remember knowing Davis.
Is it mitigating that it was also reported that Mr. Davis didn't do
much substantive work for the company in return for the money [and that Mr Davis's firm] was kept on the payroll because of Mr. Davis’s close ties to Mr. McCain.
Mr. Davis took a leave from Davis & Manafort for the duration of the campaign, but as a partner and equity-holder continues to share in its profits.