Head of McCain’s transition team lobbied for Freddie Mac
Newly released Congressional documents show that the lobbying firm of William Timmons Sr., who Republicans say has been tapped to lead Sen. John McCain’s transition committee, receive $260,000 this year from Feddie Mac prior to the government’s takeover of the mortgage company, report Jonathan D. Salant and Timothy J. Burger of Bloomberg. The midyear financial-disclosure form of Timmons & Co. lists Timmons Sr. as a lobbyist for Freddie Mac. Speaking about the current financial crisis in Green Bay, Wis. last week, McCain stated, “At the center of the problem were the lobbyists, politicians, and bureaucrats who succeeded in persuading Congress and the administration to ignore the festering problems at Fannie Mae and Freddie Mac.”
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