The Hill reports that Fannie Mae and Freddie Mac are dissolving their formidable lobbying operations (when the Office of Federal Housing Enterprise Oversight was investigating their shady accounting practices, Fannie Mae was spending $8 million a year on lobbyists, some of whom were working with Congress to derail the investigation).
The Hill reports,
When the two companies were taken over by the government, they said they would end lobbying practices that had made them a powerful force in Washington.Still, the lost contracts could hit K Street hard.
Overall, 37 outside firms filed second-quarter reports for Fannie and Freddie, according ...
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TCS, Post examine Palin’s pursuit of earmarks
The most interesting story on Alaska Gov. and Republican nominee for Vice President Sarah Palin is the Washington Post's report that, as mayor of Wasilla, Alaska, Palin "employed a lobbying firm to secure almost $27 million in federal earmarks for a town of 6,700 residents." Our friends at Taxpayers for Common Sense provided the earmark analysis. Note who Palin hired:
As mayor of Wasilla, however, Palin oversaw the hiring of Robertson, Monagle & Eastaugh, an Anchorage-based law firm with close ties to Alaska's most senior Republicans: Rep. Don Young and Sen. Ted Stevens, who was indicted in July ...Continue reading
Are the parties over?
Republican presidential nominee John McCain has apparently cancelled all but the most essential official convention activities due Hurricane Gustav's menacing approach toward the Gulf Coast. That means Monday will have none of the normal convention hullabaloo -- the customary succession of speeches (President George W. Bush and Vice President Dick Cheney had already cancelled their appearances) will be foregone.
That leaves me with two questions: 1) Will the unofficial parties -- those events sponsored by private interests that occur outside the arena -- still go on as planned? And 2) will curtailing a lot of the rhetoric, including the endless parade of ...
Continue readingWashington Post: Biden’s Son Lobbied Obama’s Staff for Earmarks
The Washington Post reports that Barack Obama, the Democratic nominee for President, requested $3.4 million in congressional earmarks for clients of the lobbying firm that employs the son of running mate Joe Biden. Hunter Biden, who's a registered lobbyist (see here and here for his clients), apparently lobbied Obama's Senate office directly:
Campaign spokesman David Wade also said Hunter Biden never appealed directly to Obama."Hunter Biden met with the Obama Senate office, not with Senator Obama," Wade said.
Read the whole thing. An aside: Nice to see the Washington Post use information from both Taxpayers for ...
Continue readingMore on Stevens’ earmarks
The Washington Post notes that Alaskans are fretting the potential fallout of the indictment of Sen. Ted Stevens, R-Alaska, for not disclosing more than $250,000 in gifts from VECO Corp. Taxpayers for Common Sense sums it up more succinctly:
Taxpayers for Common Sense has released the last four years of earmark data for Alaska to help create an understanding of how powerful Senator Ted Stevens (R-AK) has remained as an appropriator. The new research has found that Senator Stevens has secured or played a significant role in securing more than 891 earmarks worth $3.2 billion, which comes to ...Continue reading
Birnbaum: Bank of America lobbyists wrote parts of bank bail out bill
Jeffrey Birnbaum, writing in the Washington Post, reports lobbyists wrote key portions of the mortgage bailout bill:
Credit Suisse, a large investment bank heavily invested in mortgage-backed securities, proposed allowing hundreds of thousands of homeowners to refinance their mortgages with lower-cost government-insured loans, relieving financial institutions of the troubled debt.After the bank proposed this to Congress in January, it became known as the "Credit Suisse plan" among congressional staffers and lobbyists. It later formed the basis of housing provisions in both the House and Senate.
Bank of America, which is acquiring Countrywide Financial, the country's largest mortgage lender ...
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New York Times Opens Archives Online
Update: For some reason it appears the Times has pulled this awesome research tool. I'll try to find out why.
The New York Times launched an amazing research tool, creating a great online browser for all their content from 1851-1922. The Times is also offering the data in API so that, if you can, you can create your own browser. The Times blog says:
"As part of eliminating TimeSelect, The New York Times has decided to make all the public domain articles from 1851-1922 available free of charge. These articles are all in the form of images scanned from the original paper. In fact from 1851-1980, all 11 million articles are available as images in PDF format. To generate a PDF version of the article takes quite a bit of work — each article is actually composed of numerous smaller TIFF images that need to be scaled and glued together in a coherent fashion."
If you do research - or are in any way in need of scanning the 1855 adverts for local New York haberdashers - this is not to be missed. Check out the TimesMachine. (There might be some kind of server problems right now.)
The article to the left references a large scale congressional investigation into lobbyist actions in an attempt to block President Woodrow Wilson's tariff bill, a key element of his New Freedom agenda. The investigation sought to discover if Senators had been bribed or received undue influence from these lobbyists and ultimately required every sitting Senator to testify to their personal finances, campaign contritbutions, and relationships with lobbyists and other company agents. This amounted to the first full disclosure by members of Congress in regards to the personal finances, their campaign contributors, and the nature of the lobby. A first for transparency in Congress.
McCain & Lobbyists
The Washington Post's Jeffrey H. Birnbaum and John Solomon report on Sen. John McCain's ties to lobbyists--especially the 32 lobbyists who are designated fundraisers (the preferred term is bundlers, but there are more colorful terms available to us) for his campaign.
The story does a good job of identifying who these lobbyists are and what interests their firms represent. The Post references this joint study by Public Citizen and the Campaign Finance Institute, but it looks to me like their numbers are different than the Post's. The study says that McCain has 20 lobbyists among his bundlers ...
Continue readingBlogs, Traditional Media, and Following Politics
John Podhoretz draws a distinction, in his New York Post column, between those who get their information from the awkwardly-named "Mainstream Media" (I prefer traditional media) and those who follow (or follow, in addition to newspaper and television) political blogs and Web sites, and hypothesizes that the latter are getting a much different election picture than the former. Those on "Blog Time," Podhoretz argues, are more attuned to subtle or even significant shifts of voter zeitgeist: Rep. Harold Ford had a bad week; Republicans have put the worst of the ongoing Foley mess behind them; this district's latest poll looks good for the incumbent, and so on so forth. Those on "Mainstream Media Time," by contrast, are getting fed a steady diet of one way stories suggesting that Republicans are in trouble, according to Podhoretz.
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