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Financial Bailout: K Street hurting too?


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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