…Rick Davis–under the spotlight because of his work for mortgage giants Fannie Mae and Freddie Mac–is skipping a Wednesday lunch with reporters sponsored by the Christian Science Monitor.
On Tuesday, word came that McCain political director Mike DuHaime will substitute for Davis because he is "heading out on the trail" today.
"Heading out on the trail"? Is that what they call "getting reamed out in person for publicly lying and getting caught" these days?
Since the McCain campaign official statement denies that Davis was "lobbying," perhaps McCain can explain why Freddie Mac agreed to monthly payments of $15,000 per invoice which Davis personally requested from them?
What exactly was Mr. Davis doing to earn this "fee?"
As Ben Smith points out, McCain issued a non-denial which fails to address "the $15,000 monthly payments from Freddie Mac, which began while Davis was still running the firm." Further, McCain fails to explain whether he knew about them, approved Davis’ role in securing them, and how that squares with McCain’s snippy call for reporters to look into Davis’ lobbying ties.
Worse, McCain fails to reconcile this with the memo Davis sent out to McCain’s campaign staff back in May which called for a re-vetting of McCain’s staff because of cronyism and self-dealing lobbying concerns which called for firing anyone who failed to disclose potential conflicts. Was there a re-vetting of Davis? Were these Freddie Mac payments not disclosed? If so, will Davis be fired?
Or, if McCain knew, what was his opinion of this influence buying payola? Because given Davis’ role as a named principal of Davis Manafort — yes, that’s his name first, and he’s only "on leave" from his lobbying firm — it’s inane to think a financial benefit doesn’t accrue for business Davis expressly solicited.
Further, perhaps McCain could kindly explain why he forked over $30,000 to Davis Manafort as of the April quarterly FEC filing.
I’ve asked several people with accounting backgrounds, and uniformly I’m told that the entity issuing the invoice is the one annotated for payment as the "payee," so that the "payor" (in this case, the McCain campaign itself) can keep a running track of who has requested payment and for what. Had it been a reimbursement voucher submitted by Davis, the annotation would have been to "Richard Davis," as every subsequent payee notation indicates.
So, why the anomalous payment to Davis Manafort? Inquiring minds and all that.



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Cronies First
Great post Christy!
This is really “Bizarro World”, isn’t it?
Hmmm…maybe that explains the McCain bailout.
hmmmm, no wonder he doesn’t want to debate Friday night.
Questions, questions, those damned bloody questions…..
now where are my strawberries?
It was the best kind of Washington lobbying: no work product, no need to show up.
Just access to an officeholder, in this case John McCain.
mebbe,plus…..Obama is a tall order, no?
hahahahahahaha
Nice try on the change the subject maneuver there, McCain…
Wolf just said that the electoral count may have something to do with McCain’s decision to suspend his campaign.
Hmmm…
How many
hoursdaysweeksmonthsnever do you think it’ll be before the media start connecting some of these dots?ot – house financial services committee hearing with paulson and bernanke.
all the statements are about illiquidity. is that correct? or is the problem insolvency?
Because I am so funny, EPU’d:
Ole Miss has South Carolina at home next week. If you think they are gonna mess with setting up the tailgaiting in the Grove for some rinky dink debate you are whistlin Dixie!
Rick Davis may be gagged, but he still managed to sing as he walked out the door
Oh what a tangled web we weave when first we conspire to deceive
Paulson saying that ordinary Americans should be afraid. Where have I heard this before?
So now McCain will be missing in action.
Palin is already missing in action, and now Rick Davis..missing in action.
Teehee Reid doesn’t want them to come back.
mebbe his 800,000,000.00 $$$ ill begotten means should be distributed to assuage FEARS
So, if this emergency is like 9/11, will W tell everybody to go shopping again?
Hey, you can’t call a POW an MIA.
Did you know he was a POW?
What exactly was Mr. Davis doing to earn this “fee?”
I can only come up with a bunch of *totally* inappropriate answers….
Reid’s statement per TPM:
Tanking poll numbers, Rick daivs in trouble…Palin hiding at Dick’s place. All good news for McCain
Could be that the McCain “suspension” gambit is really designed to head off any further digging into the Davis scandal. Reid has already come out saying that the two candidates should not be using the Congress-White House bailout negotiations as a “photo-op” for the presidential campaign. Pelosi should do the same on the House side. The last thing that America needs right now is for presidential politics to clog up the Congress-White House negotiations.
From what I can read so far of Obama reaching out privately to McCain on the subject of bilateral statement on the bailout negotiations, it looks to me as if McCain has tried to sandbag Obama with a unilateral declaration of his own.
Obama due to speak at 4:45 PM (EDT)?
too late…GREENSPIN aint there anymore to lossen money supply
I prefer “Ride of the Valkyries”…you know, incoming, we are mad as hell, we’re not gonna take Rethug bullshit anymore.
cont’d from Reid:
“If there were ever a time for both candidates to hold a debate before the American people about this serious challenge, it is now.”
Nope, this time it’s “grab your c*%^k’s and pull up your socks”!
Don’t know if any outsider knows. They’re saying it’s liquidity problems during the deleveraging process. But we don’t know how many of the “assets” that were created are worthless, so there could be insolvency problems too.
Nobody who knows the real situation is talking straight, so we all don’t know. At least on Iraq WMDs there was more than enough info in the common domain. But the info on the financial meltdown is all secret.
I had to hold myself back from making an utterly crude and nauseating lap dance reference myself. *G*
707
politics of fear (paraphrase):
if we don’t do this, we have to tell people: you may not have a job, you may not have a car and your kid is not going to college.
Could be that the McCain “suspension” gambit is really designed to head off any further digging into the Davis scandal?
Seems to me that if there is no campaigning, all those reporters that McGramps has pissed off will have to come up with *something* to write about.
gee, I wonder which direction they’ll head….
heh.
Private message me, I’ll do it!!
hhaahahahahahahaha”G”
Or, we could paraphrase by simply saying, “Hello, shock doctrine. And how are you today?”
OT There is an official name change – ve vill schtop calling ze transfer of ou money to vall street a bailout eet shall be called ze rescue plan. Use of zee term bailout ees verboten!
Nope, this time it’s “grab your c*%^k’s and pull up your socks”!
I thought Kissinger’s meeting with Sarah was yesterday….
Has any Republic stepped up to say that it is critical for McCain to be in Washington instead of at a debate yet?
funny how it didnt bother them LAST week……well not so funny
No more double espresso shots for you, my man. *G*
there should be some requirement for telling us what they think they know – so at least we try to evaluate their thinking. they could be totally bullshitting us, or hiding a more serious situation than we know.
One thing is to cancel a debate…okay…but “suspend your campaign?”…so over the top.
So the campaign manager is bought and paid for, and the chief of staff is gay.
Christy
This is from the WaPo0’s The Trail this morning as part of their poll analysis but fits here:
Thus far, only SHort Ride Joe has ridden to his side as far as I’ve heard. Totally unexpected ass kissery, that one…
Raven,
You are so on the mark about the Grove. McCain imperils one of those tailgates at his own (clueless!) risk.
i don’t know. The media so far is calling it a ploy, questioning he not being able to multi-task etc.
:)
well if he paid 5,000 for a make-up job,prolly pays alot more for a B– job
people have no clue, we have game day here this week and this place is already nuts!
Is Bush still in Washington? Is he doing anything? It seems like McCain doesn’t trust him to handle the crisis.
Lindsay Graham did too.
Surprise!
They never tell anyone outside the loop during financial meltdowns/bailouts. During the LTC debacle in 1998, I was working with a woman who was able to analyze what was going on thru her in depth knowledge of how financial markets work. I’m out of my depth here. I’ve emailed her but she hasn’t figured it out yet.
Your “shoulds” are right, but it’ll never happen.
Jeez, the wheels really are coming off the
straight talk expressbus, aren’t they?I’m not sure that Joe doing the expected thing really counts for much here.
I hate the Internet!!!!!1!11!!!
Just spent 10 minutes on the Rupert Holmes Wiki page and his official site…all with a mountain of work to get through. Dammit.
I so did NOT need that mental image. Ugh. *g*
It wouldbe nice to hear her thoughts on it once she has figured it out. Do keep us updated
Is short ride in DC
obama up
barak up
I suspect the fear is that if they give out too much information on what is going on, that there will be an ever-quickening stampede for the exits because, alas, no one really seems to know exactly what is going on at the moment.
At least that’s how it seems from the cheap seats, anyway. Lots of bluster, bot a lot of substance.
ooooo, barak taking credit
At least we had a lot of Nancy Photomat today.
In going back to Washington, McCain is probably imagining himself to be like MacArthur, wading ashore onto the Philippine island of Leyte, fulfilling his promise to return.
just some wishful thinking on my part – that the dems would, if nothing else, demand transparency before giving the administration one dime.
maybe in a parallel universe.
fingers crossed that your friend can decode the evidence.
Obama – “I reached out to Senator McCain – *I* initiated the call…”
Should’nt Sarah Palin be ready to step up on day one and take McCain’s place at the debate if he can’t be there? Bah, ha, ha
i might buy that if congress and the administration didn’t have a track record of not telling us anything. imo, they do not deserve the benefit of the doubt from us.
The suspension of the campaign included ad buys McPalin is hoping will not
hit the air – hope Obama doesn’t tag along for a ride on this crazy train.
707! Can’t you just visualize McCrazy visualizing that???
Does anyone know what Obama is saying? Seems like he’s running off at the mouth & not getting to the point.
o/t
just in case you missed this yesterday -more of them pesky veterans :D
That’s their theory. My view of their motivation for secrecy is a darker one. Knowledge is power and they want the control.
I’m not saying I give them the benefit of the doubt — I’m saying they and the WH neither one seem like they know what in the hell is going on. It’s like watching a giant conference of Chicken Littles who just realized the sky is falling, but have no freaking clue as to why.
Obama waffling.
reiterating his stance on what the bailout package should contain and the events that had happened today.
So McCain did not tell him that he wanted to suspend when he talked to hi this afternoon so…..
now we get to the bones of the matter. Debate never more needed than now
Thx, wonder where the Gathering of Eagles were?
I think he’s planning on giving a prime-time address to the nation tonight.
9pm est
okay 708!!!!!
that, i think, is consistent from everything we’ve seen these last few years.
He is not answering directly whether he will attend the debate. Says McCain thought they should suspend the debates in phone call this afternoon…but Obama wasn’t clear if it was definitive. Their campaigns are working on it together. Partisan politics need to be left out of this kind of serious situation.
Sounds like there will be no debate.
Barraks doing ok
he is flexable
i think he just addressed that
He said that a president needs to be able to do several things at the same time.
don’t do it Barack! don’t do it – McBluster went All In – call that klown’s bluff !!!
But on financial crises it is bipartisan. Each & every admin that I lived thru anyhow.
GOBAMA
Yes. His As to the Qs are much better than his prepared remarks.
he thinks the debate should go on
TOTALLY
we both have big planes…hahahahahaha
“Presidents need to be able to do more than one thing at a time”…heh.
It may be necessary for both of us to be present to send forth a strong message.
I believe that we should continue to have the debate, present ourselves to the American people, to talk about out positions on the economy and how it relates to foreign policy. We both have big planes…they can get us from DC to Mississippi quickly.
Obama said Presidents have to do more than 1 thing at a time and he plans to debate Fri.
Barack stated he wants to go ahead with the debate. three times so far
Obama is essentially saying – *I’m finding it to be possible to stay on top of this just fine from where I am.”
Now giving examples of what some of us, in the reality-based world, call multi-tasking.
Now says it *may* be necessary for both candidates to be present in Congress. Must not have heard Harry’s staement (or maybe he did, and out of habit, ignored it).
“Hey, we’ve both got planes. It doesn’t take very long to fly from Washington to Mississippi.”
we can do both
Great. I think he handled this very well.
Preparing to debate on Friday
I wrote the comment before he addressed it directly.
That’s correct, so why is McCain pretending like Bush doesn’t exist here?
me too
the man is thoughtful,yes he is
Because he’s been waiting for a chance at public payback since the 2000 primary? *g*
so he did mention suspension to Obama before he made itpublic but man don’t you want to wait to hear fromt he other campaign before you make your announcement?
Once again it appears that mcShame has rushed off all kinds of brash without thinking stuff thru.
It takes a long time when you have to put on or remove all the wiring you need to be fed responses during the debate. You can’t even get close to a metal detector with that stuff on.
Per TPM
Great answer!
Obama wants to debate – McGramps doesn’t.
Who looks stronger?
Wow, I just turned on tv 40 minutes ago. Obama does waffle but also acts presidential. Did McCain have a press conference?
Shumer…what McCain did was weird, odd…we haven’t heard anything from McCain during these negotiations.
He read a statement and took no questions
McCain is pretty much out of cards. His only real hole card was his Veep choice. He played that one pretty well. Even though Sarah Palin is woefully unqualified to be President, his choice of her has energized the right-wing base, and it distracted everyone from how well the Democratic convention went, which prevented Obama from pulling away in the polls several weeks ago.
Unfortunately, the Bush stall-everything-until-after-I-leave-office plan didn’t quite make it to the finish line in terms of the economy, and McCain is in deep shit. Obama’s obvious play is to offer to negotiate the bailout until he and McCain can find some common ground that they both support. McCain’s move (and the Republican plan in general) will be to simply stall, let a few banks fail, and make the Dems (and Bush) pass some crappy bailout that McCain can then run against. Obama isn’t going to bite. And McCain’s plan to skip the debate won’t fly, either. Obama can just ask, “We should we go to Washington to talk in private when we can go to Mississippi (or wherever) and talk in front of the people?”
The only Hail Mary that McCain has left is to promise the American people that, if he wins, he’s not going to run for re-election in 2012. That won’t work, though. The obvious reason for him to only serve one term is that he’s really old. If he’s going to be too old to be President in 2012, then he’s almost-too-old in 2008. He’s done.
I’m thinking we may have just witnessed one of the Greatest Face Plants in American Political History
Not yet. McCain’s dialog is still being worked on.
Per MSNBC
WH taking issue with the way McCain characterized the status of the bailout
If LIEberman and Huckleberry running to the aid of McHoover at this time of “Crisis” is a surprise for you… better sit down.
.
.
.
SPOILER ALERT!
.
.
.
Ok, sitting down?
.
.
.
(ahem) (cough)
.
.
Clay Aiken is GAY!
Is McShame being “presumptious”
Shumer…McCain could upset some very delicate negotiations. It was a political stunt.
Oh, we are supposed to stop politics as usual. The neo-cons are trying hard to STOP ALL DEBATE. This Rick Davis bombshell might unravel a whole lot of other stuff. Perhaps, Paulson will tell Skeletor to cancel the election. SHOCK DOCTRINE is too important to be stopped by an election.
Of course, a suspended Crazy Campaign is no different from his normal campaign.
Show me a difference in the Clintons regulatory policies towards Wall Street and the Bushes
I hope it gets remembered exactly that way.
McCain is afraid that he’s going to miss his nap. That’s why he can’t do two things at once.
heh
tweety on my teevee
Ahhhhh, Sit! Wolfie desperately trying to push the McCain-Lindsay Graham spin. Schumer’s havin’ none of it.
hmm McCain looks rattled during his presser
Looks like McCain forgot that there are other Democrats in the Senate. Getting old can be challenging.
re bipartisan. so was fisa, the mca, iraq war, iraq war funding….. sometimes there is a bit of kabuki, sometimes not. but it’s all been “bipartisan”
good
see my #111
more similar than different i think.
Who is Clay Aiken?
JK
Did he mention that he was a POW yet? He was, ya know.
im afraid he looks very badly
Well that’s the question isn’t it? The derivative instruments aren’t directly backed by the mortgages, or don’t seem to be because the titles aren’t clearly held by the derivative holders. So really at the moment these instruments have no value or no determinable value. A lot of the holders of them could very well be insolvent because these are no longer assets but losses.
However if the government comes in and buys this crap then it will have whatever value the government places on it. From this perspective then the crap becomes again an asset and so for a while it was illiquid but now is liquid. Holders still could be insolvent though if the new price of these assets doesn’t cover their other losses.
Now the part I don’t get is this. If the government buys the paper but not the titles, it will get the cash flow from it minus that portion which are in default. But what happens to the defaulted ones is unclear because who holds the title is unclear. Indeed it is unclear how the government can organize refinancing for any of the underlying mortgages because again no one knows who really holds title.
Moving along, if the government buys up the underlying mortgages, who gets the cash flow, the government or the holders of the derivative paper?
The only way around this is for Congress to pass a law which says that who owns the paper owns the title, period. Now this works for the first generation of derivatives. If you have derivatives based on derivatives for who knows how many generations then title, value, and cash flow just become more and more opaque and incomprehensible. I have heard nothing about this. Personally, I would say beyond first generation derivatives, screw them, but that’s just me.
Schumer telling Wolf that Dems are closing to getting everything we want.
Bush put some of Clinton’s plans on steroids. For example five investment companies were allowed to gamble up to forty dollars for every dollar they held. I bet you can imagine what investment companies they were. Bush suggested the change in 2004. How bout mortgages being issued with no money down.
If McCain isn’t pushin’ a stunt, why are Lie-berman and Lindsay-graham-cracker being his spokesbots?
tweety on my teevee
get him off of there!
got any bug-spray?
thanks missed that.
what points? have you seen any documentation? i am hopelessly behind.
OK…but what about the 2% they didn’t go for. Details. Someone is screwed and someone is making out like a (literal) bandit with that 2%.
MSGOP said Obama is against the dems platform on the bailout…wtf?
That will be the next presser
per Hunter/ kos
McCain standing on the side of the road while the world and the day pass him by.
Sorry, Johnny Mac, your stunt ain’t gonna work.
Desperado….
against some of the things dems wanted in the bailout
Let me see if I can find it for you
Maybe suspending the campaign has to do with the Rick Davis problem….maybe there something really, really big behind all of this.
I think the exec pay, the oversight, etc.
i am so confused. hoping to try to sort some of this out when i’m not trying to listen, post a youtube and 6 other things.
Obama: in my mind it’s more important than ever that we describe ourselves to the American people, where we want to take the country going forward….
His campaign is freefalling and they need some sort of distraction
Why would you pull all of your ads just because you are going to go pretend to work on something that you aren’t even involved in?
I smell a rat.
SusanG has synopsis of Obama presser
WHy doesn’t he send Palin to Washington? If she’s qualified to be President (in the event of McCain augering in), surely she’s already got the clout to go twist Congressional arms.
Make-up magician wasn’t there he needs to put Elizabeth Dole on staff
Why is Schumer picking on a Prisoner Of Wallstreet?
Be back later pups
have to go run some errands
If that’s anywhere near true, then we’re obviously not asking for enough. This needs to be the legislative equivalent of chemotherapy–painful and nauseating, but better than the alternative. I needs to be something that Wall Street HAS to take in order to survive, not something it WANTS to take.
Does he have anyone actually managing his campaign at the moment?
I thought Bush was working with Osama on that. Those pesky Arabs never do anything on time.
that sounds like kabuki to me.
thanks.
The deal on the “bail out” is 98% done. Treasury has capitulated on almost every point. A draft is circulating on the Hill now. No one needs McCain to help do the remaining 2%….except the White House who has no standing on this matter on the Hill with either Democrats or Republicans.
Paulson is testifying like there has been no capitulation so far. The other question that arises is if the Congressional plan is mostly the Paulson plan with tweaks then the capitulation isn’t really a capitulation.
I think McCain Mgmt 101 requires that he fire all their asses.
I’m waiting for the other boot to drop…there must be something really bad going on for McCain to suspend his campaign..maybe he’s gonna have to withdraw his candidacy at the last moment, and then they’ll stick Mittens in or something.
Oh No! Pickles, what are you thinking?
Debate Commission going full steam ahead…Obama will debate…Tweety saying that “in all fairness”, McCain only suggested not debating…
So, he’s “maybe” gonna debate while his campaign is suspended???
My wild ass guess is that he is
a. changing the subject from rick davis
b. going to take credit if things go “well” and look like a reformer.
The debate commission say, “Not So Fast”!
McCain can begin each of his debate statements or answeres with “Let the record show that the Republican cadidate is here under protest.”
Oh, God. Even Laura Bush thinks Sarah Palin is a lightweight.
mccain has a debate with himself every day!
Doug Holtz-Eakin, Crazy Spokesman: 9-11 9-11 9-11 9-11…
It’s Billionaire Bailout Week in DeeCee…let the follies continue….
new thread up
The suspended non-campaign, campaign is now spinning the whole story….McCain “reached out to Obama” and then Obama called him…
We don’t want them seen side by side during a 9/11 style crisis…or words to that effect..
in addition to the Davis problem – and I was thinking today, someone may have broken a law wrt lobbying/retainers, etc., but tens of millions of americans are gonna be staring at charges of adultery against Sarah Palin as they stand in the grocery store line next week
Empty Chair debate?
My wild ass guess is that he is jumping through his ass and out of control
Maybe the Alphabet Guys have drudged up something???
this reminds him of when he was a POW and couldn’t do what he wanted to do
They could set up a speaker on the chair and let McCain’s handlers answer directly instead of having McCain wired-up to parrot their answers.
Is that story up and running again? Oy.
Maybe Sarah Palin should “stand-in” and be vice presidential and debate Obama on Friday!!!
Who knew that he was a POW?
Hatch saying Clinton administration wanted this mess…
oh how about that dood Phil Gramm?
Puppet Of Wallstreet
Maxine Waters saying McCain doesn’t understand the economy and isn’t prepared for the debate.
How about First Dude Todd Palin step in for the debate? I think he’s free then.
after watching the house financial services committee hearing today, i’d say mccain has lots of company in congress.
oh yeah. it’s on !
and it’s a world gone mad for this dfh that I am even referring to a tabloid
what did Barney say at the end? my transmission cut out just when he said I don’t want to cause offense (or something like that)______________
How much money has Wolfie lost in this crisis?
CNN reading emails ripping McC for the debate stunt.
Now that the Campaign is suspended, Palin & First Dude can high tail it back up to Alaska & testify in that little Troopergate scandal.
This stunt today gets the Rick Davis fiasco off the front pages.