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GONE WITH MY WIND: McCain's Top Advisors Were Recently Lobbyists For Ameriquest Mortgage

Tuesday, April 1, 2008

McCain's Top Advisors Were Recently Lobbyists For Ameriquest Mortgage

More BS from the "Strait Talker".

When Sen. John McCain addressed the nation's burgeoning mortgage mess last week, he insisted it was time for a little "straight talk."

"I will not play election-year politics with the housing crisis," the GOP presidential hopeful insisted while unveiling his plan, which many have since described as friendlier to the mortgage industry than the Democrats' proposals.

What McCain did not say - which some believe smacks of politics - is that two of his top advisers were recently lobbyists for a notorious lender in the mortgage meltdown.

John Green, the senator's chief liaison to Congress, and Wayne Berman, his national finance co-chairman, billed more than $720,000 in lobbying fees from 2005 through last year to Ameriquest Mortgage through their lobbying firm, disclosure forms reviewed by the Daily News show.

Ameriquest, which since has been bought out, was forced to settle suits with 49 states for $325 million. More than 13,680 New York homeowners got taken for a ride by the company, records show.

"They would be defined as the most blatant and aggressive predatory lenders out of everybody," said Bruce Marks, head of the nonprofit Neighborhood Assistance Corporation of America.

Despite their past familiarity with the issue, neither Green or Berman had any input into McCain's plan for dealing with the lending crisis, aides to the Arizona senator said last week.

"Sen. McCain has never done anything that would violate the public trust and he has never done favors for special interests or lobbyists," said McCain spokesman Tucker Bonds.

While far from a bailout for the mortgage industry, McCain's plan focuses on less regulation for lenders - in sharp contrast with proposals by Democrats Hillary Clinton and Barack Obama - and suggests as a first step convening a big meeting of top mortgage lenders.

But the migration of Green and Berman to McCain's campaign comes as the Arizona senator faces criticism on other fronts for aligning himself with lobbyists, whom McCain often derides - but relies upon to staff his campaign.

They include McCain campaign manager Rick Davis, a former telecommunications lobbyist, as well as Thomas Loeffler, McCain's national finance co-chairman, who recently helped Europe's Airbus consortium land a deal for Air Force tankers.
As usual St. McCain will be getting a free pass from the media on this whole flip-flop.

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