Another day, another report of a Obama transition team member who just happens to have played a big part in the Fannie/Freddie fiasco:
One of Obama’s top transition team members, Thomas Donilon, oversaw an aggressive, backdoor lobbying campaign by mortgage giant Fannie Mae to undermine the credibility of a probe into the firm’s accounting irregularities, according to a 2006 government report on the company.
The effort — which reportedly included attacks on the funding for the oversight agency, the Office of Federal Housing Enterprise Oversight, and an attempt to launch a separate investigation into OFHEO itself — was ultimately unsuccessful, and regulators eventually discovered top Fannie Mae executives had been manipulating the company’s financial reporting to maximize their bonuses.~~~
Obama transition advisor and ex-Fannie Mae executive Donilon has not been accused of participating in the accounting irregularities. But he did oversee its lobbying, and helped paint a rosy picture of Fannie’s financial health to the company’s board, OFHEO investigators concluded, a picture that was ultimately proven false.
Donilon declined to comment for this article.
President-elect Obama has pledged to change the culture of coziness between officials, lobbyists and lawmakers in Washington. But the role of Donilon in the Fannie Mae scandal raises questions about just how much of a break the Obama administration will be from business as usual inside the Beltway.
How much of a break from business as usual? Absolutely none. It was all talk, and the masses brought it hook, line and sinker for the most part because the media never did it’s job in vetting this Socialist.
Quite curious how the MSM has finally decided to do some digging isn’t it? They even asked the Obama team about this lobbyist and their answer will remind you of the Jim Johnson story. Basically saying the guy is a volunteer….what are they supposed to do with a volunteer? Recall:
“I am not vetting my VP search committee for their mortgages. …These aren’t folks who are working for me. They’re not people who I have assigned to a particular job in a future administration,”
And today’s excuse:
“Mr. Donilon is volunteering his time and more than 30 years of accomplishment to help prepare the State Department for an efficient transition to the President-elect, who is taking office at a time of war and when we are confronting a complex and challenging international environment. Mr. Donilon’s experience in foreign affairs as Assistant Secretary of State and Chief of Staff at the State Department is critical to this review process.”
Anyone get the feeling that this is like a puppet in which the string pullers are now calling in all their markers for the job they did for him?