The New York Times on Tuesday reported a connection between John McCain's campaign manager and the financial crisis. The story said Rick Davis did consulting work to help Fannie Mae and Freddie Mac. The paper reported that Davis helped the giant mortgage finance firms avoid government oversight. Fannie and Freddie are now under government control because of the nation's financial crisis. Davis said he'd done no work associated with the firms since 2006.
New details indicate that Davis' firm, Davis Manafort, was paid a monthly retainer by Freddie Mac.The firm was paid as recently as last month. And over several years, the retainer totaled $345,000 dollars. McCain's campaign manager remains a part owner of that firm, though he does not take a salary from it.