~ Click here to view the full Freddie and Fannie Become Penny Stocks article.
Who were the lobbyists on Fannie Mae and Freddie Mac’s payroll? Who were the politicians who enjoyed their financial support? Here is where you can learn more:
Freddie’s and Fannie’s Favors
By Matthew Lewis – The Center for Public Integrity (15 Jul 2008)
Powerful Voices on Hill Are Abruptly Muffled
By Jessica Holzer & Damian Paletta – Wall Street Journal (10 Sep 2008)
Fannie Mae – OpenSecrets.org
Freddie Mac – OpenSecrets.org
The bailout will have a significant impact on the law firms that have business relationships with Freddie and Fannie.
Local Businesses Assess Fannie Mae, Freddie Mac Fallout
By Bryant Ruiz Switzky – Baltimore Business Journal (9 Sep 2008)
Legal Times and the Wall Street Journal Law Blog report there were plenty of law firms in on the bailout:
Fannie/Freddie Bailout Pulled in Dozens of Lawyers
The BLT: The Blog of LegalTimes (8 Sep 2008)
Fannie & Freddie: The Legal Edition
By Dan Slater – Wall Street Journal (8 Sep 2008)
They include:
• Cleary Gottlieb Steen & Hamilton represented Morgan Stanley, which advised the Treasury Department on the bailout.
• Wachtell, Lipton, Rosen & Katz advised the Treasury Department.
• Covington & Burling and Davis Polk were outside counsel for Freddie Mac, report the BLT and the Wall Street Journal Law Blog.
• Cravath, Swaine & Moore and Sullivan & Cromwell were outside counsel to Fannie Mae and its board, the BLT and Law Blog report.
Advising Freddie’s independent directors were Cahill Gordon’s Bart Friedman, Jonathan Mark, David Kelley and Charles Gilman. For more on Bart Friedman, who in the past represented Dillon Read, Hamilton Securities Group and Cornell Corrections, see Dillon Read & the Aristocracy of Stock Profits.
Advising the Federal Housing Finance Agency were Arnold & Porter’s A. Patrick Doyle, Richard Alexander, Michael Mierzewski, Brian McCormally and John Hawke.
For more on John Hawke, see Dillon Read & the Aristocracy of Stock Profits and Mortgage Bubble Names and Faces.
Also see:
Fannie Mae, Freddie Mac Takeover Costs Congressmen Who Were Invested
By Lindsay Renick Mayer – OpenSecrets.org (10 Sep 2008)
Update: Fannie Mae and Freddie Mac Invest in Lawmakers
By Lindsay Renick Mayer – OpenSecrets.org (11 Sep 2008)
