Perhaps a little from column A and a little from column B:

One of the giant mortgage companies at the heart of the credit crisis paid $15,000 a month from the end of 2005 through last month to a firm owned by Senator John McCain’s campaign manager, according to two people with direct knowledge of the arrangement.

The disclosure undercuts a statement by Mr. McCain on Sunday night that the campaign manager, Rick Davis, had had no involvement with the company for the last several years.

Mr. Davis’s firm received the payments from the company, Freddie Mac, until it was taken over by the government this month along with Fannie Mae, the other big mortgage lender whose deteriorating finances helped precipitate the cascading problems on Wall Street, the people said.

They said they did not recall Mr. Davis’s doing much substantive work for the company in return for the money, other than speak to a political action committee of high-ranking employees in October 2006 on the approaching midterm Congressional elections. They said Mr. Davis’s firm, Davis & Manafort, had been kept on the payroll because of Mr. Davis’s close ties to Mr. McCain, the Republican presidential nominee, who by 2006 was widely expected to run again for the White House.

The Obama campaign has talked about how McCain surrounds himself with lobbyists while posturing to be against the “special interests,” but this takes it to a new level.

Freddie Mac paid Rick Davis’s firm $15,000 a month for more than 30 months (that’s $180,000 a year for nearly three years) for doing no work other than staying close to McCain.

McCain either doesn’t know what’s going on in his inner circle or brazenly lied to the press. How can we trust him to run the country?

Speaking of McCain, after the jump I’ve posted a new viral e-mail that’s going around with the subject line, “You owe $2,293.53 dollars to Wall Street Fat Cats… check, cash or charge?”

The e-mail discusses how McCain and his adviser, former Senator Phil Gramm, voted to deregulate the banking industry, which led to the current stock market meltdown. Click here to read two alternative versions of the e-mail, playing on the same concept. Pass it on!

My Friend,

You owe $2,293.53 dollars to Wall Street Fat Cats Inc. will that be check, cash or charge?

How do you owe this money?

It’s simple, George Bush wants a 700 Billion dollar bailout for Fat Cat bankers.

–700 Billion dollars (7,700 Tons of $100 bills) divided by the current U.S. population = $2,293.53

–Your cost: $2,293.53 dollars to Wall Street Fat Cats Inc., will that be check, cash or charge?

–Please send this amount to the billionaires on Wall Street.

–Remember your manners… don’t forget to write a note thanking Phil Gramm, George Bush and John McCain for the bill.

How the hell did this happen?

In 1999, after 60 years of successful regulation under the 1933 Glass-Stegall Act (enacted after the Market Crash of 1929 that happened under Republican President Herbert Hoover), Republicans like Phil Gramm, John McCain and a bunch of Bank Lobbyists decided deregulation was a good idea. Let the banks do what they want! As predicted, we’re now facing another stock market meltdown.

–Phil Gramm authored the Gramm-Leach-Billey Act of 1999 to deregulate banking

–Phil Gramm even added the famed “Enron-loophole,” to a deregulation bill in 2000.

–Enron made even more money through outright consumer fraud.

–Hard-working folks saw their pensions evaporate, Fat Cats made off with Billions.

Now you owe $2,293.53 for the latest deregulation scheme by Gramm and McCain.

We can’t afford more of the same with John McCain.

Why didn’t the Financial markets learn their lesson?

Here’s a flashback:

-In 1982, under Republican Ronald Reagan the Savings and Loan/Banking industry was deregulated.

-Again, Republicans Phil Gram, John McCain, Lobbyists and fat cats like Charles Keating decided deregulation was a good idea. Let the Savings and Loan Companies do what they want!

Results were frighteningly similar:

-Tax payers bailed out Fat Cat Bankers like Charles Keating with $124.6 billion.

-John McCain took thousands of dollars of gifts and campaign contributions from Keating.

-John McCain’s gift to Charles Keating was the deregulation of S & L banks.

-Google “Keating 5” and you’ll see it all.

The pattern is simple:

-Republicans like John McCain, Phil Gramm and Lobbyists deregulate.

-Wall Street gets rich.

-You pay the bill.

Now you owe $2,293.53 for the latest deregulation scheme by Gramm and McCain.

Now John McCain the “Great Deregulator” wants to:

1.) Deregulate Health Care

2.) Privatize Social Security

We can’t afford more of the same with John McCain.

You owe $2,293.53 for the latest deregulation scheme.

How do you think Health Care and Social Security will turn out if John McCain and Phil Gramm get their way?

The thing is–Wall Street doesn’t care if you lost your job, or if you can’t make your mortgage. But when they need a bailout, it’s “Hello Big Government!”

Thanks,

Wall Street Fat Cats Inc.

P.S.

Your kids owe $2,293.53 no matter how old they are.

Your parents owe $2,293.53 no matter how little they make.