Some facts about Bill Daley and his connection to Fannie Mae:
William Daley Served On The Fannie Mae Board And Received Hundreds Of Thousands Of Dollars In Deferred Compensation And Stock Options. “After Clinton passed over Daley for a Cabinet post in his first term, he appointed him to the Fannie Mae board. Daley reported collecting $24,814 in director's fees in 1996 from the firm. He also listed deferred compensation and stock options from Fannie Mae worth between $215,000 and $500,000.” (Charles R. Babcock and Barbara J. Saffir, “In Wealth, Clinton Team Doesn't Look Like America,” The Washington Post, 6/24/97)
- Former Fannie Mae CEO Jim Johnson Recruited Daley For Fannie Mae. “Fannie’s government relations operations dramatically expanded in the mid-1990s, when then-CEO Johnson recruited Washington A-listers Robert Zoellick, who served in the Reagan and Bush administrations; Lawrence M. Small, former secretary of the Smithsonian Institution; and William M. Daley, commerce secretary in the Clinton administration.” (Lisa Lerer, “Fannie, Freddie Spent $200M To Buy Influence,” The Politico, 7/16/08)
- Daley’s Son Is A Former Lobbyist For Fannie Mae. “Daley is a former Fannie Mae board member. Daley's son, William Daley Jr., is a former lobbyist for Fannie Mae. Daley Jr. is now with Morgan Stanley, and he is registered with Cook County and the State of Illinois as a lobbyist for the firm.” (Lynn Sweet, “Ad Ties Obama To Machine,” Chicago Sun-Times, 9/23/08)
Daley’s Subprime Mortgage Mess: “That said, the potential appointment of someone who was sour on the major elements of the president's domestic legislation to the top-ranking presidential position creates some uncomfortable optics. So too does Daley's position, from 2005 through 2007, as a co-chair of the Chamber of Commerce's ‘Commission on the Regulation of Capital Markets in the 21st Century’ -- a committee that played a role lobbying on derivatives regulation and consumer protections -- as well as the fact that JPMorgan Chase, where he served as an executive, had a $30 billion subprime mortgage business.” (Sam Stein, “William Daley, Rumored Chief Of Staff Nominee, Opposed Consumer Protection Agency,” Huffington Post, 1/4/11)
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