Mortgage giant Freddie Mac has begun an investigation into its own lobbying activities. The firm spent $2 million dollars to fight regulations that would have required Fannie Mae and Freddie Mac to sell hundreds of billions of dollars worth of mortgage-backed securities held in their portfolios. The same securities plunged in value when the housing market tanked. High-priced lawyers from Covington & Burling will lead the probe. (Associated Press)
Attorney General Eric Holder embarked today on a trip to review the Guantanamo Bay detention facility. The trip comes in the wake of Obama’s announcement that he intends to close the facility within a year. News reporters were not allowed to accompany Holder on his flight to Cuba, and it is unclear if any part of the visit will be open to press coverage. (Associated Press)
A Pentagon review of Guantanamo Bay has concluded that treatment of detainees at the facility meets the standards set by the Geneva Conventions. The review came as part of the process of closing the facility, something mandated by President Obama. The report is likely to irk defense lawyers, who for years have insisted that treatment at the camps has lead to mental health problems for some detainees. (Washington Post)
A former legislative aide to Sen. Thad Cochran was accused on Friday of taking more than $25,000 worth of meals and event tickets from Jack Abramoff in exchange for helping his clients. Prosecutors allege that Ann Copland used her position to influence members of the legislative and executive branches on spending bills. Prosecutors filed a criminal information, an action that usually signifies a defendant’s intent to plead guilty. (Washington Post)
Financial disclosures filed with the Federal Election Commission show that Christopher Ward may have made unauthorized transfers of cash from National Republican Congressional Committee to a political action committee belonging to former congressman Bob Ney (R-OH). Ward was treasurer of both entities. December 2008 filings by the NRCC show that the $36,000 diverted by Christopher Ward is part of $656,000 in unauthorized transfers from the NRCC made by Ward during his tenure. Ward also appears to have made “several hundred thousand dollars” in transfers to his personal and business accounts from the funds held by outside PACs, according to a statement from the NRCC. Ward is the target of a federal criminal investigation. (Politico)
