"Now that we're in a post 9/11 environment we need a National Security Advisor who has a history of expertise with security issues to protect us against terrorists and not a lobbyist who has a history of running our economy into the ditch as Senior Vice President & General Counsel for Fannie Mae and a lobbyist for Goldman Sachs"
 

Washington, Oct 14, 2010 -

“The American people continue to suffer from the questionable conduct of executives who caused the financial meltdown; yet President Obama is installing some of these executives in high positions within his administration,” said Rep. Cliff Stearns (R-FL -Sixth).  “I am calling on Tom Donilon to decline the position of national security advisor to the President.  His background is in lobbying and politics, and this position should not be politicized.  In addition, unlike the person he replaces, former General James Jones, he has no military experience.”

Explained Stearns, “Tom Donilon was a top executive at Fannie Mae and was instrumental in thwarting efforts to establish regulations that might have uncovered the abuses that caused Fannie Mae to fail. Donilon worked at Fannie Mae from 1999 to 2005 as its top lobbyist, first as senior vice president and general counsel, and later as executive vice president for law and policy.  On leaving Fannie Mae, he was a partner until January 2009 in the law firm O’Melveny and Meyers, which represented Fannie Mae during the financial meltdown.  He also represented Goldman Sachs during this crisis, as did several other Obama administration officials and appointees.  Now President Obama has elevated Donilon to the position of national security adviser.  This is totally contrary to his campaign pledge that he would not employ lobbyists.”  The federal government took over Fannie Mae in 2008 and taxpayers have spent more than $150 billion covering its losses.

 “This administration is full of individuals who had active roles in creating the financial crisis,” added Stearns.  “Consider the President’s former ‘car czar’ Steven Rattner who was involved in a pension scandal and is working on a settlement with the Securities and Exchange Commission.  We need to hold these individuals accountable for their misdeeds and not install them in high government positions.”