Business unusual: U.S. takeovers raise myriad questions

Liddy has given campaign money to Bush and Republican presidential nominee John McCain, according to contribution data from the Center for Responsive Politics. David M. Moffett, the new Freddie Mac CEO and a former chief financial officer of U.S. Bancorp, has contributed to GOP congressional candidates.

But new Fannie Mae CEO Herbert M. Allison Jr., who was chairman of investment firm TIAA-CREF, has contributed to Republicans and Democrats, including Democratic presidential nominee Barack Obama. New Fannie Mae Chairman Philip Laskawy, who served as chairman and CEO of accounting firm Ernst & Young, has given most of his contributions to Democrats. And new Freddie Mac Chairman John Koskinen, former president of the U.S. Soccer Foundation, worked in the Clinton White House.

Still, Rep. Tom Feeney (R-Fla.) said politics was bound to play a role in how federal officials run the companies. And that's one reason he opposed the bailouts.

"Government's not equipped to successfully run any of these entities," he said. "We will do a lousy job. Worse than they did."

--

jim.puzzanghera@ latimes.com