Why is Obama putting a Fannie Mae/Goldman Sachs lobbyist/consultant as NSA?

Obama last week tapped Tom Donilon as National Security Advisor. What’s Donilon’s resume? I summarized it when folks floated his name as potential White House chief of staff:

He was a top lobbyist at Fannie Mae during the housing bubble, when Fannie fought — with Democratic help — to avoid any restrictions or curbs on its work to inflate home values and get more people under mortgage. Before that, Donilon was a lobbyist at O’Melveny and Myers, where Fannie was a client.

In 2008, according to his financial disclosure forms, Donilon was a paid consultant for Citigroup, Goldman Sachs, and Apollo Investments.

Rep. Cliff Stearns, R-Fla., had a similar reaction to the NSA news, putting out this press release:

“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”

Beltway Confidentialfannie maeGoldman SachsUS

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