Freddie Mac government affairs representative Ira Paull is striking out on his own. So far, Freddie Mac is the lobbyist's only client, but Mr. Paull is talking to other prospects. If he can land enough business, Mr. Paull said, he hopes to hire some additional talent.
Before his three years at the Federal Home Loan Mortgage Corp., Mr. Paull rose to deputy Republican staff director in seven years with the Senate Banking Committee. He also served stints at the Securities and Exchange Commission and Washington law firm Steptoe & Johnson.
"I now have a complete range of experience, including work at a corporation and a law firm as well as on Capitol Hill and an agency," said Mr. Paull. "Also, being both a certified public accountant and a lawyer gives me a unique perspective."
Mr. Paull, 46, helped draft the Federal Deposit Insurance Corp. Improvement Act and the Financial Institutions Reform, Recovery and Enforcement Act.
The balanced budget plan signed by President Clinton Tuesday was a big disappointment for Continental Savings Bank. In the final hours of negotiations, Rep. Bill Archer, R-Tex., refused to include a tax break for the Seattle-based thrift, arguing that provisions benefiting only one or two parties should be excluded.
The measure, sponsored by Sen. Slade Gorton, R-Wash., would have given Continental an extra 15 years to pay $3.7 million in taxes owed on bad debt reserves. Lee Peckarsky, the thrift's lobbyist, said Rep. Archer's decision was unfair. "We thought Continental deserved some special consideration," he said.
Money Store moved its government affairs office to Washington July 28. Pete Mills, director of government relations for the Sacramento-based finance company said Money Store needs a day-to-day presence in the nation's capital to keep tabs on legislation affecting Small Business Administration and student lending programs.
"I was getting on an airplane twice a month to come out to Washington, and I decided I could monitor issues better if a wasn't based 3,000 miles away," he said.
Mary Lukens, a former staff member for the House Small Business Committee, will also staff Money Store's Washington office.
Money Store was the largest lender in the Small Business Administration's primary 7(a) lending program in 1996, issuing 959 loans totaling $713 million.