Former Democratic power broker James A. Johnson dies at 76

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Besides running Mondale’s failed run for the White House against Ronald Reagan in 1984, Johnson was a key player in the presidential campaigns of Eugene McCarthy, Edmund Muskie and George McGovern.

He turned his political savvy into business success. David O. Maxwell, former head of Fannie Mae, hired Johnson as vice chairman in 1990, after Johnson had helped the company hold off privatization efforts by the Reagan administration. Johnson was promoted to chairman and CEO the next year.

Johnson immediately set his sights on maintaining Fannie Mae’s lucrative government privileges and ensuring that new regulations were not overly burdensome. Johnson and his lobbyists helped fashion a 1992 law signed by President George H.W. Bush that aimed to reduce the chance of an expensive…



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