August 4 - Yes the political conventions are a series of speeches and party building leading up to the coronation of each party's presidential nominee. But a lot more goes on outside of the broadcast coverage at the conventions – a whole lot of partying. Picture extravagant parties with fountains of free flowing cocktails and an infinite amount of food. Parties held by lobbyists and special interest groups.

Well, that could be conventions of the past. As Craig Holman , Governmental Affairs Lobbyists for Public Citizen says, new ethics laws put a lid on such excess, maybe.

Interview:

One of the major issues before Congress has been the financial health of the nation's two largest mortgage backers. Fannie Mae and Freddie Mac still have enough money to schmooze legislators at both party's conventions. Although they are longer listed as party hosts, they are still putting up the money. Judith Siers-Poisson and Diane Farsetta of PRwatch.org report.