Foundersfreedom Blog

American virtue, free speech and renewal

Lobbying for TARP – Dem Chairmen got the most money

Posted by foundersfreedom on February 5, 2009

Here’s the whole story at Center for Responsive Politics:

TARP Recipients Paid Out $114 Million for Politicking Last Year

Some of the top recipients of contributions from companies receiving TARP money are the same members of Congress who chair committees charged with regulating the financial sector and overseeing the effectiveness of this unprecedented government program. They include Sen. Chris Dodd of Connecticut, chairman of the Senate Committee on Banking, Housing and Urban Affairs (he received $854,200 from the companies in the 2008 election cycle, including money to his presidential campaign) and Sen. Max Baucus of Montana, chair of the Senate Finance Committee (he received $279,000). In total, members of the Senate Committee on Banking, Housing and Urban Affairs, Senate Finance Committee and House Financial Services Committee received $5.2 million from TARP recipients in the 2007-2008 election cycle. President Obama collected at least $4.3 million from employees at these companies for his presidential campaign.

Big surprise here.  Dems getting the most money. But what’s most troubling is that GW Bush allowed Democrat Paulson to give out the money any way he wished (see above) while taking all the heat for the irresponsible way it was done.   

Chris Dodd should be run out of the Senate and investigated for corruption with this revelation alone, let alone his sweetheart deal from Countrywide, one of the worst of the subprimers.


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