In February 2009, the unhappy Barney Frank vowed “that he wouldn’t accept campaign donations from banks that received money under the $700 billion Troubled Asset Relief Program (TARP) or political action committees tied to such institutions.” Well, well, well, seems this mean-spirited Congressman, just like his party’s leader, will go back on his word when he needs extra cash to win election.
Frank a 15-term Congressman, “has raked in more than $40,000 from bank execs and special interests connected to the staggering government loans, a [Boston] Herald review found“:
But Frank has hauled in thousands from top execs at Bank of America, Citizens Bank, Wainwright Bank, JP Morgan Chase and other institutions that received billions in TARP money.
Just yesterday, Frank made new campaign finance disclosures showing he received $17,000 from top executives of Bank of America — including $2,000 from CEO Brian Moynihan. B of A received $45 billion in bailout money. In all, Frank has hauled in at least $27,000 since 2009 from bank execs — and $13,000 from PACs — connected to banks that received TARP funding . . . .
(Via Washington Examiner.) Guess they know they can count on this career politician to help them out. Barney does seem to turn up when struggling banks are in need of federal cash.
And yet he — and his fellow Democrats — love badmouthing Republicans for being in the pocket of big banks (and big business). Seems those big banks are putting a lot of cash into Barney’s pockets. Wonder if more in the media will take note of his hypocrisy.
Instead of having to put up any more with this Democrat’s double standards, help out the man seeking to retire this big spender who has spent his life in government.
Were those gifts to Frank, or hostage payments to Frank?
Don’t forget, Barny didn’t bail out the banks. The bank bailouts were requested by GOP President Bush and his Treasury Secretary, former Goldman Sachs CEO Henry Paulson. (Paulson also wanted the bailouts to be “non-reviewable by any court or any agency.”) The bailouts passed and began before the 2008 election.
#2: “The bailouts passed and began before the 2008 election.”
Yeah, and Barney Frank and Barack Obama both voted IN FAVOR OF T.A.R.P. Next…
And Barney Frank took money from banks after stating that he would not.
Of course, Auntie Dogma, the Obama puppet and shill who only can repeat Obama talking points and does everything the Obama Party tells it to do, left out that part.
Auntie, please go back and read the constitution. Congress has the power of the purse. Bush may have been president, but Democrats had the majority. In 2008, that unhappy Democrat was chair of the House Financial Services Committee.
That said, still trying to figure out the point of your post. The bailouts may have passed before the 2008 elections, but Barney supported them and, as the post indicates above, Barney said he wouldn’t take money from bailed-out institutions.
Please read the post before commenting. Thanks!
Exactly. More likely, the banks in question are afraid of what Barney can do to them, or will try to.
Campaign contributions and other “donated” perks, are bribes. The bribers often are not morally at fault, because they act in self-defense. We live in a world where the government, not the marketplace, picks which companies live or die. The merit of a company’s product and business practices does not matter; only its political pull. Some people enjoy that state of affairs. They chiefly call themselves “progressives”. But the right name for them is, “fascists”.