This should make you grind your teeth into sand-like particles……
From Newsweek
“There was plenty of outrage on Capitol Hill last week over the executive bonuses paid out by AIG after getting federal bailout money. But another money trail could make voters just as angry: the campaign dollars to members of Congress from banks and firms that have received billions via the Troubled Asset Relief Program.
While a few big firms, such as Wells Fargo and JP Morgan Chase, have curtailed their campaign giving, others are quietly doling out cash to select members of Congress, particularly those who serve on committees that oversee TARP. In recent filings with the Federal Election Commission, the political action committee for Bank of America (which got $15 billion in bailout money) sent out $24,500 in the first two months of 2009, including $1,500 to House Majority Leader Steny Hoyer and another $15,000 to members of the House and Senate banking panels. Citigroup ($25 billion) dished out $29,620, including $2,500 to House GOPWhip Eric Cantor, who also got $10,000 from UBS which, while not a TARP recipient, got $5 billion in bailout funds as an AIG “counterparty.” “This certainly appears to be a case of TARP funds being recycled into campaign contributions,” says Brett Kappel, a D.C. lawyer who tracks donations. (A spokesman for Cantor did not respond to requests for comment. A spokeswoman for Hoyer said it’s his “policy to accept legal contributions.”)
The cash flow is already causing angst inside the Beltway. “The last thing I want to do is wake up one morning and see our PAC check being burned on C-Span,” said one bank lobbyist, who asked not to be identified because of the issue’s sensitivity. House Speaker Nancy Pelosi and House Financial Services chair Rep. Barney Frank both said recently they won’t take donations from TARP recipients. But House Democratic fundraisers have quietly passed the word that the party’s campaign committee will resume accepting them—but down the road, not right now. Said one fundraiser, who also requested anonymity, “These are treacherous waters.”
HT: Michelle Malkin
Iris, we live in Iola, KS and we to are ready to brew the pot. One april 15th our small community is planning a courthouse lawn protest at noon and we will caravan to a bigger party, hopefully in Pittsburg, KS or Johnson County. If anyone is interested in a Pittsburg rally, I have some Congress people interested in coming to our area………you can contact me
Thank you, Iris. I agree with you 100%. We need to appreciate and defend our rights from the Founding Fathers and should not take them for granted.
I’ve attended every “Tea Party” (4 total in the last 30 days with more planned) in our area (Kansas City, MO/Overland Park/Olathe/Leawood, KS) except 1 (in bed sick with a bad cold) or I would have been there.
Have I ever been involved in a protest, no! Have I been involved at the grassroots level of the political process (yes for 20+ years) because it is my duty as an American, Christian, wife, self-employed sole proprietor, daughter and aunt to hold those we elected to be accountable to, WE THE PEOPLE.
Though on the surface it may appear the Tea Party “movement” is solely about runaway spending/poor fiscal policy, etc. (and it may have germinated from this), Tea Parties are really a response to bad policy as a whole.
Why do we have so much bad policy? Indifference, apathy, laziness, sheer ignorance, gullibility, etc. by the citizenry at large. Taking for granted the privilege that is voting and electing the wrong people.
Why is this?
Because it takes time and effort to dig deep and find out what each political candidate running for office really stands for; don’t believe the rhetoric without fact checking. Not voting in a primary or not voting at all, what a shame!
When we vote, we elect unqualified people (as evidenced by the sheer number of buffoons in Congress, both state and federal). But the election booth is where real CHANGE can take place. Again, voting is a privilege and should not be entered into lightly nor uninformed. Taking for granted the rights our Founding Fathers fought so hard for; rights we don’t seem to hold so cherish and hold dear anymore, that is until taken away.
The “golden years” were been a mirage that led to apathy and here we are. It is time to take back what we have so easily given away over the last 40+ decades but there has to be a powerful willingness to sacrifice our time and treasures if we are going to change the course of our Republic.
When any government ignores the people you can be certain apathy is aider and abettor in their abuse of power.
My bottom line is this: Public Policy that Promotes
o Upholding the Constitution
o Limited Government
o Free Markets
o Individual Liberty
Wake up America!
[...] particular, Jinksto left me a comment on yesterday’s post bringing to my attention that the focus should not be on AIG bonuses or on bail-out funds being [...]
Well said. Does this really surprise anyone? The bonuses and campaign contributions are just a drop in the bucket compared to the overall picture. The government continues to print, hand out, redistribute, subsidize and throw away OUR money at a mind boggling rate with no end in sight. Ron Paul said yesterday our country is already bankrupt. How can any responsible, tax paying citizen of this country continue to let this mindless spending go on without standing up and shouting “ENOUGH!”
I don’t know that I care. It’s a distraction from the key issues. Just like the AIG “bonus” fiasco… That made so much news… So much excitement… so much “fury” that none of us really felt but that the media constantly reported on… that no one blinked when the government passed a 90% tax… a 90% RETROACTIVE tax. If they can manipulate the media and our outrage like that a few more times we’ll be too broke to bother with rally’s and protests. Even if we find that the bonus’s weren’t contractual, the difference between what AIG “stole” (legally) and what this government has stolen from us isn’t even on the same scale. Those bonuses were only a small part of what has already been stolen from us. If someone robs my house and takes my stereo and then someone else steals the speakers from him… so much the better. Focus. Stop the original theft and the waste and you stop the secondary “theft”.
[...] Ryan444123 dot Com added an interesting post on TARP Funds Going Back to Politicians as Campaign DonationsHere’s a small excerpt…months of 2009, including $1,500 to House Majority Leader Steny Hoyer and another $15,000 to members of the House and Senate banking panels. [...]