Monday, March 1, 2010

Hayworth V. McCain NEWS: TARP? Nothing “Misleading” re: Big Bank Support for McCain

McCain Says “Misled” On TARP Support;
Nothing Misleading About His Support From Big Banks
PHOENIX, Ariz. March 1, 2010.  Campaign finance records show that during the 2008 election cycle alone, AIG employees gaveSenator John McCain almost $74,000.  Not only that, but AIG also contributed more than $50,000 to the Reform Institute, a so-called “think tank” co-founded by Sen. McCain in 2001. Although the institute billed itself as a “nonpartisan, not-for-profit educational organization,” many critics say it was nothing but a jobs program for McCain’s campaign team. 
In the fall of 2008, McCain left the campaign trail in a near panic to return to Washington where he voted in favor of a bailout despite significant Republican opposition and concerns expressed at the time.
Below is a list of seven of the top 20 (including the top five) donors to John McCain from 2003-2008 as compiled by the Center for Responsive Politics.  It reads like a who's who of companies that received bailout cash.  In fact, while these companies raised John McCain over $1.7 million, they were bailed out to the tune of some $135 billion
 Merrill Lynch (taken over by Bank of America)
 (see Bank of America)
 Citigroup Inc
 Morgan Stanley
 Goldman Sachs
 $230, 095
 JPMorgan Chase & Co
 $228, 107
 Bank of America
 Bear Stearns (taken over by JPMorgan)
 $117, 498
 (see JPMorgan)
John McCain called the bailout bill an “obscenity,” but voted for it anyway.    It included $150 billion in earmarks.  And just last week in the Arizona Republic, the senior senator from Arizona claims he was duped, seeking to blame others for his bank bailout vote.  He repeated the claim on yesterday’s Meet The Press.  Ironically, he continues to tout his “experience” as to why Arizonans should return him to the Senate.    
“John McCain likes to talk tough about the bankers at the center of the economic meltdown, but he still kept their cash.  But as we saw with Charlie Keating, when it comes to financial interests McCain appears to have a blind spot,” said Hayworth campaign manager David Payne, “During the economic meltdown in the Fall of 08, Republicans all across America looked to McCain for leadership, but instead they saw a panicky career politician cave to the special interests and ensure Barack Obama’s election.” 
For more information, please contact Jason Rose.

 Paid for by JD HAYWORTH 2010

1 comment:

RtRepub said...

“The Treasury Department on Wednesday officially abandoned the original strategy behind its $700 billion effort to rescue the financial system, as administration officials acknowledged that banks and financial institutions were as unwilling as ever to lend to consumers.”

-- The New York Times, November 13, 2008