Thursday, April 22, 2010

McCain sends out desperate letter pleading for funds for radio & TV ads, pretends he doesn't support pork barrel spending

Coincidence? Biggest contributors to McCain campaign are TARP pork bailout beneficiaries; McCain voted for their pork bailouts.

Interesting fundraising letter coming from the McCain campaign begging for money for more TV and radio ads. The theme of the letter is that he has fought against "pork-barrel spending," "wasteful earmarks" and "sky-high deficits." Oh really? What about the billion dollar TARP pork bailouts he voted for? Some of them appear to be quid pro quo, because many of the companies that contibuted hundreds of thousands of dollars to his campaign were recipients of the billion dollar pork bailouts! 

Goldman Sachs, now under investigation in a lawsuit by the Securities and Exchange Commission for securities fraud, was the fourth highest contributor to McCain's 2008 presidential campaign. In what appears to be a quid pro quo for contributing $230,095 to McCain's campaign, Goldman Sachs was generously rewarded with $10,000 in preferred stock purchased as part of the TARP bailout. 

The second highest McCain contributor, Citigroup, contributed $322,051 to McCain and coincidentally received a bailout of $45,000 in millions of preferred stock purchased. Morgan Stanley contributed $273,452 to McCain and received $10,000 in millions of preferred stock purchased. JPMorgan Chase contributed $228,107 to McCain and surprise! received $25,000 in millions of preferred stock purchased. Bank of America contributed $126,026 and received $45,000 in millions of preferred stock purchased. And those are only from the top 20 contributors, no doubt there are more corporations that contributed less which also benefited from the bailouts. 

If these the kinds of pork bailouts you would like to see your money continuing to go towards, please go ahead and contribute to McCain's radio and TV ads. Just realize you're not helping oppose pork bailouts, you're enabling him to continue voting for them. If, on the other hand, you'd rather support someone who has a 97% lifetime rating from the American Conservative Union, who opposed the TARP pork bailouts, then please contribute to the JD Hayworth for Senate campaign.

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