Anti-Bailout Tea Party Congressmen Taking Money From Banks
Remember when Teapartiers were rallying against “government handouts” and bailing out the banks and then in 2010 they elected all those ahem, patriots to congress who were going to kick some ass?
Well lookie here. What a difference two years make:
Tea Party favorites such as Stephen Fincher of Tennessee were swept into Congress on a wave of anger over government-funded bailouts of banks.
Now those incumbents are collecting thousands of dollars for re-election campaigns from the same Wall Street firms whose excesses they criticized. They have taken no significant steps to curb them or prevent future taxpayer-financed rescues.
Republican freshmen have made clear their disdain for expanding government, and openly opposed a financial regulatory overhaul enacted by Democrats in 2010 before the newcomers arrived in Washington. Their ranks include ten Tea Party-backed freshmen on the House Financial Services Committee, part of a force that won election in a populist backlash to government spending that included emergency lending to major banks and bailout of firms including U.S. automakers.
The political action committees of those institutions have distributed $169,499 through March 31 to the campaign coffers of the ten freshman Tea Party-backed lawmakers on the House Financial Services Committee, according to an analysis of campaign finance disclosure records.
Fincher, a gospel musician from Frog Jump, Tennessee, has received $11,500 from the political action committees run by Bank of America, Goldman Sachs, JPMorgan Chase and Wells Fargo. Citigroup’s political action committee had not contributed to the lawmaker through the end of March.
Two other members of the committee not listed as members of the Tea Party Caucus yet who won election to the House with Tea Party support are Representatives Steve Stivers of Ohio and David Schweikert of Arizona. Both ran ads attacking bailouts.