We have been witnessing all the RAGE, OUTCRY, ANGER, being whipped up in a damn frenzy on the Hill. The Republicans and some concerned trolling Democrats have been running to the nearest microphone with their RAGE.
So, as in all bullshit frenzy, money is either the root of all evil or a tool, if used effectively to give these political gasbags a cup of STFU. Here we have these politicians so enraged, but taking bailout out money, the taxpayers money for their political coffers. Does this smell of utter bullshit?
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 Kappell, 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.")
Eric Cantor has been all over TV slamming the Obama Administration, in angst and awe over bailing these corporations out, just in utter OUTRAGE of AIG, but takes money from bailout institutions? Is the pot calling the kettle yet? Oh, and if you think Hoyer and Cantor are the ones just being called out? Don't worry; the list will soon roll out on all these hypocrites.
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