Wednesday, July 1, 2009
Politics / Woods Corker Takes Big Money from Banks He's Regulating
Posted by Jeff Woods on Wed, Jul 1, 2009 at 11:14 AM
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Here's a report from Public Radio International pointing out that senators are getting millions of dollars from the financial firms they're in charge of regulating. PRI reports:
Twelve of the Senate's top recipients of banking and insurance donations work on the Banking Committee, according to the Center for Responsive Politics, a D.C. based government watchdog. That's the same committee charged with writing the new rules. Last year when Congress turned its attention toward the financial industry companies doubled campaign donations to lawmakers.Our very own Sen. Bob Corker is right there raking in the cash. Corker isn't up for reelection until 2012, but finance companies gave him $500,000 during the last election cycle.
But oh no, Corker say, the industries aren't buying his ear. That's a ridiculous idea. Ha ha! Of course not.
"I know it's hard for people to believe -- I have no idea how much I have received from various entities. And you know these are huge races -- my race in particular was a $25 million race, and I know that people think that somehow or another has an affect, but it just doesn't."
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