Manipulation - Mercedes-Benz Forum

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post #1 of 2 (permalink) Old 04-05-2009, 08:10 AM Thread Starter
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This is a local article written about my local politicians, but I expect it applies all over. There is but one way to end such manipulation of our federal government, and that is to confine it to the limits of our constitution. Note that it involves members of both parties. It is time to stop the blame game and fix the root cause.

Bailout Backers Get Gifts from Banks

Campaign donors aligned with banks that received federal bailout money contributed tens of thousands of dollars to area lawmakers, records show.

U.S. Sen. Saxby Chambliss, R-Ga., who received $113,198 from some of those donors, will continue to accept contributions from political action committees, said the senator’s spokeswoman, Ashley Nelson. The senator voted for the $700 billion Troubled Assets Relief Program to help distressed banks.

“The Supreme Court has ruled political contributions are a form of speech and protected by the Constitution,” she said.

However, Todd Womack, chief of staff for U.S. Sen. Bob Corker, R-Tenn., said the senator’s staff is looking at whether to accept contributions from bailout recipients in the future but has not made a decision. Sen. Corker also voted for TARP funding.

U.S. Sen. Johnny Isakson, R-Ga., said through a spokesman that he will “examine such funds closely before deciding whether or not to accept them.” The senator voted for the funding.

Congress voted in October to pass the TARP, which provided operating capital to banks and other companies by buying preferred stock in the businesses.

Lawmakers who voted for the bailout did so in the face of public outrage. In early October, a Rasmussen Reports poll found that 63 percent of voters nationwide thought the bailout would help Wall Street more than taxpayers.

Subsequent news of bonuses and other perks for executives spurred even more public displeasure.

“I have never seen anything like the opposition to this,” Sen. Corker told local business leaders days after voting for the measure.

U.S. Rep. Zach Wamp, R-Tenn., who is running for governor, said he believes congressional incumbents will be more cautious when it comes to contributions from bailout recipients.

“This is a new paradigm,” he said.

Entire article is here: Mobile Tennessee: Bailout backers got gifts from banks

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post #2 of 2 (permalink) Old 04-05-2009, 12:51 PM
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Maybe the best good that will come out of this entire mess will be that we revisit the Corporate Campaign Contribution system and dissolve it. Cut the PAC donations down to ZERO and limit personal donations to a reasonable sum that is fair for everyone [$500 per candidate per election cycle, as an example]. It would streamline the election process as 18 month campaigns would be out of the question and we would lose the back to back to back advertising blitz that occurs every two years. Media might whine but they would get over it. It would take elections back to grass roots.

Only negative to a system like that would be the incumbent would have a decided advantage over any challenger.

But something certainly needs to happen to clean up PACs and contributions.

I would think the Republicans might be more interested now that they got their ass handed to them by Democratic fundraising this last time around.


Being smart is knowing the difference, in a sticky situation between a well delivered anecdote and a well delivered antidote - bear.
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