New details emerge in ethics probe of fundraising, vote on Wall Street bill – old details stay hidden

September 2, 2010 07:18

Three house members are still subject to ethics investigation over fund raising during the  financial reform bill. Dodd and Feingold, the two main culprits in the senate seem to have escaped notice.

Joseph Crowley (D-N.Y.) who has received $765,000 from wall street contributors was one of three legislators notified by the House ethics committee that it would ‘further review their fundraising activities surrounding the Dec. 11, 2009, vote on the financial services measure’ according to an article at The

According to an article in the New York Times Rep. Crowley ‘left the Capitol during the House debate to attend a fund-raising event for him hosted by a lobbyist at her nearby Capitol Hill town house that featured financial firms, along with other donors. After collecting thousands of dollars in checks, Mr. Crowley returned to the floor of the House just in time to vote against a series of amendments that would have imposed tougher restrictions on Wall Street.’

The other two were Republicans Tom Price (R-Ga.) who has received $116,733 and John Campbell (R-Calif.) who has received $191,280.

No mention was made in either article about the shading dealings and wall street contributions going to Wisconsin Senator Russ Feingold (D) and Chris Dodd (D-VT) one of the bill’s authors.

According to an article in in July 2010 just after the financial reform bill passed the senate:

‘Contributions from the finance, insurance and real estate sector account for just 3.75 percent of Feingold’s overall contributions over his career, according to research by the Center for Responsive Politics. Just two other senators elected to their seats have relied less on money from the financial sector: a wealthy self-funder and the Senate’s only self-identified socialist.

Regarding Senator Dodd the same article quoted again:

‘Contributions from the financial sector account for roughly 30 percent of all money collected by the campaign committee and leadership PAC of Senate Banking Committee Chairman Chris Dodd (D-Conn.), the bill’s chief sponsor in the Senate, the Center found — the most among all senators. Dodd’s home state of Connecticut is also home to many financial industry companies and workers.

On average, 12 percent of all campaign contributions and donations to leadership PACs since 1989 have come from the finance, insurance and real estate sector for senators who supported the Wall Street reform legislation, the Center found.’

The article also points out how a firm that pays Dodd’s wife $153,000 salary will greatly benefit from the Dodd bill. How convenient.

– Editor

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