Is Taxpayer Money Being Funneled Through The Chamber Of Commerce To Kill Health Reform?
from ThinkProgress
The U.S. Chamber of Commerce, an umbrella lobbying organization for international corporations and big business, is one of the driving forces fighting to kill health reform. In 2009, the Chamber dropped $123 million in lobbying, much of it against health reform, and organized an attack ad campaign against health reform, spending another $100 million. Now, as health reform enters its final stages, the Chamber is gearing up to blanket critical districts across the country with a new series of attack ads.
While the Chamber refuses to publicly list its membership, several confirmed Chamber members are banks which were bailed out by taxpayers and still have not repaid the TARP funds. For instance, New York Private Bank & Trust received TARP funds and still owes $254,892,509 back to the government. Diana Cantor, the bank’s managing director, is a board member of the Chamber Foundation and wife of Minority Whip Eric Cantor (R-VA), two leading opponents of reform. How can taxpayers be reassured that Cantor’s bank, and other bailed out Chamber banks, are not using taxpayer dollars to fund the Chamber’s anti-reform activities? Here are the bailed out banks we know are funding the Chamber and have not paid back TARP:
– Citigroup, a member of the U.S. Chamber of Commerce, received bailout money. Citigroup still owes taxpayers over $22 billion in TARP funds.
– Marshall & Ilsley Bank, a member of the U.S. Chamber of Commerce, received bailout money. M&I Bank still owes taxpayers over $1.6 billion in TARP funds.
– New York Private Bank & Trust, a member of the U.S. Chamber of Commerce, received bailout money. Diana Cantor, the bank’s managing director, sits on the Chamber Foundation’s board. New York Private Bank & Trust still owes taxpayers over $250 million in TARP funds.
(Continued here.)
The U.S. Chamber of Commerce, an umbrella lobbying organization for international corporations and big business, is one of the driving forces fighting to kill health reform. In 2009, the Chamber dropped $123 million in lobbying, much of it against health reform, and organized an attack ad campaign against health reform, spending another $100 million. Now, as health reform enters its final stages, the Chamber is gearing up to blanket critical districts across the country with a new series of attack ads.
While the Chamber refuses to publicly list its membership, several confirmed Chamber members are banks which were bailed out by taxpayers and still have not repaid the TARP funds. For instance, New York Private Bank & Trust received TARP funds and still owes $254,892,509 back to the government. Diana Cantor, the bank’s managing director, is a board member of the Chamber Foundation and wife of Minority Whip Eric Cantor (R-VA), two leading opponents of reform. How can taxpayers be reassured that Cantor’s bank, and other bailed out Chamber banks, are not using taxpayer dollars to fund the Chamber’s anti-reform activities? Here are the bailed out banks we know are funding the Chamber and have not paid back TARP:
– Citigroup, a member of the U.S. Chamber of Commerce, received bailout money. Citigroup still owes taxpayers over $22 billion in TARP funds.
– Marshall & Ilsley Bank, a member of the U.S. Chamber of Commerce, received bailout money. M&I Bank still owes taxpayers over $1.6 billion in TARP funds.
– New York Private Bank & Trust, a member of the U.S. Chamber of Commerce, received bailout money. Diana Cantor, the bank’s managing director, sits on the Chamber Foundation’s board. New York Private Bank & Trust still owes taxpayers over $250 million in TARP funds.
(Continued here.)
Powered by Blogger
1 Comments:
Tim Walz has introduced HR 4617, the Separate Taxpayer dollars from the Election Process Act, which will prohibit Wall Street banks and other corporate recipients of public bailout funds from using these tax dollars to influence the outcome of elections in the United States. It requires corporations receiving funds through the Troubled Asset Relief Program (commonly known as the bank bailout) to segregate the funds from other operating funds and prohibits the use of these funds for electioneering communication.
Walz wrote : “It was wrong that American taxpayers had to bail out Wall Street banks for their reckless behavior. It is outrageous these same Wall Street banks can now use your taxpayer money to run TV attacks ads attempting to elect or defeat candidates for public office. My bill is one of a multi-prong legislative approach now being debated in the halls of Congress about how to close these new corporate special interest loopholes and protect the public's interest over corporate special interests.”
Sounds like a good step until I read this piece which clearly tells how Walz’s legislation will just add another step to the process with TARP recipients funneling the monies to the Chamber of Commerce or some other advocacy group.
Post a Comment
<< Home