Figures Reveal Corporate Cronyism At Work In Bailout Vote
Those who voted yes had receieved more handsome contributions
Wednesday, Oct 1, 2008
A public watchdog database has conducted some interesting research into representatives who voted yes to the bailout bill, shedding light as to who their loyalties truly lie with.
MAPLight.org, a site dedicated to illuminating the connection between campaign donations and legislative votes, concludes that the 205 Representatives who voted for the bill received more than twice as much money from the banking sector than those who voted against it.
MAPLight.org has found that, over the past five years, banks and securities firms gave an average of $231,877 in campaign contributions to each Representative voting in favor of the bailout, compared with an average of $150,982 to each Representative voting against the bailout–54 percent more money given to those who voted Yes.
The site, which makes money/vote connections transparent, to help citizens hold their legislators accountable, revealed that Democrats who voted yes received “an average of $212,700 each, about twice as much as those voting No, $107,993.” Republicans who voted yes “received an average of $273,181 each, 50% more than those voting No, $181,688.”
“Profit-driven companies wouldn’t be making campaign contributions if it didn’t buy them influence or access,” said Daniel Newman, MAPLight.org’s executive director. “Votes in Congress align with the river of money that flows through our political system.”
The true colors of your democratically elected members of Congress shine through once again.
Those who voted yes had receieved more handsome contributions
Wednesday, Oct 1, 2008
A public watchdog database has conducted some interesting research into representatives who voted yes to the bailout bill, shedding light as to who their loyalties truly lie with.
MAPLight.org, a site dedicated to illuminating the connection between campaign donations and legislative votes, concludes that the 205 Representatives who voted for the bill received more than twice as much money from the banking sector than those who voted against it.
MAPLight.org has found that, over the past five years, banks and securities firms gave an average of $231,877 in campaign contributions to each Representative voting in favor of the bailout, compared with an average of $150,982 to each Representative voting against the bailout–54 percent more money given to those who voted Yes.
The site, which makes money/vote connections transparent, to help citizens hold their legislators accountable, revealed that Democrats who voted yes received “an average of $212,700 each, about twice as much as those voting No, $107,993.” Republicans who voted yes “received an average of $273,181 each, 50% more than those voting No, $181,688.”
“Profit-driven companies wouldn’t be making campaign contributions if it didn’t buy them influence or access,” said Daniel Newman, MAPLight.org’s executive director. “Votes in Congress align with the river of money that flows through our political system.”
The true colors of your democratically elected members of Congress shine through once again.
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