Rahm Emanuel: One of the Biggest Recipients of Wall Street Money in Congress

November 7th, 2008

Lobbying by the financial industry before and during the financial crisis has come under criticism from consumer groups, members of Congress and President-elect Barack Obama.

“It’s ridiculous that the perpetrators of this mess should be the people dictating to Congress how to get out of it,” says Kathleen Day of the non-profit Center for Responsible Lending.

—What Bailed-Out Banks Spend on Lobbying

Change.

Via: CNS News:

President-elect Barack Obama’s choice for White House chief of staff is one of the biggest recipients of Wall Street money in Congress, according to a Washington, D.C.-based “money-in-politics” watchdog group.

The Center for Responsive Politics has issued a report highlighting millions of dollars in campaign contributions that Rep. Rahm Emanuel (D-Ill.) has raised from individuals working in the hedge fund industry, private equity firms, and large investment firms.

Emanuel has raised more money from individuals and political action committees in securities and investment businesses than from any other industry.

This comes after a presidential campaign that saw Obama frequently criticize Wall Street and blamed lack of government regulations for the economic crisis that hit the country in mid-September.

Emanuel, a former Clinton White House aide, is chairman of the Democratic Congressional Campaign Committee and received much of the credit for the Democrats winning a majority in the House of Representatives in 2006 – the first time in 12 years.

For his own 2006 re-election campaign, where he faced no serious opposition, Emanuel raised $1.5 million from the investment industry. His other sources of contributions came from lawyers, who gave $682,900, while people working in the entertainment industries gave $376,100.

Posted in Dictatorship, Economy, Elite | Top Of Page

2 Responses to “Rahm Emanuel: One of the Biggest Recipients of Wall Street Money in Congress”

  1. John Doh says:
    November 7, 2008 at 11:14 pm

    Too bad Rahmbo didn’t take one for the TEAM
    during his stint in the IDF
    (easy to see where his allegiances lie).
    Impact guns ad’s?
    Do you get money if I buy Kev?
    I am 2k rounds short.

  2. tochigi says:
    November 8, 2008 at 3:01 am

    Rahm Emanuel: Worst of the worst.

    http://www.counterpunch.org/cockburn11072008.html
    http://www.counterpunch.org/whitbeck11072008.html

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