Shameless: McConnell to Fundraise Alongside Banking Executive
Shameless: McConnell to Fundraise Alongside Banking Executive a Day After Voting Against Regulating Shadowy Markets on Wall Street
Why Stop Now, Mitch?: Fundraiser Follows Reports That McConnell Shook Down Hedge Fund Managers for Campaign Cash at Private Meeting on Wall Street
Washington, DC– Even as Republicans are reportedly backing away from attacking Wall Street reform, they’re still looking to big banks for marching orders. After getting caught cozying up to lobbyists in New York City, the GOP’s leaders are now bringing Wall Street to them. Tomorrow, Republican Minority Leader Mitch McConnell will be co-hosting a fundraiser in Washington, D.C. along with financial industry lobbyists – a day after he voted against bringing transparency to secret Wall Street bets. Another co-sponsor of the event, to benefit Sen. George Lemieux’s (R-FL) Protect America PAC, is Wendy Grubbs, the vice president for Government Affairs at Citigroup, a bank that refused to take any blame for their part in bringing down the economy and costing 8 million Americans their jobs. The big bankers have never been shy about using Republicans to prevent any accountability for their actions, but it’s events like this which help remind us. (see Americans United for Change’s latest ad: Bailout Bandits)
And the ties that bind get even tighter. McConnell’s latest Wall Street event comes to light the same day as reports show Goldman Sachs’, accused of fraud by the S.E.C., fundraising for 2010 has overwhelming favored Republicans.
Tom McMahon, Acting Executive Director, Americans United for Change: “With Citigroup spending $5.5 million on lobbying this year and having a major stake in the derivatives market, it’s no wonder they’d want to reach out to Senator Mitch McConnell who has been spreading lies about the pending bill that were conjured up from a Wall Street pollster. Of course, Cit isn’t alone as over 1,500 Wall Street lobbyists swarm the Hill this week to kill the legislation they know full well will hold big banks to account for laying waste to the economy. If, as their slogan says, Citi never sleeps, why are they jumping into bed with McConnell and his party? Because Citi, Goldman Sachs and the other big banks know it’s the GOP who will be working to kill Wall Street reform.”