Finance Sector Gave 51 Percent More to House Bailout Backers -
Members of the House of Representatives who supported bailing out the financial sector with $700 billion in taxpayer money have received 51 percent more in campaign contributions from the finance, insurance and real estate sector in their congressional careers than those who opposed the emergency legislation, the nonpartisan Center for Responsive Politics calculated following the 228-205 vote on Monday that defeated the House bill.
WASHINGTON -- Members of the House of Representatives who supported bailing out the financial sector with $700 billion in taxpayer money have received 51 percent more in campaign contributions from the finance, insurance and real estate sector in their congressional careers than those who opposed the emergency legislation, the nonpartisan Center for Responsive Politics calculated following the 228-205 vote on Monday that defeated the House bill.
Examining campaign contributions from the industries that were most eager to see the Emergency Economic Stabilization Act of 2008 passed, the Center found that the gap between lawmakers who supported the bailout and those who successfully opposed it was especially wide among House Democrats.............................
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In this election cycle, Democrats backing Treasury Secretary Henry Paulson's proposal have collected 78 percent more from the finance, insurance and real estate (or FIRE) sector than those in their caucus who opposed it and, over time, 88 percent more. In dollar figures, the 140 Democrats who supported the bailout proposal have received $792,744 over their careers from the FIRE sector and $188,572 in this cycle, on average. The 95 Democrats who voted against the bill have received $420,686 over their careers and $105,878 in the 2007-2008 cycle. (CRP's campaign finance data goes back to the 1990 election cycle, or the calendar year 1989.)
