Dennis Moore Takes Money from Wachovia on the Same Day he Bailed Out Failing Financial Institutions

Press Release

Dennis Moore Takes Money from Wachovia on the Same Day he Bailed Out Failing Financial Institutions

Wachovia gets a great investment on their money as they fund Dennis Moore's campaign and in turn he funds the $700 billion bailout.

Dennis Moore recently took $2000 in campaign cash from the faltering financial institution, Wachovia, on the same day he voted for the $700 billion bailout. Moore continues a disturbing pattern of special favors to mismanaged financial companies and at the same time, he demonstrates how out-of-touch he is with struggling Kansas families and how connected he is with Washington insiders and lobbyists.

First, Moore and the House Financial Services Committee pushed Fannie Mae and Freddie Mac to increase toxic high risk loans, and then Moore co-authored, promoted, and voted for an amendment to gut regulation of Fannie Mae and Freddie Mac, showing his true colors and flawed philosophy toward these failed institutions. In the process, helping create the catalyst for the subprime mess.

Don't forget Moore also took over $30,000 from Fannie Mae and Freddie Mac - more than the entire Kansas Congressional Delegation combined and nearly $2 million from financial institutions altogether.

Second, the recent developments that Moore took nearly $34,000 from those who stood to benefit from the bailout on the day he voted in support of it, including $2000 from Wachovia, leaves the average Kansan perplexed. How could their Congressman be acting in such a manner in the midst of an economic crisis? Dennis Moore has consistently turned a deaf ear to his constituents. Kansans were against the bailout in overwhelming numbers and none of the other members of Congress from Kansas voted for it.

Source