TARP Recipient Contributes Thousands Of Dollars To Castle Campaign

 In a previous posting under the title,

“Did Mike Castle Help Funnel Money To Foreign Banks?”  


  I asked the question whether, due to Mike Castle voting for TARP, had he  helped funnel money to overseas banks?  I asked the question because of a Congressional Oversight Panel Report, that showed, that tens of billions of U.S. taxpayer dollars had been funneled from the TARP bailout funds to foreign banks such as the French bank, Societe Generale which received $11.9 billion, and the German bank, Deutsche Bank received $11.8 billion.  With billions more going to other banks around the world.

  The TARP funds ended up overseas after being handed out to AIG, the money then flowed overseas to banks that had invested in AIG. AIG received $182 billion dollars in TARP funds, with tens of billions of tax payer dollars going to bail out banks in foreign countries. And all the while, here in the United States, things worsened.

  The Oversight Panel’s report also stated that there didn’t seem to be any data about where the money would be going. So Mike Castle voted for a bill without knowing where  billions of dollars would end up. 

  A fact that many voters may not be aware of,  is that over the years AIG has contributed thousands of dollars to Mike Castle’s political campaigns. Since  1992 to present, Mike castle has received  $29,350 , from individuals and PAC money associated with AIG. In 1998 and 2002 alone he received $21,400.

 Like so much in Mr. Castle’s history as an elected official this is not illegal, but it raises some questions about what constitutes a conflict of interest?

  Are we as voters to ignore the fact that our Representative in Washington voted for a bill, that an oversight panel tells us, had no data about how the money would be spent, allowing U.S. taxpayer dollars to end up overseas to bailout foreign banks. Are we also to ignore the long history Mr. castle has of receiving campaign contributions from the banking industry and bankruptcy law sector, all  while he is a ranking member of the House Financial Services Committee?

  When you look at AIG’s history of donating, they do contribute to both parties, though they tend to lean a little to the left donating slightly more to the Democrats.

  A couple of notables are V.P. Joe Biden who has received over the years $42,350, $20,975 of it in the 2008 election cycle alone. Also President Obama has received $149,003 in just two election cycles. First in 2004 he received $6,000 and in the 2008 election cycle Pres. Obama received $143,003.

  This puts Mr. Castle in his usual company, with the Democrats.

  Some will say that this is just another case of  Frank Knotts going after Mike Castle. Well folks, there is an old saying, “usually ,where there is smoke there is fire”. So while I am spending a lot of time looking through FEC reports and voting data bases, I am only brining to light that which is already there. It is up to the voters to decide on sept 14th if it is more of this fuzzy,quasi legal maneuvering, that has allowed Mr. Castle to procure millions of dollars in donations from the very banks and law firms that he has oversight of on the House Financial Services Committee.

 Do we want to continue to elect a man who it would seem, spends more time raising campaign funds, than he does reading the bills he votes for.


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