Monday, August 12, 2013

Candy Barr Wholly-Owned Subsidiary of Wall Street

Yeah, Kentucky Sixth-Districters: Your congresscritter's seat on the House Financial Services Committee Means that he gets millions in sweet Wall Street cash to ass-fuck you right to the wall.

Eric Lipton, NYT, as posted at the Herald:

U.S. Rep. Andy Barr, a Republican lawmaker from Lexington with little experience in the intricacies of Wall Street, was among the lucky House freshmen to secure a seat on the powerful Financial Services Committee.
Now, half a year into his first term, he has emerged as a telling example of why Financial Services is sometimes called “the cash committee” — a place, critics say, where there are big incentives for freshmen to do special favors for the industry.

Barr, 40, a first-time elected official, has raised nearly as much money this year from political action committees run by major banks, credit unions and insurance companies as have longtime lawmakers like Speaker John A. Boehner and other party leaders.

The flood of financial industry cash — $150,000 in political action committee donations from it in just six months — is hardly an accident.

One afternoon in April, Barr hosted credit union lobbyists and executives in his House office just before a committee hearing, promising he would help them protect a federal tax break worth $500 million a year, the executives said. Then last month, he introduced legislation to eliminate a new federal mandate intended to prevent banks from issuing mortgages to customers who cannot afford to repay the debt — a measure pushed by bank lobbyists who had come to his office.
 We used to call it "bribery" and send people to prison for it.  Now, it's business as usual.

Former Sixth District DINO representative Ben Chandler used to rake in the same kind of money on the Agriculture Committee, but it wasn't enough to save him from the apathy of liberal Democrats who couldn't be bothered to leave their sofas to vote for a bought-and-paid-for repug lite.

Will Candy's three Democratic opponents make an issue of his corruption?

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