Wisconsin Senate Candidate Buys Bank, Runs As Friend Of Wall Street
Already the 2012 elections are shaping up to provide voters a stark contrast in choices, and nowhere is that more apparent than in Wisconsin and the Senate race that has hedge fund manager Eric Hovde (R) running against Rep. Tammy Baldwin (D) for the seat vacated by retiring Sen. Herb Kohl (D).
Take the issue of the bank bailout. When Congress was considering the Troubled Assets Relief Program (TARP) Hovde slammed the program and called for an investigation into the “massive wealth transfer” from taxpayers to investment banking firms like Goldman Sachs.
Apparently Hovde had a change of heart on TARP. As reported by ThinkProgress, Hovde’s company invested in at least 33 banks that received $188 billion in TARP money. In fact, the deal was so good Hovde went all in and bought a bank that accepted $9.1 million in TARP funds in February 2009.
Baldwin’s supporters think someone who slams government assistance with one hand then turns the other out to willingly accept the money might not be the best choice for Wisconsin’s struggling middle class. Baldwin, who has long been an advocate for tax fairness couldn’t represent a starker contrast for Wisconsin voters, most of whom are more concerned about making monthly mortgage payments than whether or not they can buy a bank this month like Hovde.
Photo from http2007 via flickr.