Mad Rush in D.C. to Give Back Stanford's Money ... Except Cornyn & Sessions
You could have predicted this, but members of Congress are now jostling to see how quickly they can donate political contributions from fugitive financier Allen Stanford -- accused of an $8 billion fraud by the SEC -- to charity.
Sen. John McCain (R-AZ) got the ball rolling yesterday, vowing to get rid of his $28,150 in Stanford donations, and The Hill reports this morning that President Obama will follow suit for the $4,600 Stanford gave him during the campaign. Rep. Charles Rangel (D-NY) is also donating his Stanford contributions to charity.
But guess who's hanging on to the cash? Sen. John Cornyn (R-TX), who took slightly less than $20,000 from Stanford, and Rep. Pete Sessions (R-TX), who received about $41,000, according to local media reports.
Cornyn "believes in the presumption of innocence," his office told the local Texas TV station that inquired about Stanford. I guess that means Cornyn's also not giving back the $50,000 Stanford gave to underwrite the Texas State Society's Black Tie and Boots inaugural ball last month, when the GOP senator chaired the society.
Stanford Financial Group, the alleged fraudster's Texas company, was a "Lone Star Partner" for the ball, giving Stanford and his fellow executives access to "special ... VIP areas" during the party, according to a copy of the invitation. (Special thanks to reader B. for the tip.)
Josh
Elana
Matt
Eric
From this one fat cat donor, McCain received $28,150. Cornyn received $20,000. Sessions got $41,000.
President Obama? $4,600.
The numbers tell the story of the 2008 Presidential campaign.
February 19, 2009 9:39 AM | Reply | Permalink
If this guy turns out to be as bad as it looks, defrauding investors, laundering cartel cash, etc., it could get pretty bad for Cornyn.
Just wait until the photos from the GOP Antigua "fact finding" trip start surfacing!
February 19, 2009 9:54 AM | Reply | Permalink
He's not the only one. Take a look at the list, quite a bipartisan bunch:
The top 10 list of members of the 111th Congress who received contributions from the PAC and/or employees of the Stanford Financial Group since 1989 (includes contributions to both candidate committees and leadership PACs): Sen. Bill Nelson (D-Fla.) $45,900 Rep. Pete Sessions (R-Texas) $41,375 Sen. John McCain (R-Ariz.) $28,150 Sen. Chris Dodd (D-Conn.) $27,500 Sen. John Cornyn (R-Texas) $19,700 Sen. Charles E. Schumer (D-N.Y.) $17,000 Rep. Charlie A. Gonzalez (D-Texas) $15,500 Rep. Gregory W. Meeks (D-N.Y.) $15,100 Rep. Pete Olson (R-Texas) $14,500 Sen. Richard C. Shelby (R-Ala.) $14,000 Source: Center for Responsive Politics
February 19, 2009 9:58 AM | Reply | Permalink
Looks like Stanford is an equal opportunity smoozer. How egalitarian!
February 19, 2009 10:26 AM | Reply | Permalink
Why stop at the Top 10?
February 19, 2009 12:41 PM | Reply | Permalink
In my opinion, Texas Republicans are the most corrupt people in the country.
February 19, 2009 10:19 AM | Reply | Permalink
Hey, as a proud Illinois Democrat I resemble that remark!
February 19, 2009 12:16 PM | Reply | Permalink
How, I repeat, H O W does someone give 40 grand to a politician? Or 20 grand?
Seriously, I know they made some loopholes for inauguration funds and for whole-party aparati, but HOW did one person manage to give EACH of these pols SO MUCH MONEY, without breaking FEC regs?
I'M SO CONFUSED! Is there a floating decimal point for billionaires written into the FEC laws?
February 19, 2009 11:42 AM | Reply | Permalink
I was disheartened when the money from Abramson was so quickly given to charities.. When I was a kid, I was taught that stolen or ill gained money or gifts given to me were to be returned to its owners... in the case of Abramson, folks were swindled and the justice department should have received it so the swindled could have a chance of getting it back.
What WAS done, however, is Bush and others just forewarded it to some nonprofits to buy more votes! Fortunately, a couple of ethical groups would not accept it.
I see the same thing is happening here. The money has a likelyhood of being stolen. What do the mobsters in Washington do... make a political profit by passing the stolen goods on to others, allowing them to participate in the crime.
Of course, these same folk will be passing tough laws sending common people to prison for doing the same deeds...
THROW THEM ALL OUT, folks... if you care one little bit about teaching your children values!
(I feel better now)
February 19, 2009 12:04 PM | Reply | Permalink
Finally, we've figured out how Guantanamo detainees can get fair trials. If they'd all just contribute money to Cornyn, he'd presume THEIR innocence too!
February 19, 2009 12:11 PM | Reply | Permalink
Hey, if they gave Cornyn money he would welcome their transfer to Texas after Gitmo closes and give them "special access to VIP areas" where they could have a photo op with his "Unidentified
Companion."
February 19, 2009 12:38 PM | Reply | Permalink
Cornyn's faith in the goodness of humanity is remarkable. I wonder how long Cornyn will defend a fugitive. I look forward to hearing him explain how he had a constitutional right to flee to a South American country with no extradition treaty. All that fact-finding, and no indication he has a clue.
February 19, 2009 2:48 PM | Reply | Permalink
Cornyn is a Texas-sized slimeball of the first order. Makes me want to take a shower just typing his name!
February 19, 2009 10:42 PM | Reply | Permalink