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Toomey a top recipient of Wall Street cash

Toomey a top recipient of Wall Street cash

For months, Democrats have tried to paint Republican Senate candidate Pat Toomey as Wall Street’s guy. If you measure that just by campaign cash, they’ve got a point.

New data from the Center for Responsive Politics indicates that Toomey was among one of the top recipients of contributions from Wall Street and financial industry interests between February and June. Of the 10 candidates in both parties who received the most from the financial sector, only four saw more money roll in than Toomey did.

The former banker and head of the Wall Street-backed Club for Growth raked in $728,000 during the period, the center reported. Only Senator Charles Schumer (D-NY), Senator Kirsten Gillibrand (D-NY), House Minority Whip Eric Cantor and GOP Senate candidate Rob Portman received more. Seven of the ten top recipients are Republicans.

The data was first reported by The Hill.

“We’re seeing a shift in support towards Republicans because the message of restoring accountability in Washington and serving as a check on the Democrats’ agenda of more spending and higher taxes is clearly resonating,” National Republican Senatorial Committee spokesman Brian Walsh told the newspaper.

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September 10, 2010 at 7:00 am

--pa2010.com Staff

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  1. Bruce Bailey

    Sep 10th, 2010

    Club for Growth=Club for Wall Street

    Toomey is nothing but a tool for the same guys who crashed the economy in 2008.

  2. GOPHAWK

    Sep 10th, 2010

    I believe in market competition, not a rigged oligopoly. And I believe those who failed should pay the price of failure and not someone else. Wall Street is an oligopoly not a competitive marketplace. The international money managers on Wall Street failed and someone else aid for their failure – the American taxpayers. Bloomberg news estimates that the US taxpayer is on the hook for up to 22 trillion dollars to Wall Street firms .. owned and operated by non-Americans for the most part. All Americans should be concerned when neither party can put forward a candidate not kow-towing to the foreign potentates of Wall Street. Sestak and Toomey are equally submissive to these international money managers.

  3. call me crazy

    Sep 10th, 2010

    Pat Toomey OPPOSED the Wall Street bailout. Joe Sestax voted FOR the Wall Stree bailout.
    Any questions? Even Dave Diano can break this one down. Toomey was endorsed by Sue Collins and Tom Ridge, according to the logic of whatever nitwit wrote this article for pa2010, Toomey is pro-abortion I guess. And since the Democrats took the majority, they overtook the Republicans in contributions from business. So are Democrats now owned by Big Business. Come on people. Look at the voting records.

  4. David Diano

    Sep 10th, 2010

    crazy-
    The far-right GOP always gets a few moderates like Ridge and Collins to endorse their candidates to provide cover.

    As far as Toomey’s opposition to the Wall Street bailout…. has that been fact-checked? In Sept 2008, no one was paying attention to Toomey and he wasn’t really out there making public policy statements.

    The businesses send money to the party they think will be in charge, and to candidates they can most influence.

    Of the 10 top recipients, Chuck Schumer got $1.52 million. Which is more than double what Toomey got. Second place was Ohio’s Rob Portman with $820,000. That is quite a gap.

    Contributions really need to be limited to a few hundred dollars.

  5. sick of it all

    Sep 10th, 2010

    The two NY Senators getting more form employees of Wall Street Firms than others is understandable…the firms live there and these people are the representatives. Curious thought that Toomey, Portman, et al. have lapped the field in getting contribs…wonder why and what they have promised to Wall Street?

  6. Questioning

    Sep 10th, 2010

    Murphy got more money from wall street then Fitzpatrick.

    Why do you guys think Republicans and “Toomey is nothing but a tool for the guys who crashed the economy in 2008″? You have no facts to back up your charges.

  7. David Diano

    Sep 10th, 2010

    Questioning-
    Toomey’s Club for Growth has been about preserving the wealth of the wealthy by having them, and BIG corporations, not pay their fair share of taxes.

    Toomey is against the kinds of regulations that are meant to keep these guys from gaming the system or defrauding small investors who don’t have the resources to have personal money managers looking out for them or inside information.

    Toomey and his ilk are unable to see the connection between the “nice” sounding “free market” and the “wild west” of chaos and snake-oil salesmen.

  8. GOPHWAK

    Sep 10th, 2010

    Mr. Diano, my esteemed opponent, President Obama has the same economic team (Geithner, Bernanke, etc,( as President Bush who had the same team as President Clinton. It is the Wall Street economic team. Unfortunately, the interests of global capital do not coincide with the interests of America. There was a time when we had a strong domestic manufacturing sector and a very different economic team made up of people with US interests at heart. Now, we don’t. Toomey and Sestak are the same on this key issue.

  9. bill healy

    Sep 10th, 2010

    LOL, Toomey opposed the bailout of Wall St., he wasn’t in the Congress, when President Bush, Hank Paulson, and John Bohner told us that if we didn’t pass their bailout bill and the TARP program that our banking system would collapse. Thank God Toomey wasn’t there.
    What if Toomey had been there though, he would have voted (supposedly) against the people who support him and that he worked hard for while he was in Congress, the Wall Street Banks and the very wealthy, so now toomey votes to allow the banking system to collapse and allows (supports) putting the US Auto industry into bankruptcy. Then what??? No more financial system left, no one to finance the bankruptcy of the Auto industry. What would Toomey’s plan be?? Maybe a barter economy.

  10. LeftiesLose

    Sep 11th, 2010

    Yawn. This year voters won’t be rushing to the polls to send a message to Wall Street. They’ll be sending a message to a painfully unpopular Obama as every poll suggests. Translation: Sestak loses.

  11. David Diano

    Sep 11th, 2010

    Bill-
    1) Did Toomey actually oppose the bailout, at the time? Or is he just pretending to have that position NOW because the bailout is unpopular?

    2) Toomey can make up anything he wants about how he would have voted at the time.
    Sestak does it all the time about votes that occurred in congress/senate before 2007.

    3) For the TARP bailout, there were 25 NAY votes in the Senate.
    15 R’s, 9 D’s and one Independent.

    Among those 9 D’s…. Senator Byron Dorgan (D-ND) who JUST endorsed Joe on Thursday and Russ Feingold.

    But, Bill, while you are right about the bailouts, and Joe’s votes, you are missing the larger political point that undercuts you:
    Why isn’t Joe putting into his own ads: “I voted for TARP bailouts.” and then explaining his vote?

    (ans: this election cycle, doing the right thing and making the right votes the past two years doesn’t help because the voters have been misled into believing those were all bad votes)

  12. [...] proving his lie.  Toomey pulled in three quarters of a million dollars from Wall Street.  Specifically, $728,000.  So explain to me how he’s not a Wall Street [...]

  13. bill healy

    Sep 12th, 2010

    Dave I think you like our republican friends in here look at the fringe right wing temper tantrum over Obams’s actions and equate it to some kind of groundswell that will lift the GOP from thier even lower than Democrats polling with the public. Not gonna happen, it looked good all summer while the voters were on vacation but now that they are starting to pay attention, expect the numbers to slowly shift, Joe’s gonna bury Toomey the same way he buried Spector, with his own words. Sestak by 8

  14. David Diano

    Sep 14th, 2010

    Bill-
    I don’t think Sestak’s going to weasel his way out of this. Toomey may be wrong on the issues, but he seems to sincerely believe the crap that he’s selling. Sestak comes off as a complete phony reciting talking points and trying to have it both ways when he gets caught on an issue. For example, he’s got an effectively 100% voting record with Pelosi, but now Joe’s running away from the Democratic party and “claiming” he’s a “pragmatic independent”. Well, Joe was certainly “pragmatic” about voting with the Dems to win his primary, but now that he’s had his cake, Toomey’s going to force him to eat it.

    Joe’s message is so weak, that he’s falling back to the “I was in the military, don’t question me” campaign. Been there. Done that. Hate the new t-shirts.

    You’ve made it clear that the campaign is counting upon massive turnout in Philly to overcome Joe’s losses in the rest of the state. Well, there isn’t going to be massive turnout in Philly, and Philly Dems will probably be below the state-average in turnout. The three congressional districts in Philly are shoo-ins for the Dems. Brady doesn’t even have an opponent. He’s not going to lift a finger (especially for Sestak), but will probably consolidate his resources for influencing the 2011 elections in Philly and a possible run for Mayor.

    What goes around comes around. Sestak’s looking to be the recipient of the same disinterest he expressed for everyone else.

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