Posted on 09/21/2008 5:35:45 PM PDT by Born Conservative
U.S. Rep. Paul E. Kanjorski, D-Nanticoke, has received $96,000 in campaign donations from mortgage buyers Fannie Mae and Freddie Mac since 1989 – ranking him seventh among all members of Congress who received donations from the two firms.
The rankings were compiled by Capital Eye, a division of OpenSecrets.org, which describes itself as nonpartisan, independent and nonprofit, and “the nation’s premier research group tracking money in U.S. politics and its effect on elections and public policy.”
The U.S. government recently took control of the two government-sponsored enterprises that have donated $4.8 million to current members of Congress – 57 percent of the recipients being Democrats.
Kanjorski is ranked behind three Republicans and three Democrats in donations received – including Sen. Barack Obama, the Democratic nominee for president. Obama received $126,349 to place him second on the list behind Sen. Chris Dodd of Connecticut, chairman of the Senate Banking Committee, at $165,400.
Kanjorski is the highest-ranked local legislator, and received more than New York Sen. Hillary Clinton, who received $76,050 to place her 12th. Clinton has been in office only since 2000, while Kanjorski was first elected in 1984.
Sen. John McCain, the Republican presidential nominee, received $21,550. Sen. Joe Biden, Obama’s vice presidential running mate, received $3,300.
Pennsylvania Sen. Bob Casey (D-Scranton) received $7,000; Sen. Arlen Specter (R-Philadelphia), $1,100; and U.S. Rep. Chris Carney (D-Dimock Township), $250.
Lou Barletta, Republican challenger in the 11th District, attacked Kanjorski for accepting the donations.
“Paul Kanjorski is chairman of the House Financial Services Subcommittee on Capital Markets, Insurance and Government-Sponsored Enterprises,” Barletta said in a prepared release. “Housing lenders Freddie Mac and Fannie Mae are government-sponsored enterprises – and therefore directly under Kanjorski’s supervision. Kanjorski is tasked with the congressional oversight of the mortgage, banking and insurance industries. But Kanjorski has taken campaign contributions from the sub prime mortgage, banking and insurance industries – all areas he is supposed to regulate – since 1989.”
Barletta said the current financial woes have happened “under Kanjorski’s watch.”
“What did he do to stop it?,” Barletta asked. “Nothing; in fact, he kept taking their campaign contributions.”
Adam Benson, spokesman for Kanjorski, issued a statement from the 24-year Congressman.
“Lou Barletta is trying to turn one of the most serious financial crises of our time into a political game,” Kanjorski said. “I want to focus on the matters at hand, but I must briefly respond to the malicious smears to my record.”
Kanjorski said in 2005 he introduced H.R. 1295, the Responsible Lending Act, which could have prevented many of the predatory lending problems that led to the current housing crisis. He said the bill would have modified underwriting practices, enhanced housing counseling services, improved appraisal oversight, bettered mortgage servicing, and established a system for licensing and overseeing mortgage brokers.
“We had competing bills and sought over several months to negotiate a bipartisan compromise on these matters, but the House Republican leadership squelched these efforts before we could ever get a bill out of our Committee,” Kanjorski said. “These Republican leaders at the time included Tom DeLay. That’s the same Tom DeLay who has given $5,000 to Lou Barletta’s campaign.”
Open Secrets is a good source — they play it right down the middle when it comes to donations. Use them a lot to get the facts. Much easier then tracking down reports at the FEC.
Pressure should be brought upon all these people to return the money.
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