Logo
ISSUE #34.47 • NEWS •
[ECONOMY, POLITICS]

The Money Side of the Street


Some Oregon lawmakers took big bucks from Wall Street in flush times.

Recently in "News"

November 18th, 2009
Murmurs • Going Rogue Each Week4 comments

November 18th, 2009
Dr. Know2 comments

November 18th, 2009
Letters to the Editor • Inbox1 comment

November 18th, 2009
Cover Story • Randyland, Part II | WW examines whether Randy Leonard is using his power to benefit downtown’s largest private property owner.80 comments

November 18th, 2009
Rogue of the Week • Bureau Of Transportation | One more mouth to feed.5 comments

November 18th, 2009
The Back Of The Bus | Why TriMet is carrying Anti-Fred Meyer ads. 3 comments

November 18th, 2009
Chronic Debate | Where there’s smoke, there’s a dispute.0 comments

November 18th, 2009
Making It Rain | Oregon’s most litigious stripper is out to reform the industry.14 comments

November 18th, 2009
Fire Drilled | After the blaze at Marysville School, a retired inspector sounds the alarm.12 comments

November 18th, 2009
By The Numbers | Fare Trade0 comments


BY NIGEL JAQUISS | njaquiss at wweek dot com

[October 1st, 2008]

As Congress bats around a proposed $700 billion Wall Street bailout like a piñata, it’s helpful to remember that many of the lawmakers now competing to dump on Wall Street once opened their campaign coffers to take money from those same firms.

And thanks to a new analysis by the Center for Responsive Politics, voters can now see how much money each lawmaker has gotten from finance firms since 1990.

Congress’ biggest collector of cash from those firms over that period (other than lawmakers running for president) is Sen. Chuck Schumer (D-NY), with a total of more than $6.1 million or $342,882 per year, according to the Washington, D.C.-based watchdog center (opensecrets.org).

By comparison, Oregon’s two U.S. senators—both members of the Senate Finance Committee—collected more than a half-million apiece over that period (Republican Gordon Smith’s tenure dates back only to 1997, when he entered the Senate, while Democrat Ron Wyden’s goes back to 1990, when he joined the House).

There’s a wider range among Oregon’s five House reps, ranging from $200,000-plus for Democrats David Wu (a member of the House Education Committee dealing with student loans) and Darlene Hooley (a member of the House Budget Committee) to barely more than $10,000 for Democrat Peter DeFazio.














icon Story continues below

advertisement

advertisement

DeFazio (D-Springfield) joined Monday with Reps. Earl Blumenauer and Wu (both D-Portland) as part of the House majority voting against the $700 billion bailout. The Senate has yet to vote.

“We are ignoring the fundamental question about the size and scale of the financial services industry that is in trouble not just because of a lack of regulation, but because we had too many people pursuing unsustainable business practices,” Blumenauer said on the House floor before voting.

Voting yes were Hooley (D-West Linn), who is retiring, and Rep. Greg Walden (R-Hood River).

As Congress takes up Bailout Plan B, here’s a rundown of contributions each Oregon member of the delegation has collected from many of the same securities and investment firms and groups responsible for the current meltdown:
Click to see how lawmakers stack up


Rate This Story
5 average/3 votes

 
read all 3 comments | add your comment
 

RECENT COMMENTS ON “The Money Side of the Street”

1

test

Rob, Oct 1st, 2008 10:21am
2

This is another demonstration as to WHY PUBLIC FINANCING of campaigns IS VITAL to the SAFETY of this nation. Citizens do NOT realize how corporatists/fascists have BOUGHT the elections, candidates, of...

GC in Tigard, Oct 1st, 2008 8:55pm
3

Thank you for the money trail, Nigel. Following the money opens the door to connections in politics. This youtube tracks Obama's role in the housing bubble, who made money off the housing bubble and...

Kathleen, Oct 2nd, 2008 6:28am
 
 
 





Recently in Willamette Week
December 31st 1969Washington State | The Canada of Oregon has it all—a Stonehenge replica, a longboarder's concrete wet dream and dark, damp underground lava caves. Vive les rocks.
December 31st 1969Oregon's Outer Edges | Crater Lake. Hell's Canyon. Wallowa and Steens mountain ranges. Hell, yeah.
December 31st 1969Central Oregon/High Desert | No rain, plenty of snow, obsidian flows and great local beer. The folks from the real eastside know how to unbend outside.
December 31st 1969Great Cascades/Columbia Gorge | With plenty of room to roam—and hot springs for your weary feet—it's the place to ramble and relax for the weekend.
December 31st 1969Willamette Valley | Monks, tracks, tubing and wine make the fertile strip a virile place to play.
December 31st 1969Stumptown | Tons of public parks, an extinct volcano and nude beach volleyball to keep you jolly. Get out and collect those merit badges, without leaving the city.
December 31st 1969The Coast | The beaches are public. You own them. Go play—hike in the old-growth forests.
December 31st 1969Cycle Tour 101: Your on-bike guide to Highway 101 | To ride the greatest bike route in Oregon, you need to get out of Portland.
December 31st 1969Doggin' It | What happens when a Portland running club jogs with pooches from the pound?
December 31st 1969Over the Edge | Sam Drevo will paddle yr ass.