Feb 23, 2010

Portman's Deafening Silence: Wall Street Bonuses Skyrocket As Big Banks Line His Campaign Coffers

COLUMBUS – Just 16 months after Ohio taxpayers helped bail out Wall Street, reports today revealed that big banks increased bonuses by more than 15 percent from last year, to more than $20 billion. Meanwhile, Chief Architect of the Bush Recession Rob Portman continues to defend business as usual on Wall Street while Ohio small businesses and working families struggle during this global recession.

“While Ohio families struggle to make ends meet, Rob Portman has had no qualms lining his campaign coffers with funds from the same Wall Street firms that brought us this global recession,” Ohio Democratic Party Communications Director Seth Bringman said. “There should be no question where Portman’s loyalties lie--- with his Wall Street allies and not with Ohio’s middle class. His silence on outrageous Wall Street bonuses speaks volumes about who he would fight for in Washington. Ohio families and Main Street businesses that are still feeling the strain of the recession Portman helped engineer deserve better.”

Portman has raked in more than $160,000 from Wall Street and TARP bailout recipients. It’s no surprise that Portman continues to support the status quo—over two decades in Washington, Portman climbed the ladder as a lobbyist, ranking official in the Republican Congressional leadership, and architect of the devastating Bush trade and economic policies as US Trade Representative and Director of the Office of Management and Budget. Now he wants to return to Washington to take us back to the disastrous policies of the past.

• Portman Has Taken Over $160,000 from Wall Street Banks and TARP Recipients. According to campaign finance records, Portman has accepted $160,850 in campaign contributions from the PACs and employees of Goldman Sachs, Citigroup, J.P. Morgan Chase, UBS, AIG, Wells Fargo, Morgan Stanley, U.S. Bancorp, Capital One, Bank of New York Mellon and Wachovia. [FEC.gov; CQ Moneyline,]

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