Jul 15, 2010

Why does Congressman Portman Oppose Today’s Landmark Wall St. Reforms?

COLUMBUS – As the U.S. Senate passed landmark legislation to rein in reckless Wall Street abuses and protect consumers, Ohio Democratic Party Chairman Chris Redfern slammed Congressman Rob Portman for representing special interests instead of Ohioans and opposing efforts to hold Wall Street accountable. Citing a new Center for Responsive Politics report that reveals that Congressman Portman has taken more lobbyist donations for his campaign than any other Republican incumbent or candidate across the country, Chairman Redfern accused Portman of selling out Ohio middle class families for Wall Street and special interests who finance his campaign.

“Congressman Portman spent 20 years in Washington shipping Ohio jobs overseas and doing the bidding of special interests in Congress,” said Ohio Democratic Party Chairman Chris Redfern. “Is it any wonder that Congressman Portman opposes efforts to reform Wall Street, hold BP accountable for the oil spill and stand up to insurance companies who have denied coverage to sick Ohioans? It doesn’t take Sherlock Holmes to figure out who Rob Portman will stand up for in Washington.”

As the Stephen Koff of the Plain Dealer noted, “Portman makes K Street all-star list. Lobbyists really, really like him.” [Cleveland Plain Dealer, 7/14/10] Portman tops the list for Republicans with $223,849 accepted from lobbyists this cycle. U.S. Sens. Richard Burr (R-NC), John Thune (R-SD), Reps. Roy Blunt (R-MO), Eric Cantor (R-VA) fill out the top 5 for the GOP, yet trail Portman by thousands in donations. Congressman Portman is the only recipient in the top 12 who is not a current office-holder in Washington.

Congressman Portman launched his decades-long career in Washington as lobbyist before serving in Congress and as President George W. Bush’s trade representative and budget czar. He is the leading recipient of campaign funds from the insurance lobby. [Insurance News Net, 5/20/10] In addition, Congressman Portman has also taken more than $145,000 from Wall Street banks bailed out by Ohio taxpayers. He recently came under fire for being for the Wall Street Bailout before being against it. His “ever evolving” position incurred the wrath of conservative blogs, which cited Congressman Portman’s position on Wall Street as consistent with his 20 year record of having “malleable” principles in Washington.

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