Friday, May 29, 2015

Bailout Backer Giuliani to Endorse Bailout Scourge Toomey

Former NY Mayor Rudy Giuliani, endorsing Republican Senate candidate Pat Toomey today in Montgomery County, positioned his law firm to profit from the government's bailout program; Toomey has made his opposition to Wall Street bailouts a cornerstone of his campaign.

Bailout Backer Giuliani to Endorse Bailout Scourge Toomey

Is this going to be awkard?

Former New York Mayor Rudy Giuliani is endorsing Republican Pat Toomey in Pennsylvania's U.S. Senate race Friday afternoon, a good "get."

But Toomey, a fiscally conservative former congressman from the Lehigh Valley, has made his opposition to the U.S. bailout of financial institutions a major theme in his campaign against Democratic Rep. Joe Sestak, who voted for the Trouble Assets Relief Program and the taxpayer-funded rescues of GM and Chrysler.

And Giuliani defended the financial industry bailout as absolutely essential - and then positioned his law firm, Bracewell & Giuliani, to profit from the program, helping corporate clients get a slice.

Note that Sestak has accepted help from people who contradict him on policy, notably former President Clinton, who signed and supported the Wall Street deregulation bills that the Democratic candidate rips Toomey for backing.



About this blog

Commonwealth Confidential gives you regularly updated coverage of the state legislature, the governor and the workings of the state bureaucracy. It is written by Angela Couloumbis in the Inquirer's Harrisburg bureau, based in the statehouse, and by the newspaper's far-flung campaign reporters.

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