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Cantor Rakes In Wall Street Donations While Calling Occupy Protesters a "Mob"

Monday, 31 October 2011 11:25 By Pat Garofalo, ThinkProgress | Report

When the Occupy Wall Street demonstrations first gained some national prominence, House Majority Leader Eric Cantor (R-VA) derided the protesters as a “mob,” saying, “Believe it or not, some in this town have actually condoned the pitting of Americans against Americans.”

Cantor eventually softened his rhetoric, and even scheduled a talk about income inequality (that he proceeded to cancel when he realized that the public would be allowed to attend). But Cantor has plenty of reasons to bash the protests because, as Roll Call noted today, Cantor’s top contributor this year is Wall Street:

Cantor’s personal political action committee has collected close to $2 million so far this year, placing it well ahead of any other leadership PAC in the House or Senate. In all of his fundraising efforts, top executives at banks, hedge funds and securities and investment firms play a starring role. Securities and investment industry donors have given close to $350,000 to both Cantor’s campaign and his leadership PAC this year, making them his top source of donations, according to the Center for Responsive Politics.

But Cantor has raised millions more than that for a lucrative operation known as the Cantor Victory Fund 2012…Ten major donors, many of them top executives with finance industry firms, have given $50,000 or more this year to the Cantor Victory Fund, which has collected $2.4 million, according to the most recent public disclosures.

Cantor has pushed several policies near and dear to Wall Street’s heart, including protecting tax loopholes for hedge fund managers, while managing to come up with no ideas for addressing income inequality. In fact, he believes we should just depend on the wealthy to bring down inequality through the goodness of their hearts. And so far, Wall Street has certainly shown its appreciation for Cantor’s positions.

Pat Garofalo

Pat Garofalo is Economic Policy Editor for ThinkProgress.org and The Progress Report at American Progress.


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Cantor Rakes In Wall Street Donations While Calling Occupy Protesters a "Mob"

Monday, 31 October 2011 11:25 By Pat Garofalo, ThinkProgress | Report

When the Occupy Wall Street demonstrations first gained some national prominence, House Majority Leader Eric Cantor (R-VA) derided the protesters as a “mob,” saying, “Believe it or not, some in this town have actually condoned the pitting of Americans against Americans.”

Cantor eventually softened his rhetoric, and even scheduled a talk about income inequality (that he proceeded to cancel when he realized that the public would be allowed to attend). But Cantor has plenty of reasons to bash the protests because, as Roll Call noted today, Cantor’s top contributor this year is Wall Street:

Cantor’s personal political action committee has collected close to $2 million so far this year, placing it well ahead of any other leadership PAC in the House or Senate. In all of his fundraising efforts, top executives at banks, hedge funds and securities and investment firms play a starring role. Securities and investment industry donors have given close to $350,000 to both Cantor’s campaign and his leadership PAC this year, making them his top source of donations, according to the Center for Responsive Politics.

But Cantor has raised millions more than that for a lucrative operation known as the Cantor Victory Fund 2012…Ten major donors, many of them top executives with finance industry firms, have given $50,000 or more this year to the Cantor Victory Fund, which has collected $2.4 million, according to the most recent public disclosures.

Cantor has pushed several policies near and dear to Wall Street’s heart, including protecting tax loopholes for hedge fund managers, while managing to come up with no ideas for addressing income inequality. In fact, he believes we should just depend on the wealthy to bring down inequality through the goodness of their hearts. And so far, Wall Street has certainly shown its appreciation for Cantor’s positions.

Pat Garofalo

Pat Garofalo is Economic Policy Editor for ThinkProgress.org and The Progress Report at American Progress.


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