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PITTS’ WORST VOTES: BIG BUCKS FOR BAILED-OUT BANKERS

PITTS’ WORST VOTES:  BIG BUCKS FOR BAILED-OUT BANKERS
 
When you’ve taken enough money from Wall Street lobbyists, it’s kind of hard to cut their bosses’ pay.  That was the message as the Herr 2010 campaign came across this Joe Pitts baddie:
 
Vote Number 30:  H.R. 1664 — Amend Executive Compensation Provisions of the Emergency Economic Stabilization Act of 2008
 
The Emergency Economic Stabilization Act shown above sought to prevent a total collapse of America’s banking system by creating the Troubled Asset Relief Program to buy up the worst loans on the books of endangered banks.  It became known as the Bank Bailout, and in time achieved its goals, and has become unpopular with many people.
 
It soon became evident that banks which had taken bailouts were continuing to pay their executives multi-millions as if nothing were amiss.  This bill sought to rein in those abuses by prohibiting unreasonable and excessive compensation not based on performance standards.  On April 1, 2009, the House voted on this bill, and guess who decided that it was too tough on those under-appreciated bankers?
 
Pitts votes NO.
 
The bill passed the House 247-171. But Joe’s lobbyist chums knew it wasn’t because of him.
 
Rep. Pitts pretends to be careful with tax dollars, unless they’re being shovelled into the pockets of his pals.  Twenty-nine Bad Pitts Votes to go, one each day.

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