Tea Partiers Who Opposed Bank Bailout Take Campaign Donations From Bailed-Out Banks - Travis Waldron

Tea Party-backed candidates swept into Washington in 2010 on a wave of opposition to bank bailouts. Now that they’re in Washington, however, their campaigns are drowning in campaign cash provided by the very banks that benefited from the Troubled Asset Relief Program.

The 10 freshmen Republicans on the House Financial Services Committee who have Tea Party backing have taken more than $100,000 from the political action committees affiliated with JPMorgan Chase, Bank of America, Citigroup, Wells Fargo, and Goldman Sachs — the nation’s five largest banks.

The Tea Party hasn’t succeeded in ending “too big too fail” because they haven’t tried. Though the five biggest banks are now bigger than they were before the financial crisis, the Tea Party members haven’t proposed a single piece of legislation to limit their size. Instead, they’ve focused on repealing financial reform and blocking efforts to protect consumers from Wall Street’s predatory practices.

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