Feeney and the Financial Crisis: Pay-to-Play Politics Results in Economic Turmoil

New Smyrna Beach, FL - As the country's economic crisis worsens and Florida's families become increasingly concerned about their own economic security, Congressman Feeney continues to put his misplaced partisan priorities above the best interests of Central Floridians.  More importantly, Tom Feeney's special interest driven decisions in Congress actually helped create the current meltdown on Wall Street and main streets across the country. 

This morning the Washington Times reported that "Key House members weighing a $700 billion Wall Street bailout have filled their campaign coffers this year at more than 250 fundraising parties hosted by financial-sector lobbyists," including "a 'beer tasting' fundraiser for one committee member, Rep. Tom Feeney, Florida Republican, was held July 30 and hosted by several lobbyists, including one for Citigroup Management Corp." (Washington Times, September 25, 2008)

Feeney has collected over $1.2 million in campaign contributions from the financial industry throughout his tenure in Congress. While collecting these campaign contributions, Feeney has opposed fiscally responsible budgets and legislation to address the nation's housing crisis; experts claim record deficits and the abuse of subprime lending are factors that have largely contributed to our current economic turmoil.

"Tom Feeney's pay-to-play approach and partisan priorities have helped create our country's financial crisis," said Paul Dunn, Kosmas for Congress Campaign Manager.  "Rather than exercising responsible oversight to prevent our current economic woes, Feeney has sat on the sidelines collecting over a million dollars from the very industries his subcommittee is supposed to regulate.  Now the whole country is seeing the consequences of his actions."

Tom Feeney currently sits on the House Financial Services Committee's Subcommittee on Financial Institutions and Consumer Credit.  A full document noting Tom Feeney's failures that helped create the current economic crisis is attached.

"The people of Florida's 24th District deserve a Representative who shares their priorities instead of one who looks only looks out for his partisan priorities and special interest buddies," he added.