Welcome to DU!
The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards.
Join the community:
Create a free account
Support DU (and get rid of ads!):
Become a Star Member
Latest Breaking News
General Discussion
The DU Lounge
All Forums
Issue Forums
Culture Forums
Alliance Forums
Region Forums
Support Forums
Help & Search
General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsJeb Bush's New Campaign Adviser: "One of the Most Infamous Lobbyists in the World"
The likely 2016 candidate enlists a DC fixer who assisted banks that screwed US taxpayers to the tune of $150 billion.
......... his involvement in TARP was "singularly obscene."
After announcing he was forming a presidential exploratory committee last month, former Republican Florida Governor Jeb Bush quickly began pulling together a political operation of strategists, consultants and donors. On Thursday, the Washington Post reported that DC insider Richard Hohlt, a Republican lobbyist, has become an informal member of the Jeb Bush campaign team. But the newspaper neglected to note that Hohlt is more than your average Washington influence-peddler.
Hohlt has been a key and somewhat infamous lobbyist for the financial industry, best known for assisting the corrupt savings-and-loan banking industry three decades ago in its battle with federal regulatorsat a profound cost to US taxpayers. And in 2009, following the Wall Street-driven economic demise, Citigroup enlisted him to assist its efforts in Washington.
Hohlt has worked the halls of the nation's capital for various corporate giants, including Chevron and Altria. But he is best known for assisting the S&L gang three decades ago. He kept regulators at bay on behalf of these thrifts, which were overextended and speculating with federally insured deposits. The ensuing S&L collapse, which happened during the Reagan and (first) Bush years, helped drive the US economy into the tank, launched a series of investigations, and yielded criminal convictions. As the New York Times reported six years ago, "Critics say that as a top lobbyist for the savings and loan industry in the 1980s, Mr. Hohlt blocked regulation of these institutions and played a pivotal role helping to prolong dubious industry practices that cost taxpayers $150 billion to clean up." (Incidentally, an S&L run by Jeb Bushs brother, Neil, went belly-up at a cost of $1 billion to taxpayers.)
Years later, Hohlt's S&L work didn't disqualify him from lobbying on financial matters. In 2009, he was hired by Citigroup to lobby the federal government regarding the Troubled Asset Relief Program (TARP), the big bank bailout that followed the 2008 economic implosion. The move stirred controversy. A former financial regulator called Hohlt "one of the most infamous lobbyists in the world" and said his involvement in TARP was "singularly obscene."
http://www.motherjones.com/politics/2015/01/jeb-bush-richard-hohlt-karl-roveHohlt has been a key and somewhat infamous lobbyist for the financial industry, best known for assisting the corrupt savings-and-loan banking industry three decades ago in its battle with federal regulatorsat a profound cost to US taxpayers. And in 2009, following the Wall Street-driven economic demise, Citigroup enlisted him to assist its efforts in Washington.
Hohlt has worked the halls of the nation's capital for various corporate giants, including Chevron and Altria. But he is best known for assisting the S&L gang three decades ago. He kept regulators at bay on behalf of these thrifts, which were overextended and speculating with federally insured deposits. The ensuing S&L collapse, which happened during the Reagan and (first) Bush years, helped drive the US economy into the tank, launched a series of investigations, and yielded criminal convictions. As the New York Times reported six years ago, "Critics say that as a top lobbyist for the savings and loan industry in the 1980s, Mr. Hohlt blocked regulation of these institutions and played a pivotal role helping to prolong dubious industry practices that cost taxpayers $150 billion to clean up." (Incidentally, an S&L run by Jeb Bushs brother, Neil, went belly-up at a cost of $1 billion to taxpayers.)
Years later, Hohlt's S&L work didn't disqualify him from lobbying on financial matters. In 2009, he was hired by Citigroup to lobby the federal government regarding the Troubled Asset Relief Program (TARP), the big bank bailout that followed the 2008 economic implosion. The move stirred controversy. A former financial regulator called Hohlt "one of the most infamous lobbyists in the world" and said his involvement in TARP was "singularly obscene."
InfoView thread info, including edit history
TrashPut this thread in your Trash Can (My DU » Trash Can)
BookmarkAdd this thread to your Bookmarks (My DU » Bookmarks)
4 replies, 775 views
ShareGet links to this post and/or share on social media
AlertAlert this post for a rule violation
PowersThere are no powers you can use on this post
EditCannot edit other people's posts
ReplyReply to this post
EditCannot edit other people's posts
Rec (3)
ReplyReply to this post
4 replies
= new reply since forum marked as read
Highlight:
NoneDon't highlight anything
5 newestHighlight 5 most recent replies
Jeb Bush's New Campaign Adviser: "One of the Most Infamous Lobbyists in the World" (Original Post)
dixiegrrrrl
Jan 2015
OP
Same here. The Bush Crime Family's DNA is born of a pit of vipers with devil horns.
misterhighwasted
Jan 2015
#4
niyad
(113,527 posts)1. does this surprise any of us?
I am glad that the article pointed out the failed s&l run by jebbie's brother--it alone cost us a fortune.
tblue
(16,350 posts)2. I am very afraid.
Seriously. Jeb is the stuff of nightmares.
misterhighwasted
(9,148 posts)4. Same here. The Bush Crime Family's DNA is born of a pit of vipers with devil horns.
Their rotten stench kills wherever it settles, & lingers forever.
n2doc
(47,953 posts)3. Citigroup, again....
They cover ALL the bases, don't they?