Wednesday, February 18, 2009

Texas Businessman Sought Influence in Corridors of Capitol

The Antigua Sun, controlled by Texas financier R. Allen Stanford, published this photo in a June 2008 article describing an encounter with then-Sen. Barack Obama after a Miami speech by the presidential candidate. A White House spokesman said, "This is one of hundreds of thousands of photos the president took at events during the campaign."

From The Wall Street Journal:

WASHINGTON -- Texas businessman R. Allen Stanford, whose multibillion-dollar investment empire was ordered seized Monday by a federal judge, has long enjoyed big influence in Washington thanks to a steady supply of campaign contributions, Caribbean trips for lawmakers and fees to lobbying firms.

Mr. Stanford and his affiliated companies have spent more than $5 million on lobbying fees since 2000, federal records show. The businessman and his top executives have also contributed at least $2 million to candidates, including key lawmakers, and additional thousands of dollars on jets and resorts.

Read more ....

My Comment: I thought McCain - Feingold would not make this possible. Sigh .... let's face it, the lobby industry is now too powerful .... and unless radical changes occur (which I doubt) .... lobbying and the corruption that it ferments will always be a part of Washington.

Update: Manhunt: Accused Financier Scammer Stanford Missing -- ABC News

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