"In 2007, Bachus made trades with a number of short term stock options, betting that stocks would rise or fall for a quick profit or loss. Bachus made up to $160,000, including a bet in March that the stock market would drop that earned him between $15,000 and $50,000. Most members of Congress hold some stocks or mutual funds, but Bachus' rapid-fire trades are unusual for a leading member of Congress, particularly one with the key role of ranking member of the House Committee on Financial Services."
Tuesday, June 7, 2011
KANSAS' KEVIN YODER & THE GRAVEY TRAIN
Third District Freshman, Kevin Yoder, has earned a dubious distinction in D.C. A collaborative reporting effort by OpenSecrets.org and The Fiscal Times lists Yoder as being in the top ten of House GOP freshmen who raised the largest share of PAC money throughout the 2010 election cycle. Yoder came in eighth place. He hauled in $448,525 from PACs. The full report is on the OpenSecrets Blog at: http://www.opensecrets.org/news/2011/04/congressional-freshmen-saddled-with.html.
Yoder's been no slouch pacing his D.C. fundraising efforts through his first year in office. According to the Sunlight Foundation's Political Party Time Yoder has held four events. On March 8th Yoder shared the limelight, but not the loot, with Illinois Republican Robert Dold and Arizona Republican Ben Quayle, son of former Vice President Dan Quayle.
Actually there was no limelight. The dinner was held at a private residence within walking distance just northeast of the Capitol and a stone's throw from D.C.'s Stanton Park. It is a typical Washington row house, built in 1910. It has 6 bedrooms with 4½ baths. That's good because you wouldn't want D.C. fat cats waiting in line at the john at this cozy soiree.
On April Fool's day Yoder wasn't pulling any pranks. He took his "give me the money" campaign to another private residence. This time he went just southeast from the Capitol to 412 First Street Southeast, a 3 bedroom 3 bath townhome.
May 12th Kevin Yoder took another stroll to pick up money. The Fluor Corporation has a really nice townhouse at 403 East Capitol Street Southeast. Just east of the Capitol this three story townhouse was built in 1850, has 7 bedrooms, and 5½ baths. This dinner was hosted by Procter & Gamble, which has a sizeable plant at 1900 Kansas Avenue in K.C.
Other hosts include John Simmons and Donna Stephens. Simmons is a lobbyist at the law firm of Akin, Gump, Strauss, Hauer, & Feld, LLP. The Fluor Corporation is represented by Akin, Gump, et al. Simmons is a former staffer for New York Republican Representative James T. Walsh. Walsh retired at the end of the 110th Congress. Donna Stephens is a lobbyist for the Bayer Corporation which has two facilities in Yoder's district, an animal healthcare plant at 12707 Shawnee Mission Parkway in Shawnee Mission and a crop science facility at 17745 Metcalf Avenue in Stilwell.
Yoder emerged from his residential fundraising tour on May 25th going to the Republican's home base, the Capitol Hill Club. This luncheon featured Alabama's Republican Representative Spencer Bachus. Bachus voted for the Gramm-Leach-Bliley Act which Nobel laureate Joseph Stiglitz, believe helped create the 2007 financial crisis. Bachus was also playing the market in 2007. Wikipedia reports at http://en.wikipedia.org/wiki/Spencer_Bachus, that:
That's some "Special Guest" Yoder has in Spencer Bachus. The going rate for the privilege of attending the events is $2,000 for a PAC Host; $1,000 for a Personal Host; $1,000 for a PAC lobbyist to attend; and $500 for person to attend.