(Senator) Specter's 'reluctant' vote helped firm with ties to his wife

[sabra]

Source: PITT TRIBUNE-REVIEW

On Oct. 1, after a critical vote on a $700 billion financial industry bailout package, Sen. Arlen Specter issued a two-paragraph statement explaining why he "reluctantly" voted, along with 73 colleagues, for the measure.

Before the year was over, a Delaware-based bank holding company that counts the senator's wife as a nearly decade-long director got a $45.2 million infusion from the bill.

The financial firm was Bancorp Inc., with operations in Delaware and Pennsylvania. Joan Specter has been a director of the firm or its predecessors since 1999, according to company filings with the Securities and Exchange Commission.

Asked Tuesday for comment, Specter spokeswoman Kate Kelly issued a brief statement denying that the senator had any role in securing money for the financial institution.

"Arlen Specter did not lobby TARP (the Treasury Department) or anyone else on behalf of Bancorp. The Treasury Department made the awards based on its own criteria," she wrote in an e-mail.

Read more: http://www.pittsburghlive.com/x/pittsburghtrib/news/s_613465.html

[benld74]

1. It was reluctant because he had to make sure his wifes job was getting sumthin first

[Doctor_J]

2. Diaper Dave's vote for HIS wife's windfall wasn't reluctant

he voted proudly to award his jilted wife's bank a few billion.

[wisteria]

3. This is a trashy hateful Republican run newspaper.

They are out to get Specter in the upcoming Republican primaries and replace him with someone who fits a very conservative mold. You may not like Specter, but he is a moderate vote that Obama can use once in a while. I would suggest you watch what you wish for, the alternative could be much worse. PA already has one Democrat senator and Specter is well known and liked. It is highly unlikely that a Democrat would win his seat, but if the Republican's have their way, they will take him out in the primaries and offer a strong and well known Conservative replacement who will offer an alternative to the Democrat and will be viewed as balancing out the representation in the state.

[Alcibiades]

4. I hope they get what they want

I pray that the Pennsylvania Republicans nominate the most conservative nutjob they can find and run him in the general election. I used to live in Pittsburgh, and, though I doubt someone like Joe Torsella could beat even an 80 year old Arlen Specter, he could beat whatever Toomey substitute the Republican right could put forward. Specter spent $22 million in 2004 to get 53% of the vote. Whoever the rightwingers run would have to outraise an incumbent senior Republican, defeat him, and then win against the Democrat, who would probably not be so depleted.

And I would much rather have a moderate Democrat in that seat than Specter, assuming he lives that long, which I hope he does because, for a Republican, he's not all that bad.

[wisteria]

6. And, I am saying IMO, another Dem will not get this seat.

It would go to the Republican. They have a lot of money and a real friend in Scaife who owns this newspaper. A Rebublican would win hands down in the Western and Harrisburg areas and I am not so sure that Philly would likely be able to push a Democrat over the top. Pa likes a balance. I base my observations on my experiences living in all three areas of the state.

[Alcibiades]

7. Never say never!

Lots of folks down here thought we would reelect Libby Dole, but we sent her back to Kansas instead! :)

[MrMickeysMom]

5. Hmmmm...

"I know that it is politically unpopular because of the failure of regulators. Sometimes — even though it is politically unpopular — you just have to bite the bullet and do what is necessary for the future of the economy."

... Yes, Arlen, we know about you and theories about "BULLETS", don't we? :eyes: