GOP congressman Cantor's wife's bank did well in the bailout

[EV_Ares]

In brief:
Rep. Cantor played a key role in getting bipartisan approval for the controversial $700 bank bailout bill in September, although since then he has been a vocal opponent of the surprising way the money is being spent: buying up stock in banks.

Still, it is one of those strange quirks in politics that $267 million of the money is going straight to a privately owned bank where Cantor's wife, Diana, is the managing director at a subsidiary. It's a job she apparently started early last year, after years in finance.

Cantor's people maintain that his wife and he did not even know that her employer was applying for a federal taxpayer bailout.

The parent company is called "New York Private Bank and Trust," and it's run by New York real estate tycoon Howard Milstein.

The Treasury Department sent the money to the bank on January 9th, a little more than a week before the Bush administration left office.

Diana Cantor works for a private bank subsidiary that bills itself as a "haven for wealthy.

Link to article:
http://www.propublica.org/article/bank-employing-gop-house-leaders-wife-got-bailout-bucks-090123

[whistle]

1. The $700 billion bailout can be summed up in one word: larceny

[Turbineguy]

2. There'd be no point in being a republican otherwise.