Pawlenty’s ties to Morgan Stanley execs scrutinized
Wednesday, June 08, 2011 at 11:00 am
- 5 Comments
Former Gov. Tim Pawlenty’s presidential campaign and political action committee has benefited from a large amount of money from top executives of Morgan Stanley, a global financial services corporation which has been implicated in the financial and mortgage meltdown that brought about the Great Recession. A report by the Center for Public Integrity released this week scrutinized Pawlenty’s ties to top executives at the company, finding that he’s raised more than $800,000 in the last month with its help.
According to the report, Pawlenty’s Freedom First PAC got $79,500 from Morgan Stanley executives last year. Only Federated Insurance gave more to Pawlenty. Pawlenty has also tapped Morgan Stanley executive Bill Strong to co-chair his presidential campaign, and under Strong’s leadership, Pawlenty raised $800,000 in two events — one in Chicago and another in Texas.
Morgan Stanley has been the target of numerous probes involving the mortgage and investment crisis. Last month, the company, along with Bank of America, settled after it was alleged that it wrongfully foreclosed on nearly 200 military personnel. In 2009, it settled with consumers who alleged Morgan Stanley misrepresented investment information. New York state launched an investigation last month into Morgan Stanley’s role — in addition to several other large financial services companies — in the mortgage-backed securities crisis that eventually led to the nationwide economic recession.
Massachusetts won a settlement in March from Morgan Stanley for its role in the mortgage crisis. Another settlement was reached with Colorado in March as well.
Morgan Stanley was also a recipient of bailout funds. When Pawlenty announced his presidential bid, he promised to end bailouts.
“Pawlenty’s aggressive pro-business stance as governor coupled with government scrutiny of Morgan Stanley could create image problems with some voters still angry about the Wall Street bailout,” wrote the Center for Public Inquiry in their reports.
Follow Andy Birkey on Twitter5 Comments
Comment posted June 8, 2011 @ 11:40 am
I know it’s something of cheap shot, but I just knew this man was a male call girl, or in the vernacular, a prostitute for moneyed people.
Mr. I’m Evangelical Pawlenty would upon reflection of the old tome known as the Bible realize there is only one time the Christ is reported to have lost his temper…. and that was in the temple with the money changers… and that is just where we’ll find Timmy.
Where is Lassie when you need her?
Jeff Wilfahrt, Rosemount, MN
Comment posted June 8, 2011 @ 12:00 pm
Morgan Stanley had a big hand in the financial meltdown of the US; Tim Pawlenty had a big hand in the financial meltdown of Minnesota.
Morgan Stanley was saved by bailout funds from the feds; Tim Pawlenty’s political bacon was saved by federal stimulus funds (by letting him dodge the inevitable budgetary bullet yet again)
What was that line about “birds of a feather?”
Comment posted June 8, 2011 @ 2:14 pm
How much was Bill Strong paid while running the world’s economy into the ground? How many more people worldwide starved to death, died of exposure or illness as a result of his industry’s greed? What price did he pay for his role in this global recession/depression? He, and his cohorts should be jailed, T-Paw, not hired.
Praise Jebus, God hates poor people, Amen.
Comment posted June 8, 2011 @ 7:21 pm
Timmy P up from the stockyards, friend of the little man. We need us some of that reform.
Gotta love the Coen brothers.
RSS feed for comments on this post.
Sorry, the comment form is closed at this time.
