The press releases and press-conference rhetoric failed to mention, however, a huge conflict-of-interest that certainly brings Gregg’s character into question. A major newspaper reports that Gregg, one of the richest members of Congress, owns millions of dollars in stock and savings in Bank of America. As a senator he enthusiastically voted to approve last fall’s $700 billion bank bailout. A big chunk of the taxpayer cash—$45 billion—went to none other than Bank of America.
Not surprisingly, Gregg was the lead Republican negotiator who heavily advocated the government rescue and he broke with his party to push for the release of the second half of the bailout money.
Besides millions of dollars in bank stock, Gregg also has blue-chip stocks in major oil and communication companies as well as real estate holdings.
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UPDATE
Gregg: Ex-staffer caught up in corruption probe
An ex-aide to Commerce Secretary nominee Judd Gregg is under investigation for allegedly taking baseball and hockey tickets from a lobbyist in exchange for legislative favors.
The revelation comes at a particularly bad time for President Barack Obama’s administration, a day after he had to defend his selection process because two high-profile nominees withdrew due to tax problems.
It also points to the challenges confronting a president who promised to end Washington’s insider dealings but who has hired mostly Washington insiders.
The senator said he was unaware of the investigation until he was contacted by the Justice Department.
Why does Obama have to surround himself with conflicting people? Or is it that there not anyone but crooks in Washington? Our country is lost to the nuts! Did I just read again that another one says they didn’t know about an investigation? This is getting more of a laugh each time these people say “Didn’t know” !
