For immediate release
Contact Adam Mason, 515-255-0800 or adam@iowacci.org
or Kristin Schaaf, 515-255-0800 or kristing@iowacci.org
Special interest fundraiser comes after Grassley voted against bill opposed by hosts to allow bankruptcy judges to renegotiate mortgages
Tuesday, June 23, 2009, Des Moines, Iowa – Lobbyists and political action committees from the mortgage, insurance, and financial industries hosted a fundraising event for Sen. Chuck Grassley (R-Iowa) Monday afternoon just steps from the U.S. Senate. Sen. Grassley recently backed the industry and opposed legislation to allow judges to renegotiate mortgages. The fundraising event drew strong criticism from members of Iowa Citizens for Community Improvement (CCI), who are working towards campaign finance reform through public financing of elections (Voter Owned Iowa Clean Elections). Following yesterday’s statement from Public Campaign Action Fund, a campaign finance watchdog organization, CCI members are calling for bold action in Iowa.
“In March, I and other CCI members were at the National People’s Action conference with organizing groups from all across the country to meet with Sen. Grassley’s staff on the Fair Elections Now Act and the current financial crisis,” said CCI member Judy Lonning from Des Moines. “The Fair Elections Now Act ends the special-interest money chase and allows leaders like Grassley to do what we elected them to do - focus on our nation's problems instead of letting their lobbyists influence their vote.”
“Iowans shouldn’t have to wonder - is Sen. Grassley listening to the very industries that help put us in this financial crisis or to his constituents here in Iowa?” said CCI member Robin Ghormley from Des Moines. “Our communities are hurting because the failures of Congress and regulators to oversee the actions of these big-money campaign contributors.”
On April 30, Grassley voted against legislation that would have allowed bankruptcy judges to renegotiate the terms of mortgages as part of bankruptcy proceedings. The Mortgage Bankers Association led the successful charge against the legislation, which led sponsoring Sen. Dick Durbin (D-Ill.) to say of the banks "frankly they own the place."
According to the Center for Responsive Politics, Sen. Grassley has raised nearly $2.8 million from the finance, insurance, and real estate sector over his career for his campaign and leadership political action committee.
The hosts of the fundraiser include representatives of the Mortgage Bankers Association, the Mortgage Insurance Companies of America, AFLAC PAC, and a lobbyist, Smith W. Davis, whose clients include Moody's, the Private Equity Council, and the U.S. Chamber of Commerce. Davis is the head of the financial policy practice at powerhouse lobbying firm Akin Gump.
A background document on each host and Grassley's fundraising is available online at http://www.campaignmoney.org/finance/grassley.
Iowa Citizens for Community Improvement is a group of everyday people who talk, act and get things done on issues that matter most. With thousands of members from all walks of life – urban and rural, black and white, immigrants and lifelong Iowans – CCI has been tackling tough issues and getting things done for more than 30 years.
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