Friday, December 05, 2008

What? A TX 22 Congressman Needs a Bailout?

First it’s Bear-Stearns and AIG. Then it’s Wall Street and the banking industry in general. Then the Big Three stick out their hands.

Everyone wants bailout money.

And now we hear that our newly elected congressman for Texas CD 22, Republican Pete Olson, needs some bailout money as well.

Olson, it seems, loaned his campaign some of his own personal fortune that he’d like to have back, thank you very much, but he also owes some big-time money to creditors.

It’s all here at FortBendNow:

“Left with at least $170,000 in personal loans to his campaign and more than $100,000 owed to consultants, campaign workers and the IRS, incoming GOP Congressman Pete Olson is asking the public to help pay his debts.”

“In an email sent to supporters and residents of Congressional District 22, Olson thanked people for voting for him in his election victory over incumbent Democrat U.S. Rep. Nick Lampson, adding ‘now I need your help for one last time this year.’”

Let me just say that this is unprecedented in TX 22.

Nick Lampson is well-known for his campaign cash raising skills, and leaves office with a $155,000 cash surplus. Before Nick, CD 22 was the realm of Tom “The Hammer” DeLay.

Tom DeLay wasn’t a congressman who ever had any trouble picking up campaign cash. He had lots of friends to help him, too. Unfortunately, most of them are now in stir, so they can’t be of any help to Pete. Indeed, two individuals who were like peas and carrots with Tom DeLay, Chris Homan and Dana Benoit, aren’t going to be of much help either as between the two of them Olson owes a grand total of $53,000, more than half of the outstanding debt his campaign still owes.


And as to that $170,000 personal loan that Olson made to his campaign, money he’d like back now, I have to wonder where that came from. Do DC staffers really pull down that much coin? I just hope to high heaven that Pete didn’t take out a second mortgage on his house – a bad move in this day and age.

So to the conservatives and independents who will do anything but vote for “Liberal Lampson” I say congratulations. Congratulations, you now have on your hands a freshman congressman with no power or pull, just a guy with a bunch of DC friends and cronies.

Hey, that’s right, he’s got lots of DC friends. Maybe Pete can pass the hat around in DC and get his friends, staffers, former staffers and lobbyists to kick in. Evidently they make the kind of serious money where that might be possible, don’t you think?

And what could Pete offer them in return?

Maybe some coupons for organic honey from his position of power on the Subcommittee on Horticulture and Organic Agriculture.

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