South DaCola

Johnson takes payola from pay-day loan lobbyists

One more reason why I have trouble supporting the Democratic party and their candidates. They continue to take money from lobbying groups that are bad for society. And Tim Johnson is no exception, taking money from one of the most crooked (legal) groups, Pay day loan centers;

A newer player representing Internet payday lenders — a growing segment of the market — also ramped up its lobbying and political giving efforts. The Online Lenders Alliance, formed in 2005, nearly quintupled, to $480,000, its lobbying expenditures from 2007 and 2008. It contributed $108,400 to candidates in advance of the 2008 elections compared to about $2,000 in the 2006 contests. Gutierrez was among the top House recipients, getting $4,600, and the top Senate recipient was Sen. Tim Johnson, D-S.D., a Banking Committee member who got $6,900.

Of course, this is no surprise, but extremely disappointing considering the economy and the devasting affect these places have on lower income families, especially in South Dakota. Johnson should have known better.

Exit mobile version