Politico reports that as the economy was tanking in 2008, Bayh regularly met with financial industry officials as they were seeking bailout funds from Washington – and even had lunch with banking lobbyists on the day of the bailout vote.

“Former Indiana senator and longtime Banking Committee member Evan Bayh held a series of private meetings with financial service industry executives and lobbyists throughout 2008 — just as Wall Street was collapsing and big banks were seeking a bailout from Washington, according to a newly obtained schedule for the ex-lawmaker now running to reclaim his seat.

“One of the engagements — which included lunches, dinners and golf outings — happened the day of the Wall Street bailout vote. On Oct. 1, 2008, when the Senate voted to approve the $700 billion rescue package, Bayh held a “Lunch with Supporters” that included lobbyists for the financial services industry, his schedule shows. Other meetings with industry lobbyists and officials took place in the weeks and months up to and following the bailout vote.” (John Bresnahan, “Bayh Lunched With Bank Lobbyists On Day Of ’08 Bailout Vote,” Politico, 10/24/16)

That would certainly explain why Bayh, who received significant amounts of campaign cash from Wall Street, supported a bailout that Hoosiers didn’t want. In fact, Bayh himself admitted the bailout was wildly unpopular in Indiana – but he voted for it anyway.

  • In 2012, Bayh Told An Investment Conference In Los Angeles That At The Time Of The Bailout Vote People Contacting His Office Were 15,000-To-1 Opposed To The Bailout. BAYH: “The two points I wanted to mention, at the time of the TARP vote, my phone calls, letters, all those sorts of things, were running 15,000-to-1 against the bill. I mean it was incredibly unpopular. People were saying ‘Let them go, they got into this problem. No one is bailing me out, why should we bail them out?’ So forth and so on. But we did what had to be done. We couldn’t let the system go down, although the House did defeat the bill the first time.” (Evan Bayh, Remarks At Milken Institute Global Conference, Los Angeles, CA, 5/1/12)

Makes you wonder – was that one call from a banking lobbyist scheduling their next lunch outing?

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