“Bayh landed a lucrative job with private equity giant Apollo Global Management shortly after leaving office in January 2011. He had in the months prior worked against a tax increase on carried interest and a provision of the Dodd-Frank Wall Street Reform act that would have hurt the bottom lines of companies like Apollo.
“The timing of the new job prompted IndyStar to ask Bayh’s campaign about half a dozen taxpayer-funded trips Bayh took to New York City during the last half of 2010. The flurry of travel was unusual for Bayh — he hadn’t used taxpayer money to travel to New York City since 2002.
“In response to IndyStar’s inquiries, the campaign said in early September that Bayh didn’t meet with anyone from Apollo during those trips.
“Turns out, that wasn’t the case.
“The Associated Press reported Saturday that Bayh stayed overnight three times at one Apollo executive’s New York City residence, and met twice with the company’s chief executive, Leon Black. The report was based on Bayh’s previously unreleased 2010 schedule.” (Tony Cook and Chelsea Schneider, “When Questioned, Bayh Camp Failed To Reveal Apollo Meetings,” Indianapolis Star, 10/10/16)
Bayh still hasn’t answered for his actions in the votes for hire scandal as the layers continue to pile up. On Friday, an AP investigation found that Bayh spent his last year in office casting votes that would benefit future employers as he held dozens of meetings with corporate headhunters.
“In June 2010, Bayh was among a small group of Democrats who helped kill a tax increase on private equity gains known as carried interest opposed by Apollo Global Management. That fall he stayed overnight three times at one Apollo executive’s Central Park South residence, and met twice with the company’s chief executive, Leon Black.
“Weeks after Bayh left the Senate, Apollo announced he had been hired as a senior adviser.
“Similarly, in May 2010 Bayh lunched with a Marathon Oil board member. Then in June, he and a minority of Democrats joined with Republicans to defeat an amendment by Sen. Bernie Sanders of Vermont that would have eliminated billions in tax deductions and exemptions for oil and gas companies.
“Marathon Petroleum Corp., a new Marathon spinoff, announced Bayh had been elected to its board in July 2011.” (Erica Werner, “Job Hunt Substantial Part of Bayh’s Last Year,” Associated Press, 10/8/16)
And over the weekend, Bayh finally released his personal financial disclosure after trying to bury it by asking for an extension when he joined the Senate race over the summer. The filing made it clear why Bayh didn’t want anyone to see his personal finances – his votes-for-hire scheme made him rich, with his net worth jumping by as much as $46 million since he left office.
“Bayh’s 19-page personal financial disclosure form details a large jump in his family’s net worth over the last six years, as the former senator embarked on a post-Congress career at powerful K Street firms and on corporate boards. Bayh, along with his wife Susan, reported between $13.9 million to $48 million in assets, the records show.
“Bayh’s post-Senate earnings are up sharply from his time in public office. Bayh earned a salary of $174,000 annually in 2010 — though his wife, Susan Bayh, also earned at least $1 million working for the biotechnology company Dendreon and over time earned income and stock options from six other companies. Evan and Susan Bayh had between $2.1 and $7.7 million in assets — plus stocks and stock options from two companies worth at least $1 million each belonging to Susan Bayh — when Bayh left the Senate at the end of 2010, according to a filing at the time. (Seung Min Kim and Maggie Severns, “Bayh Net Worth Soared Since Leaving Senate,” Politico, 10/10/16)
Evan Bayh used his office for personal profit. Then he turned his back on Hoosiers to get rich as a Washington insider. Then he lied about it. No wonder Bayh’s campaign is in a downward spiral. Bayh won’t put Hoosiers first – he’s too busy helping himself.