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McGinty Hits Sestak on Wall Street, Was VP for Wall Street Firm

Katie McGinty's hypocrisy continues as the messy Democrat primary election nears.

SHOT:

Katie McGinty quietly released a new negative TV ad on Friday in which she takes aim at her Democratic primary opponent Joe Sestak for “looking out for Wall Street CEOs.”

CHASER:

Katie McGinty was Vice President for a Wall Street firm, Natsource LLC. The firm specialized in energy investment and trading.

Background:

  • From 2001 – 2003, McGinty Served As Vice President For Asset Management At Natsource LLC., A Financial-Services Firm Specializing in Energy And Environmental Transactions. (Amy Worden, “Ex-Clinton Adviser Reportedly Set To Head DEP Kathleen McGinty, Who Led A White House Panel On The Environment, Is Said To Be Ed Rendell’s Choice,” The Inquirer, 1/16/03)

  • Natsource Hired McGinty To Lead An Investment Fund To Target Companies And Technologies That “Promise Robust Returns And That Generate Valuable Greenhouse Gas Reductions.” “Natsource has named Kathleen A. McGinty, vice president, Natsource, Asset Management. Natsource established the new division ‘to add value for clients by creating environmentally related financial products,’ the company said. The financial products will be aimed at capitalizing on new investment opportunities driven by the need for reliable, clean sources of energy providing air quality and greenhouse gas benefits. ‘The need for reliable power and clean technologies creating environmental value is growing,’ Jack Cogen, president of Natsource, said. ‘Katie’s experience in the domestic and international environmental and energy arenas makes her the perfect candidate to establish this business line for Natsource and create new investment opportunities for our customers.’ First among the financial products to be developed under Ms. McGinty’s leadership is ‘an investment fund targeting companies and technologies that promise robust returns and that generate valuable greenhouse gas reductions,’ the company said.” (“Natsource Names Clinton/Gore Aide To Team,” The U.S. Coal Review, 7/2/01)

  • Natsource Is A “Wall Street Firm.” “McGinty, secretary of the state Department of Environmental Protection, has known Lopez since her three-year stint as a vice president with NatSource, a Wall Street firm that specializes in energy investment and trading.” (Bill Toland, “Spanish Wind Energy Company To Open Headquarters In Philadelphia,” Pittsburgh Post-Gazette, 9/24/04)