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Tuesday, December 15, 2009

Iowa Progress: Jim Gibbons and Wells Fargo

Excerpted from this post at Iowa Progress

Jim Gibbons's campaign for Congress seems to be rooted in his job at
Wells Fargo that he held before moving to Des Moines to run. Despite
Gibbons's harebrained economic ideas, he still touts himself as a
businessman as one of the core reasons he's running for Congress.
However, Gibbons has said nothing about TARP and the bailouts of last
year that proved so unpopular among much of the GOP base which he is
trying to court. There's a good reason for this. As an employee of
Wells Fargo, Jim Gibbons worked for a corporation that received $25
billion of taxpayer money. That's $25 billion that went to keep Wells
Fargo solvent and from having to lay off employees, one of whom, of
course, was Jim Gibbons. Further, since it received the money, Wells
Fargo has been the last big bank to pay it back.


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Mike Schramm
Andy Szal

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