Even after pulling in the reins on Wall Street, Massachusetts Congressman Barney Frank doesn’t mind coming back for a hopeful dip into executive pockets.
Frank – the co-author of the Dodd-Frank bill that has put stricter regulations and reforms on the financial industry, will be fundraising for his reelection campaign tonight in New York, Politico reported. Frank is hoping to raise tens of thousands of dollars at the fundraiser, which will be hosted by Charles Myers, a banker at Evercore Partners.
Both Frank and his spokesperson said raising money for a Congressional campaign is a necessity, and it should not matter who the money is coming from. And it’s not the first time Frank has used the clout of the financial industry for that cause – a Wall Street lobby group hosted a fundraiser for him in June.
Tonight’s effort also has several bankers’ names on the list of co-hosts, though one can only guess at how many Wall Street guests this event will draw (suggested donation for guests is $2,500) — and how many more it won’t. Frank’s spokesman said several bankers declined a fundraiser invite six months ago because of Frank’s both tangible and symbolic connection to Dodd-Frank.
And Frank isn’t the only politician going after Wall Street cash despite the tensions brewing between Main Street and Wall Street these days. Last night, U.S. Senate hopeful Elizabeth Warren, who is running in Massachusetts, had a fundraiser hosted by investor George Soros and New York Attorney General Eric Schneiderman.