Jim Gibbons and Wells Fargo
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.
So, it leads to the question, where Jim Gibbons stands on TARP and bailouts. As unpopular as TARP is among the GOP, it probably did save our economy from a total collapse. But where does businessman Jim Gibbons stand on TARP? He may need to bash TARP to win his election but he may have needed TARP to keep his job.
1 comment December 15th, 2009
