Charles Wyly Jr. and Samuel Wyly, Texas businessmen and brothers who are among the nation's most generous campaign donors to Republican political candidates and causes, were today hit with a Securities and Exchange Commission lawsuit accusing them of fraud worth hundreds of millions of dollars.
Together with their wives, the Wyly brothers have donated nearly $2.5 million to Republican candidates and committees during the past 20 years, a Center for Responsive Politics analysis reveals
The SEC accuses the Wylys of pocketing $550 million in undisclosed money over 13 years.
The man behind a $50 billion Ponzi scheme that has roiled Wall Street and shaken up the nonprofit world was also a long-time contributor to Democrats, the nonpartisan Center for Responsive Politics has found. Bernard Madoff was arrested last Thursday and charged with operating a fraudulent money-management business with which he advised investors, hedge funds and institutions, including charitable foundations. Madoff made a fortune, and he played politics with some of that money. In total, he and his wife, Ruth, have given $238,200 to federal candidates, parties and committees since 1991, with Democrats getting 88 percent of that. Overall, Madoff and other individuals at his company, Bernard L. Madoff Investment Securities, gave $372,100 in campaign contributions since 1991, with 89 percent to Democrats. The firm spent $590,000 on lobbying in the last 11 years, all but $10,000 of it with the lobbying firm of Lent, Scrivner & Roth. A search for funds with "Madoff" in their title in lawmakers' personal investments did not find any members of Congress with their own funds invested with him.
The following party committees, PACs and current members of Congress have received contributions from Madoff and his wife since the 1992 election cycle:
Quote from Demosthenes9 :
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Well you know I can be a bitch. You know me. Good night.
Hey, now here is something that you and I agree on completely.
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Could have sworn that Madoff was the biggest crook ever, and also primarily a Democrat supporter.
or how about Tony Rezko? how quickly some forget
The American people will never knowingly adopt socialism.But under the name of 'liberalism',they will adopt every fragment of the socialist program,until one day America will be a socialist nation,without knowing how it happened - Norman Thomas,6-time presidential candidate for the Socialist Party of America
The federal government has taken too much tax money from the people,too much authority from the States,and too much liberty with the Constitution - R. Reagan
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