Is Barney Frank Hurting His Own Wallet?
CNBC Sports Business Reporter
This week, House Financial Services Committee chairman Barney Frank has been the force pushing companies who've received TARP money out of the sports marketing business.
That's particularly interesting when you look at the list of the top five companies that contributed to his cause in 2007 and 2008, according to OpenSecrets.org.
Brown Brothers Harriman & Co $36,200
Manulife Financial $15,000
Royal Bank of Scotland $13,800
Deloitte Touche Tohmatsu $13,000
Bank of America $12,750
Royal Bank of Scotland and Bank of America are among the highest spenders in sports marketing. And while we're at it, let's check out what industries were his top contributors, according to OpenSecrets.org.
Securities & Investment $235,500
Real Estate $220,101
Lawyers/Law Firms $187,228
Commercial Banks $120,950
It doesn't seem like it's good for Frank's business to be doing this, not unless he believes that Wall Street has been hammered enough and that the money is not coming the next time around. For going against those that financially supported him by criticizing them, I guess we should give him credit, right?
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