As Chris Bowers from Open Left is blogging, The National Republican Congressional Committee has secured an $8,000,000 loan to help support House races in the closing weeks until the elections.
How ironic is this?
From the subscription only Roll Call:
The National Republican Congressional Committee, trailing its Democratic counterpart considerably in cash on hand, has secured an $8 million loan to spend on House races during the last few weeks of the campaign, according to sources.
The NRCC reported $14.4 million in cash on hand as of Aug. 31, compared to $54 million in the bank for the Democratic Congressional Campaign Committee. As it did last cycle, the NRCC is procuring its loan from Wachovia Bank, sources confirmed.
As we know, Wachovia is in the toilet and being acquired in the future by either Citigroup or Wells Fargo. They will also being getting some of that $800 billion bailout. In essence, Wachovia is using taxpayer money to lend to the NRCC to staunch the bleeding in congressional district races.
The irony here...the fact that many House Republicans who were against the bailout will now have their campaign's benefit from it.
Hypocrits.