In 2011, he registered as a lobbyist for the Royal Bank of Canada and, over the course of the year, the bank paid McIntosh and his Mayer Brown colleagues $300,000 to represent its interests.
Now, McIntosh is focusing much of his campaign message on his opposition to bailouts for banks such as President George W. Bush’s 2008 Toxic Asset Relief Program (TARP). He attacks two opponents for supporting “federal bailouts” and promises he’ll “never vote for a bailout.”
The only problem: the Royal Bank of Canada’s American subsidiary, RBC America was among those banks receiving bailout funds. According to TARP records, RBC USA received a commitment of $270,000 in Incentive Payments for Home Loan Modification. At least $43,500 has already been given to the bank.
Either McIntosh is being insincere with his fiery anti-bailout bluster…or he was just happy to profit from that which he finds reprehensible.
Continue reading McIntosh Lobbied For Bank That Took Bailout Money