The mad Tea Party has become the Mad Tea Party [Quigley Cartoon Blog]

Swept into office screaming against the excesses of Wall Street, and claiming to be against any taxpayer bailouts for it makes it a little more than ironic that many of the Congressmen who rode the Tea Party wave are now accepting election campaign money from Wall Street and doing very little, if anything, to make sure any future bail outs won't happen. 10 of the Tea Party-backed freshmen are on the House Financial Services Committee, but they haven't even considered or introduced legislation to address concerns about “too-big-to-fail” banks that would answer bipartisan concerns.

Meanwhile they are collecting money from the firms bailed out by President George W. Bush’s $700 billion Troubled Asset Relief Program, the one they conveniently overlook the truth about while blaming that program on Obama and then using it as a sign of his failure.

Coincidently, while getting bank money, they took the lead on measures aimed at repealing parts of Dodd Frank with the controls of financial markets that it contained, and reducing the power of new agencies such as the Consumer Financial Protection Bureau, one of the cornerstones of Obama’s regulatory overhaul which the Republicans opposed.

These freshmen congressmen have discovered that if they want to keep their positions in the House they need money, and the Wall Street crowd has it. In order to get the money, these Tea Party anti-Wall Street people formed Team 2012, a fund raising committee that allowed contributions from the very institutions they railed against when they first wanted to get elected. Although it has been disbanded, while it existed it collected money from various PAC's and financial institutions that was used by 9 Tea Party freshmen on the Finance Committee.

So the people who rode into Congress condemning the big financial institutions and the power they exercised on those in office who needed to be replaced have now become beholden to them. welcomes thoughtful comments and the varied opinions of our readers. We are in no way obligated to post or allow comments that our moderators deem inappropriate. We reserve the right to delete comments we perceive as profane, vulgar, threatening, offensive, racially-biased, homophobic, slanderous, hateful or just plain rude. Commenters may not attack or insult other commenters, readers or writers. Commenters who persist in posting inappropriate comments will be banned from commenting on