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House Banking Scandal

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House Banking Scandal Empty House Banking Scandal

Post by Admin Tue 13 Dec 2011, 5:07 pm

House banking scandal

http://en.wikipedia.org/wiki/House_banking_scandal

The House banking scandal broke in early 1992, when it was revealed that the United States House of Representatives allowed members to overdraw their House checking accounts without risk of being penalized by the House bank (actually a clearinghouse).

This is also sometimes known as Rubbergate (from the expressions "rubber check" [bounced check] and "Watergate)". The term is misleading because House checks did not bounce; they were honored because the House Bank provided overdraft protection to its account holders. It was also sometimes known as the "congressional check-kiting scandal".

The House banking scandal ultimately involved more than 450 representatives, most of whom did not break any laws. Twenty-two congressmen and -women were singled out by the House Ethics Committee for leaving their checking accounts overdrawn for at least eight months out of a sample of 39 months.[1]

The following 22 House members were singled out by the House Ethics Committee:[1]

[first number is number of checks & second number is months overdrawn]
Tommy F. Robinson............. Arkansas..........Dem/Rep......996....16
Robert J. Mrazek..................New York..........Democratic...920....23
Robert W. Davis...................Michigan...........Republican....878....13
Doug Walgren...................... Pennsylvania.....Democratic...858....16
Charles F. Hatcher................Georgia.............Democratic...819....35
Stephen J. Solarz.................New York...........Democratic...743....30
Charles Hayes......................Illinois................Democratic...716.....5
Ronald D. Coleman...............Texas................Democratic...673....23
Carl C. Perkins.....................Kentucky............Democratic...514....14
Bill Alexander.......................Arkansas............Democratic...487....18
William F. Goodling................Pennsylvania......Republican...430......9
Ed Towns.............................New York...........Democratic...408....18
Ed Feighan...........................Ohio..................Democratic...397......8
Harold Ford, Sr. ...................Tennessee.........Democratic...743.....30
Mickey Edwards...................Oklahoma..........Republican...386......13
Bill Clay...............................Missouri.............Democratic...328...... 9
Tony Coelho.........................California............Democratic...316....12
John Conyers.......................Michigan.............Democratic...273..... 9
Mary Rose Oakar..................Ohio...................Democratic...213....18
Joseph D. Early....................Massachusetts....Democratic...124....13
Douglas H. Bosco.................California.............Democratic...124....13
Jim Bates............................California..............Democratic...89...... 9
Newton Leroy Gingrich..........Georgia................Republican... 22......? [see NOTE below]

Public exposure

In the early days of the scandal, when the media began reporting on the loose practices, Republican Minority Whip Newt Gingrich, along with 7 freshman Republicans referred to as the Gang of Seven or "The Young Turks," made the strategic decision to publicize the scandal in an attempt to sweep congressmen with overdrawn accounts, most of them Democrats, out of power. Gingrich realized that far more Democrats could be implicated in this scandal than Republicans, so he made the decision to make the identities of all of those involved public and "let the chips fall where they may."
Jim Nussle, one of the Gang of Seven, came to national attention when he made a speech from the well of the House while wearing a paper bag over his head to protest the "shameful" ethical behavior involved in the scandal.

Gingrich pressured the then Speaker of the House Tom Foley to ensure that the special counsel appointed to investigate the matter informed the voting public of the overdrafts and the identities of all of the Congressmen responsible.

[NOTE: SOMEONE has recently added Newt Gingrich's name to the bottom of the list on Wikipedia [which is user written] which make the total of 23 !! I looked for another listing from the time-period and again found only a list of 22 and the following with NO GINGRICH LISTING.....

-----------------------------------------------
RELATED:

The House Banking Scandal - 1992

As scandals go, it wasn't that big of a deal. But it infuriated people back home and caused a firestorm in Washington. Members of Congress, once again, were playing by different rules than regular people. If they needed extra money, all they had to do was go to the House "bank" and over draw their accounts. At least 355 members (out of 435) had overdrawn their accounts; and about 110 had 'fessed up to it.

http://www.congressionalbadboys.com/banking.htm
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