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Rating:Reynolds Backs Franks' Re-Election Bid Not Rated 0.0 Email Routing List Email & Route  Print Print
Wednesday, October 27, 2010

Reynolds Backs Franks' Re-Election Bid

News summary by MFWire's editors

Rep. Barney Frank (D-Mass.) is reportedly having mixed success raising money from the financial services industry for his re-election campaign, according to Roll call. But at least one familiar fundster is standing by the powerful Democrat.

Campaign finance records show that Frank has received some $60,000 in campaign contributions since Wednesday from insurance, banking and mutual fund executives and their companies’ political action committees including Putnam Investments [see profile], State Street Bank [see profile], Liberty Mutual Insurance Co., Fidelity Investments [see profile], BlackRock Capital Management [see profile], Ameriprise Financial Inc. [see profile], Advanced Life Underwriting, Financial Service Centers of America, Independent Insurance Agents and Brokers of America, Webster Bank, and Coastal Federal Credit Union.

In fact, Putnam Investments’ PAC reportedly wrote a $2,500 check to Frank’s re-election campaign Monday and its CEO Robert Reynolds, also made a $2,400 contribution.

However, Frank isn't having such luck with the alternative investment crowd. “People in the derivatives businesses weren’t too happy with me,” Frank said, in an interview.  

Edited by: Hung Tran

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