Bush Bailout Advisor Launches Hypocritical Attack on Bob Kerrey Over Bailout

OMAHA – In the new Crossroads GPS attack ad on Bob Kerrey, Karl Rove must have forgotten that he served President George W. Bush for eight years. President Bush initiated, and signed, legislation establishing the Troubled Assets Relief Program (TARP) in 2008.

Now Rove is attacking Bob Kerrey in a new ad from Crossroads GPS, his Super PAC. He is specifically attacking him for serving on the board of Genworth, a company that did the same thing many other companies did – considered options available through the TARP program.

“If Rove had a problem with this, he should have convinced his boss, President Bush, not to sign the legislation establishing TARP in the first place,” said Paul Johnson, Kerrey Campaign Manager. “Rove is hypocritical at best and devious at worst.”

In fact, contributors to Crossroads GPS include companies that took TARP money. JP Morgan Chase received $25 billion alone in bailout funds. Morgan Stanley received $10 billion.

Another irony in Rove’s attack is that State Senator Deb Fischer is the candidate in this race whose victory was paid for by a Wall Street broker.

“State Senator Deb Fischer owes everything to Wall Street,” Johnson said. “Joe Ricketts bought her the primary victory with Wall Street cash. Now he, and all of his wealthy Wall Street friends, will expect something in return. If Fischer goes to Washington, she won’t be serving Main Street.”