Reeves campaign partly funded by those who profit from borrowing

Lieutenant governor candidate Tate Reeves has vowed to “stand up to all of those people who want to borrow, borrow, borrow and say ‘Enough is enough’” to reduce state debt.

But Reeves, while serving as state treasurer, has received hundreds of thousands of dollars for his campaign coffers from lawyers, consultants and bankers who make millions in fees from government borrowing, often from non-bidded contracts that Reeves helps negotiate.

An analysis of his donations shows dozens of lawyers and executives from a handful of firms that make money from government borrowing through legal, consultant and other fees on borrowing have contributed more than $400,000 to Reeves’ campaign war chest during his two terms as treasurer. In the same period, these firms have collected more than $48 million in fees.

Read more: http://www.sunherald.com/2011/06/30/3240343/tate-reeves-campaign-partly-funded.html#ixzz1QrERzAlx

6/30/11