By Ronnie Ellis / CNHI News Service
Republican U.S. Senate candidate Matt Bevin on Tuesday gave yet another explanation for his signature on a 2009 letter to investors containing praise for the Troubled Asset Relief Program or TARP, saying it was applied digitally.
Bevin, the Louisville investment manager who is challenging incumbent Republican U.S. Sen. Mitch McConnell, continues to be hounded by questions about the letter in light of his criticism of McConnell’s vote for the TARP in the fall of 2008 when many thought the economy was hovering on the brink of collapse.
Tuesday, Bevin said his signature was applied electronically, though he never actually said it was done without his knowledge.
“It wasn’t a signature,” Bevin said. “It was a digital signature that was put on there as required by law. It was submitted electronically. They always are.”
But an hour later, after attending a rally in the Capitol Rotunda by a group called Christians at the Capitol, Bevin simply said he signed all the documents.
“I’ve signed many documents as president and CEO as required by law,” Bevin said. “I signed every single document that we were required to file. I did not write any of the investment commentary for any of them.”
Bevin often criticizes McConnell for voting for the TARP. Then last week, John Bresnahan reported in POLITICO that Bevin signed an Oct. 28, 2009, letter to investors of Veracity Fund, of which Bevin was president and chairman of the board, praising governmental intervention in the financial markets.
“Most of the positive developments have been government-led, such as the effective nationalization of Fannie Mae and Freddie Mac, the passage of the $700 billion TARP (don’t call it a bailout) and the Federal Reserve’s intention to invest in commercial paper.”
The report was signed by Bevin and Daniel Bandi, chief investment officer and vice president for Veracity.
Since then, Bevin has struggled to try to put the controversy to rest, at first suggesting he didn’t sign the letter but then revising that to say he’d signed it, but did so only because he was required by law to sign it and that Bandi was responsible for the content of the letter.
The controversy has dogged Bevin, fueled by media questions and criticism from the McConnell campaign. Over the weekend, Kentucky’s other Republican U.S. Senator, Rand Paul, said the controversy has hurt Bevin.
Paul endorsed McConnell before Bevin entered the race, but many of Paul’s supporters have backed Bevin and Paul declined previously to criticize Bevin at the request of the McConnell campaign, going so far as to call Bevin “a good and Christian man.”
By Ronnie Ellis / CNHI News Service
- State News
Grimes comes out firing on McConnell
Alison Lundergan Grimes, Kentucky’s Democratic Secretary of State who is challenging Republican U.S. Sen. Mitch McConnell in this fall’s elections, went after the five-term incumbent in a speech here to a convention of local county officials.
Conway, Comer address judge-execs
It might have been a preview of next year’s Kentucky governor’s election — but county officials here for a convention probably didn’t expect one likely candidate to endorse a potential opponent.
McConnell, Grimes parade cases
Mitch McConnell and Alison Lundergan Grimes know a good place to look for votes when they see it.
McConnell, Grimes disagree on contraception case
Kentucky’s Republican congressman praised Monday’s U.S. Supreme Court ruling that corporations may opt out of a requirement to provide employees contraceptive coverage through insurance plans.
Beshear sings praises of Affordable Care Act
Kentucky Gov. Steve Beshear told a Washington conference Tuesday that Kentucky’s embrace of the Affordable Care Act has been “life-changing” for thousands of Kentucky enrollees and “transformative” for Kentucky.
Kentucky actually fares well under new EPA regs
Kentucky politicians and the coal industry howled about the latest installment of greenhouse gas emission regulations issued last week by the federal Environmental Protection Agency.
New EPA C02 regs examined
Given their complexity and potential impact in coal-dependent states like Kentucky, there’s considerable confusion about new carbon emission regulations issued by the Environmental Protection Agency.
State budget officials predict ‘significant shortfall’
With only 20 days left in the 2014 fiscal year, state budget officials announced Tuesday Kentucky faces an “inevitable” and “significant” revenue shortfall in both the General and Road Funds.
Grimes ad blasts Obama for coal policies
Mitch McConnell is no longer the only U.S. Senate candidate running against Democratic President Barack Obama.
Legislative leaders blast carbon regs
President Barack Obama’s efforts to rein in carbon emissions, blamed by science for changes in the climate, continues to draw harsh criticism from both political parties in Kentucky.
- More State News Headlines
- Grimes comes out firing on McConnell