What do political donations get you? $800 million in Florida!

[Sancho]

As insurance firms' money vanished, Poes played politics

http://www.tampabay.com/news/politics/state/article441164.ece

TALLAHASSEE — As Poe insurance companies sank toward insolvency after two record hurricane seasons, Poe family members and managers were not just collecting hefty payments, they were also flexing their political muscle.

Poe board members and family members gave more than $65,000 to state political candidates during the 2006 election cycle, even as their companies' bottom line plummeted.


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Now, all Florida insurance customers are footing the bill through recurring assessments to cover nearly $800-million in Poe's debts.

Public records show even as Poe was going under, its leaders, including former Tampa Mayor Bill Poe Sr., were still politically active.

Poe managers bundled at least $6,500 in direct campaign contributions to former Chief Financial Officer Tom Gallagher, a failed candidate for governor, all on the same day, June 20, 2005.

As the state's then-chief financial officer, Gallagher was instrumental in 2006 in making sure Poe's insurance policies got transferred smoothly to Citizens Property Insurance Corp.