For Immediate Release


April 15, 2010

Pike Has Over 3 Times Gerlach's Cash-On-Hand
Almost a Quarter of Gerlach's Cash Came From Wall Street

Ardmore, PA - In an FEC report to be filed later today, Pike for Congress will report almost $1.6 million raised and nearly $1.2 million cash-on-hand -- over 3 times Republican Congressman Jim Gerlach's reported cash-on-hand of $336,180.71 -- through the fundraising quarter ending March 31, 2010.

Gerlach's FEC report showed that in the first 3 months of 2010 he received almost $118,000 from the finance, insurance, and real estate industries, which are regulated by the House Financial Services Committee, a committee on which he has served for 8 years. Along with the over $1.6 million he took from these sectors previously in his career, this means he has now taken well over $1.7 million from these interests. (See Gerlach FEC Report and Center for Responsive Politics, OpenSecrets.org.)

"It doesn't surprise me that Wall Street is trying to bail out Congressman Gerlach -- especially after he voted for the bank bailout and opposed the Wall Street reform bill to prevent future bailouts," said Andrew Eldredge-Martin, Pike's campaign manager. "Almost a quarter of Gerlach's fundraising this quarter came from financial industries, so his vote against Wall Street reform has definitely been lucrative for him -- unfortunately, it did nothing for the economic security of Pennsylvania's families."

Pike for Congress added over $225,000 to its total receipts in the first 3 months of 2010 and now has over 1700 individual contributions.

Doug Pike served on the Editorial Board of The Philadelphia Inquirer for 14 years, providing insight and analysis on a broad range of public policy for southeast Pennsylvania. He also served as President of a hospital for 10 years. Previously, Pike served as a Special Assistant and Speechwriter for U.S. Senator Paul Tsongas. In 1971, Pike graduated with honors from Princeton University. He resides in Tredyffrin Township, Chester County.

Contact: 610-896-2162, drew@pikeforcongress.com

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