UPDATE: The Democratic Senatorial Campaign Committee is already firing the first salvos against Coats in this potential race. They intend to portray Coats as a "D.C. lobbyist." Here's their first press release on his campaign:
“Dan Coats is a federally registered lobbyist whose client lists include banks, private equity firms, and defense contractors. Coats is a Washington DC insider who lined his own pockets as taxpayers spent $700 billion bailing out Wall Street banks. Indianans won't ignore Dan Coats’ decade as a lobbyist working the system to gain special favors for the banking industry at the time of financial collapse and at the expense of working Americans.”UPDATE II: The hits on Coats just keep coming. Politico's Ben Smith reports that Coats has resided and voted in Virginia for the past decade.
Dan Coats is Currently a Federally Registered Lobbyist. Dan Coats is currently a federally registered lobbyists, whose clients include banks, private equity firms, and defense contractors. [Lobbying Disclosure Act Database]
Coats Lobbied for Bank of America Just As Bank Took $15 Billion in Bailout Funds. According to filings, Coats lobbied for Bank of America in October 2008, just as the bank was receiving $15 billion in bailout funds. Coats firm was compensated $120,000 in the period just before the Wall Street bailouts.