Friday, December 12, 2008

Bailout Bums were largest donors for Political Conventions

This is absolutely disgusting! Crying the "blues" they needed "green," many of the companies receiving or asking for bailout money appeared to have greased some palms...

From Open Secrets --
Weeks before they turned to the federal government for rescue, companies such as AIG, Ford, Citigroup and Freddie Mac were among the biggest sponsors of the summertime political conventions that nominated Barack Obama and John McCain for president, according to a new analysis by the nonpartisan Center for Responsive Politics, in collaboration with the Campaign Finance Institute. CFI's full study can be found at www.cfinst.org.

Embattled insurance giant American International Group (AIG), which received an $85 billion loan from the government just weeks after the GOP convention, gave $750,000 to each gathering. And AIG isn't the only high-profile company that sought a handout from taxpayers after writing a big check toward the summer's political gatherings. Others included Citigroup (which spent a total of $600,000 on the conventions), Goldman Sachs (which spent $505,000), Ford Motor Co. ($100,000 to each convention) and Bank of America (which spent $100,000, entirely on the Democratic convention). The federal government took over Freddie Mac just weeks after the mortgage buyer split half a million dollars between the two conventions. More...

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