Companies that received bailout money giving generously to candidates: mostly republicans

[spanone]

corporate america favors republicans....

++++++++++++++++++++

Senate Minority Leader Mitch McConnell (Ky.) was a fierce critic of the federal bailout of General Motors and Chrysler last year, saying he "cannot ask the American taxpayer to subsidize failure."

But General Motors doesn't seem to hold a grudge.

The political action committee formed by the company, which is now largely owned by the taxpayers, cut McConnell a $5,000 campaign check in September, a small piece of the $190,000 it donated to campaigns in the past month.

While GM suspended its contributions as it solicited the government for financial help, it is now back in the game of political giving, increasing donations from its federal political action committee steadily over the past few months.

And GM is not alone: companies that received federal bailout money, including some that still owe the government, are giving to political candidates with vigor. Among companies with PACS, the 23 that received $1 billion or more in federal money through the Troubled Asset Relief Program gave a total of $1.4 million to candidates in September, up from $466,000 the month before.

Most of those donations are going to Republican candidates although the TARP program was approved primarily with Democratic support and President Obama expanded its use to GM and other auto makers.

http://www.washingtonpost.com/wp-dyn/content/article/2010/10/24/AR2010102401561_pf.html

[Angry Dragon]

1. I am sure he will give the money back

[spanone]

2. don't hold your breath.....

funny, now the companies are underwriting failure

[Fumesucker]

3. No good deed goes unpunished..

At least certainly not by upper management.

[DCKit]

4. It's gonna suck when they come around for their next handout. n/t