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Biting the hand that feeds you.
Author: Raine    Date: 10/25/2010 13:27:12

This morning the Washington Post reports: Companies that received bailout money giving generously to candidates

Yes you read that correctly.
The political action committee formed by the company, which is now largely owned by 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.

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

It is not alone: Companies that received federal bailout money, including some that still owe money to 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 Assets Relief Program gave a total of $1.4 million to candidates in September, up from $466,000 the month before.
The article goes on to report:
The two top recipients of money from companies receiving TARP funds are the top two House Republicans, Minority Leader John A. Boehner (Ohio) with $200,000 and Republican Whip Eric Cantor (Va.) with $187,000. They are followed by the ranking members of two key House committees, Spencer Bachus (Ala.) on Financial Services and Dave Camp (Mich.) on the tax-writing committee.
The Open Congress Blog writes:
All four of these Republicans split from the majority of their party and voted in favor of the 2008 bailout. They also all voted against the financial reform bill that imposes new regulations on financial companies and attempts to prevent future bailouts. As far as the TARP recipients are concerned, these are their key allies for the next session — powerful Reps. who are most likely to lead their party against new regulations and in favor of more bailouts when the time comes.
Once again, we are seeing that the GOP is all about privatizing the profits and socializing the losses. The Tea Party - who thinks they are all about populism - have been tricked into believing that the GOP is going to represent them.

They are not. They are going to do their corporate Masters bidding, as has been evidenced by the Millions of dollars embued into the campaign by the US Chamber of Commerce, What we are seeing here is corporations that were SAVED by the government actions giving to the GOP because they KNOW more reform is coming down the pike. In the meantime, TAXPAYER money is being funneled into political campaigns from the very corporations we paid to bail out.

Don't count on the Tea Party being outraged about that though. The power of propaganda and misinformation is strong, as evidenced from this post from Open congress:
The most-viewed bill in the past few weeks is Rep. Chaka Fattah’s [D, PA-2] Debt Free America Act, which would replace the income tax with a new tax on all financial transactions, including paying with cash. The second most-viewed bill is Rep. Bobby Rush’s [D, IL-1] Blair Holt Firearm Licensing and Record of Sale Act, which would set up a nationwide gun licensing system and prohibit the ownership of unlicensed guns. As we’ve discussed several times on this blog, the attention paid to these bills is mainly the result of a gross misunderstanding of what bills in Congress are.

This bill-view data is just one illustration of how misinformation, propaganda and irrational fear drives politics. Of course, there’s nothing new about this. It stems from long-standing issues in our society — the inadequacy of our civics education programs, the corruption in government that leads to general mistrust, the failures of the mainstream media, and the lack of openness in government data that has stunted the development of online civic engagement.
bold face mine

It's a sad state of affairs in this nation, that is for sure. I refuse to sit back idly and let these people take the reigns again. No matter what we have now, it HAS to be better than what they gave us from 2000- 2008.

and

Raine





 

22 comments (Latest Comment: 10/26/2010 00:52:24 by trojanrabbit)
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