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Government Motors is filling campaign coffers
by TexasBlue Thu Sep 23, 2010 7:31 pm
Government Motors is filling campaign coffers
Tom Fitton
Washington Examiner
September 21, 2010
So much for GM’s self-imposed ban on political contributions.
According to The Washington Post:
"General Motors reported making $47,000 in contributions to lawmakers and congressional candidates in July, the first it has made since November 2008. The company stopped giving through its political action committee just as it began to seek government assistance to stay in business.
"The U.S. government provided support but also steered the company through bankruptcy. Today, the Treasury owns a 60 percent stake in the company, which recently announced plans to go public with a stock sale."GM earlier gave $41,000 to groups and causes associated with lawmakers. The latest contributions were made directly to lawmakers’ campaigns."
The Post notes the fact that GM is spreading the wealth around to both political parties: $26,000 to Republicans and $21,000 to Democrats. I found for you the list of the GM PAC recipients from the Federal Election Commission:
I checked with a spokesman for the Corporation for Public Broadcasting (CPB), another “private” corporation funded and controlled by the federal government. He told me that CPB does not have a PAC.
You may recall I called attention to another conflict of interest when the government provided a $527 million loan to the auto company Fisker, which then used the funds to purchase a former GM plant. (Vice President Joseph Biden was also caught up in the controversy, as the plant is located in Delaware, Biden’s home state. Read more here.)
While the political activities of GM are particularly offensive given the government’s considerable ownership stake, other companies bailed out with taxpayer dollars also continue to fill the political coffers according to Fox News:
"Several companies that escaped financial failure two years ago through massive taxpayer-funded bailouts are spending millions of dollars to make donations to political causes and even some candidates’ campaigns.
"General Motors, Chrysler and Citigroup are just three of the biggest bailout recipients who have continued to remain politically active, through their political action committees, federal lobbying or direct donations to the pet projects of lawmakers."
Getting back to GM, its ban on political contributions ought to be made permanent, at least until such time as the government has relinquished its ownership stake. Politicians on both sides of the aisle, such as Rep. Eric Cantor (R-VA) and Sen. Chuck Schumer (D-NY), who received GM PAC contributions, should return them immediately.
Government corporations giving money to politicians to help them run for government office: Does it get any more corrupt than that?
Tom Fitton is president of Judicial Watch.
Tom Fitton
Washington Examiner
September 21, 2010
So much for GM’s self-imposed ban on political contributions.
According to The Washington Post:
"General Motors reported making $47,000 in contributions to lawmakers and congressional candidates in July, the first it has made since November 2008. The company stopped giving through its political action committee just as it began to seek government assistance to stay in business.
"The U.S. government provided support but also steered the company through bankruptcy. Today, the Treasury owns a 60 percent stake in the company, which recently announced plans to go public with a stock sale."GM earlier gave $41,000 to groups and causes associated with lawmakers. The latest contributions were made directly to lawmakers’ campaigns."
The Post notes the fact that GM is spreading the wealth around to both political parties: $26,000 to Republicans and $21,000 to Democrats. I found for you the list of the GM PAC recipients from the Federal Election Commission:
I checked with a spokesman for the Corporation for Public Broadcasting (CPB), another “private” corporation funded and controlled by the federal government. He told me that CPB does not have a PAC.
You may recall I called attention to another conflict of interest when the government provided a $527 million loan to the auto company Fisker, which then used the funds to purchase a former GM plant. (Vice President Joseph Biden was also caught up in the controversy, as the plant is located in Delaware, Biden’s home state. Read more here.)
While the political activities of GM are particularly offensive given the government’s considerable ownership stake, other companies bailed out with taxpayer dollars also continue to fill the political coffers according to Fox News:
"Several companies that escaped financial failure two years ago through massive taxpayer-funded bailouts are spending millions of dollars to make donations to political causes and even some candidates’ campaigns.
"General Motors, Chrysler and Citigroup are just three of the biggest bailout recipients who have continued to remain politically active, through their political action committees, federal lobbying or direct donations to the pet projects of lawmakers."
Getting back to GM, its ban on political contributions ought to be made permanent, at least until such time as the government has relinquished its ownership stake. Politicians on both sides of the aisle, such as Rep. Eric Cantor (R-VA) and Sen. Chuck Schumer (D-NY), who received GM PAC contributions, should return them immediately.
Government corporations giving money to politicians to help them run for government office: Does it get any more corrupt than that?
Tom Fitton is president of Judicial Watch.
TexasBlue
Re: Government Motors is filling campaign coffers
by dblboggie Thu Sep 23, 2010 10:12 pm
No, it does not get any more corrupt than that. I should hope these politicians would return these "contributions." But I am not holding my breath.
dblboggie
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