The Real Reason Lehman brothers not bailed out
Hello,
I haven't wanted to be involved in politics but i can't hold my tongue anymore. Here is the real reason why Lehman brothers wasn't bailed out. This company also contributed to non-profit health agencies also. So what is this governments stance? Get rid of affordable health care by cutting down the companies that donate? Read this
http://www.reuters.com/article/idINN1127961720080911?sp=true
By Kevin Drawbaugh
WASHINGTON (Reuters) - Lehman Brothers Holdings Inc is a big player
in donating to political campaigns, which could be a plus if the
struggling investment bank needs federal help, said a watchdog group on
Thursday.
Lehman shares fell 42 percent on investor fears about the company's
future, with its chief executive scrambling to sell assets to cover
devastating real estate market losses.
Both presidential candidates have gotten a lot of money from Lehman employees -- Democratic candidate Barack Obama to the tune of at least $370,000, and Republican John McCain, $117,000 -- according to the nonpartisan, nonprofit Center for Responsive Politics.
Speculation was making the rounds on Capitol Hill on Thursday about
whether the government would come to Lehman's rescue, fueled by
Sunday's federal takeover of mortgage giants Fannie Mae and Freddie Mac
and the government-engineered rescue of Bear Stearns earlier this year.
House Speaker Nancy Pelosi, a California Democrat, told reporters on
Thursday, "I'm hoping that Lehman Brothers will turn around. People
that I talk to say they think that it will."
In the 2008 election cycle, Lehman political action committees,
employees and their immediate family members have given $1.9 million to
all federal candidates, said the center, which posts its campaign
finance data at www.opensecrets.org.
Lehman donors ranked fourth on Wall Street in total 2008 campaign
giving, trailing Goldman Sachs Group Inc, Morgan Stanley and UBS AG,
the center said.
"If Lehman Brothers needs a helping hand from the federal
government, they know who to call," Sheila Krumholz, the center's
executive director, told Reuters.
"Like nearly every bank on Wall Street, Lehman and its employees
have been major financial supporters of lawmakers, who may now feel
compelled to return the favor," she said.
Lehman donors have sent 64 percent of their 2008 donations to Democrats and 36 percent to Republicans, the center said.
The company is also on track to spend approximately $800,000 on
lobbying this year, with most its political influence work focused on
tax and housing issues, the center said.
Lehman shares closed down $3.03 to $4.22 on the New York Stock
Exchange, climbing from lower levels near the end of trading on a
report about a possible buyout bid from Bank of America Corp.
(Additional reporting by Richard Cowan; editing by Jeffrey Benkoe)


Searching other contributions
Fannie Mae and Freddie Mac 2008 contributions total around 3 million 51% Democrat and 49% Repulican. Couldn't find 2006 or earlier quotes.
Bear and Stearns contirbution 75% Republican and 25% Democrat 2004 and 2006. Reversed for 2008 contributions, of course after bailout to try not to arouse suspicion?