Bailed-Out Companies Not Returning the Favor


If President Obama was hoping to recoup some bailout money in the form of donations, he’s not going to like this. The president will host a fundraiser at New York’s Mandarin Oriental Hotel tonight with the tycoons in attendance shelling out $30,400 a head. And though lots of those in attendance will be from the finance industry, few come from Goldman Sachs, JPMorgan Chase and Citigroup, three companies that received large chunks of bailout money. The reason they’re staying away: to avoid the perception of impropriety. “There are sensitivities there,” a financial industry lobbyist told the Times. Political contributions “can make a donor a target.” And when you already have the blood of the failed economy on your hands, the last thing you want is to become a target.

Financial Giants Donating Little to Obama Party [NYT]