Despite being bailed out by the government—and, in some cases, still owing money to the government—many companies are donating heavily to candidates. And many of those candidates are Republicans, even though it was mostly Democrats who supported the TARP program, the Washington Post reports. The 23 companies that received $1 billion or more through TARP gave $1.4 million to candidates last month alone.
A spokesperson for GM, which donated $190,000 to campaigns over the past month, says its PAC is funded by voluntary employee contributions, and insists they give “equally to both parties’ leadership.” It’s possible, however, that companies are being more generous with Republicans because Democrats are pushing for financial regulation legislation. Oddly, even Republicans who are decrying the bailout are getting money: One GOP candidate whose ads criticize his opponent for supporting “the disastrous bank bailout” has received more than $30,000 from companies that took some of the bailout money—his opponent has received none.
(More auto bailout stories.)
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