While some bailed-out banks, such as Wells Fargo and JP Morgan Chase, have reduced their campaign donations, others have discreetly made donations this year, Newsweek reported. Bank of America's political action committee (PAC) gave $24,500 in January and February, "including $1,500 to House Majority Leader Steny Hoyer and another $15,000 to members of the House and Senate banking panels," the weekly news magazine said...
Citigroup, which has received a total of $45 billion in federal aid, donated $29,620 to members of Congress, including $2,500 to House GOP Whip Eric Cantor. In February, the U.S. government boosted its stake in the troubled financial firm to 36 percent – a move that aimed to avoid nationalization of Citi, once the world's biggest financial firm. Analysts said the conversion gave the government effective control as the bank's largest shareholder...
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My thoughts: We have the best politicans money can buy.
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