The Mudcat Café TM
Thread #119733   Message #2598885
Posted By: artbrooks
27-Mar-09 - 06:23 PM
Thread Name: BS: Dble Standards= Banks to PAC Donations
Subject: RE: BS: Dble Standards= Banks to PAC Donations
Ebbie, while this may be - or actually is - a problem, I think its important to make a distinction. It is flat-out illegal for companies to give money to politicians.   On the other hand, corporation employees can establish political action committees, and the PACs can give to candidates. The amounts individual employees can give are limited, but (as far as I know) there are no restrictions as to the employee's place in the corporate hierarchy. It isn't correct to say that this was a direct payment from TARP-recipient banks to these politicians, and the bank had better not be found to have reimbursed the individual contributions from corporate funds. On the other hand, of course, these people aren't exactly underpaid, even if they end up having to return their bonuses.