The Beneficence of Fan and Fred
Filed Under (Uncategorized) by on 08-08-2008
Tagged Under : politics
The Center for Responsive Politics gives 1.7 million reasons why these beasts are so tough to tame:
With Congress set to weigh in on the Federal Reserve and Treasury Department’s plan to rescue Freddie Mac and Fannie Mae, the increase in political contributions by the two corporations’ political action committees is receiving extra attention. Specifically, over the last two congressional cycles, PACs for both groups, which started donating in 2004, have contributed a combined $1,842,297 to federal candidates, according to data gathered by the Center for Responsive Politics.
Freddie and Fannie political spending takes many forms: The 2005 Center for Public Integrity PowerTrips investigation highlighted instances of Freddie and Fannie-sponsored travel in an examination of five-and-a-half years of congressional documents.
The Center found that during the period between January 1, 2000, and June 30, 2005, Freddie Mac paid $16,939.52 for 11 congressional staff trips. Fannie Mae nearly doubled that total, picking up the [...]
Tags: politics
