Investment bank Lehman Brothers, who is filing Chapter 11 bankruptsy today, gave Sen. Barack Obama much more in campaign donations than they donated to Sen. John McCain.
According to Reuters:
Both presidential candidates have gotten a lot of money from Lehman employees -- Democratic candidate Barack Obama to the tune of at least $370,000, and Republican John McCain, $117,000 -- according to the nonpartisan, nonprofit Center for Responsive Politics. In the 2008 election cycle, Lehman political action committees, employees and their immediate family members have given $1.9 million to all federal candidates, said the center, which posts its campaign finance data at www.opensecrets.org.
Lehman donors ranked fourth on Wall Street in total 2008 campaign giving, trailing Goldman Sachs Group Inc, Morgan Stanley and UBS AG, the center said.
"If Lehman Brothers needs a helping hand from the federal government, they know who to call," Sheila Krumholz, the center's executive director, told Reuters.
"Like nearly every bank on Wall Street, Lehman and its employees have been major financial supporters of lawmakers, who may now feel compelled to return the favor," she said.
Lehman donors have sent 64 percent of their 2008 donations to Democrats and 36 percent to Republicans, the center said.
As Lehman Brothers has now filed bankruptsy, maybe they should have saved their money.
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