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Liberalism Never Sleeps

December 16, 2008
Matthew Vadum

Businesses that politicians deem vital to the national interest aren’t being allowed to fail in America today, and the bigger they are, the more help they get from the government. So it’s not much of a surprise that the fine points of yet another bailout package are being worked out behind closed doors, this time for Citigroup.

Again, not surprisingly, the latest recipient of government largess is a big donor to political candidates and parties. It’s the 15th largest corporate giver, according to the Center for Responsive Politics, donating $25.1 million since 1989 in roughly even portions to the two parties. When Citigroup begged for taxpayer help, the Bush administration and congressional leaders took the call. Don’t expect a policy change from President-elect Obama’s incoming Secretary of Bailouts, Tim Geithner, and Larry Summers, soon to be head of the National Corporate Welfare Council.

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