Financial Bailout: Who does Bachus see at his fundraisers?
By Bill Allison Sep 24 2008 3:27 p.m.Among Rep. Spencer Bachus's top career donors are employees, their family members and PACs of the following players in the nation's financial meltdown: J.P. Morgan Chase & Co. (which bought Bear Stearns), Credit Suisse Group (which misled some investors about its auction rate securities), UBS AG (which hopes the bailout will include foreign banks), the National Assn of Realtors (working to "assure a robust secondary mortgage market"), Citigroup Inc ("written off and lost $53.6 billion through the credit crunch so far, which is more than any other bank or broker,"), Bank of America (acquired Merrill Lynch and Countrywide Financial, once the largest mortgage lender in the U.S.), American Bankers Association (wants Fannie Mae and Freddie Mac to continue paying dividends, despite going bust), Credit Union National Association (members are included in any bailout plan) and Regions Financial (acquired healthy part of distressed bank thanks to FDIC).
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