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Is the reason to not bail out Lehman Brothers political?

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mnhtnbb Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Sep-15-08 05:46 PM
Original message
Is the reason to not bail out Lehman Brothers political?
Edited on Mon Sep-15-08 05:48 PM by mnhtnbb
As hubby and I were watching PBS The News Hour with Jim Lehrer, we wondered whether the reason
to bail out Bear Stearns and Fannie Mae/Freddie Mac and NOT Lehman Brothers had anything to do with
politics.


So I went to my friend, google, and up came this story that:

Obama has raised a full $395,574 from employees and PACs of the now-bankrupt Lehman brothers, second only to Hillary Clinton.

Chris Dodd and Chuck Schumer did quite nicely, too; McCain is seventh among the firm's favorite pols (though its favorite Republican), having raised $145,100, according to OpenSecrets.org.

http://www.politico.com/blogs/bensmith/0908/Friends_of_Lehman.html

Is this a coincidence? Could it be that the Bushies are willing to let Lehman fail because
of politics?

Back in the primary season, I was not enamored of Obama, because I knew he had significant contributions
from players on Wall Street (which this story confirms). But could this non-bail out be a result
of that support?

I do know that there was absolutely NO discussion on The News Hour whether
this could be a political decision.

What else do we know?

On edit: sorry, forgot to add the link for the source of donations.

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Old and In the Way Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Sep-15-08 05:51 PM
Response to Original message
1. I think there's not much left for bailouts. First come, first served.
IOU's don't cut it.
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renie408 Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Sep-15-08 05:52 PM
Response to Original message
2. No, honestly they have to draw the line somewhere. If they bail out Lehman, then they have to bail
out Wamu and AIG and Morgan Stanley...etc. They have to stop somewhere.
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AndyA Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Sep-15-08 05:53 PM
Response to Original message
3. Bushco made/allowed jet airplanes to crash into buildings, so I wouldn't put anything past them.
Bush outed a covert CIA agent assigned to nuclear proliferation during a time of war.

Bush told lies to start a war on a sovereign nation, that has killed hundreds of thousands of innocent people.

So yeah, this is not beneath him.
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sandnsea Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Sep-15-08 05:54 PM
Response to Original message
4. I don't know - but
Hillary had more contributions from Lehman than Obama - and you had a problem with Obama????
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An Intellectual Donating Member (209 posts) Send PM | Profile | Ignore Mon Sep-15-08 05:57 PM
Response to Original message
5. No, it's just free-market worship; I believe Obama received the most from FM/FM.
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MiniMe Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Sep-15-08 06:16 PM
Response to Original message
6. Since a Bush cousin is heavily involved in Lehman...
It may be a move to avoid it looking like a family bailout.
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curious one Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Sep-15-08 07:35 PM
Response to Original message
7. Yes, yes and yes.
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mnhtnbb Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Sep-15-08 09:05 PM
Response to Reply #7
8. Do you have any info that would support your affirmations?
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