There is a strange double standard in President-elect Obama’s largesse with the public purse when it comes to Wall Street’s banks and insurance companies as compared to his more exacting stance toward bailing out the U.S. auto industry. In his December 7, 2008 interview with Meet the Press he set conditions for an auto industry bailout, but said nothing about setting similar conditions for the financial sector.
A quick trip to maplight.org reveals the following list of top ten interest areas that have contributed to Obama's Senate accounts.
Total Campaign Contributions Received: $350,573,336
Top 10 Interests Funding
Attorneys & law firms $37,193,295
Schools & colleges $15,955,408
General commerce $12,306,371
Security brokers & investment companies $6,946,172
Civil servant/public employee $6,353,080
Business services $5,995,808
Book, newspaper & periodical publishing $5,392,514
Contributions from political parties and from other candidates are not included in top 10 lists.
The obvious answer to Mr. Hudson's point is the Security brokers and Investment companies sitting there at 5th on the list, while the auto makers don't make the top ten. Detroit has obviously gotten behind on their bribe, uh contribution, payments.
The reason why Wall Street and Detroit aren't treated the same is rather obvious. Follow the money, and it will reveal much if not all you need to know about politics in DC.