Lehman CEO Contributed Heavily to Democrats – Will Media Notice?
You would think what donors are cozy with which campaigns - especially in the midst of a presidential election cycle - might be a relevant story for the media, especially at a time when everyone is quick to point fingers at which political party is to blame for financial turmoil.
When Lehman Brothers CEO Richard Fuld testified before the House Oversight Committee Oct. 6, the media criticized his wealth and spending amidst financial turmoil in his company and on Wall Street. But conspicuously missing was the story of Fuld's political contributions.
According to the Center for Responsive Politics, Fuld has donated to Democratic candidates over Republican candidates by a margin of almost 5-to-1 in the last 15 years. He has given $106,400 to Democratic candidates and political action committees (PACs), and just $22,800 to Republican candidates and PACS dating back to 1993.
What did they focus on instead? "NBC Nightly News" took the populist approach and focused on the embattled former CEO's compensation.
"But members of Congress noted that Fuld remains a wealthy man," NBC correspondent Lisa Myers said on the Oct. 6 "Nightly News." "He collected $342 million as CEO over 14 years. He owns a $21 million apartment in New York City, an $8 million estate in Connecticut and a $13 million estate in Florida."