Tuesday, September 30, 2008

How are those 2008 Republican Donations Workin' Out for Ya', Mr. Hassan?

As this blog had noted as early as May 1, 2008, Schering-Plough generally, and Fred Hassan particularly, is giving far more (almost 11 to 1, as of March) to Republican candidates than Democratic ones, in the 2008 election cycle -- bucking an important trend reversal at other big pharma companies, at least for this cycle -- especially notable at companies like Johnson and Johnson (where giving has completely flip-flopped, this year -- now showing a 60 to 40 clip to Democrats, over Republicans, in 2008).

Schering and Hassan? They are (presently) giving about 60 to 40 -- to Republicans, over Democrats, per an Ed Silverman piece, of last week.

Thus I find it truly ironic, and delicious, to learn that Bloomberg is quoting Schering-Plough CEO Hassan this morning -- on the morning after 134 (that total including one Republican, Weller, who failed to cast any vote, as a "No") 195 Republicans in the House voted "No" to the Latest Bi-Partisan Compromise Amendment to the Original Paulson Bailout Plan -- woefully lamenting the "mess" his candidates have made of these attempts to right our domestic financial system, thus:

. . . ."It is a pity that this has developed into such a mess," said Fred Hassan, chief executive officer of drugmaker Schering- Plough in Kenilworth, New Jersey. "The probability of recession has gone up". . . .

Regardless of whether one believes this bailout fund was the "right approach" -- given Mr. Hassan's comments of this morning -- I must observe that it looks like his (and Schering's) money wasn't very well-spent, there, partner. . . .

1 comment:

Anonymous said...

This is half entertaining. But then again I am very high right now