Category Archives: Schering PAC Hassan FEC Giving records in 2008 Bailout

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. . . .