Tuesday, April 20, 2010

Barack Obama as the Candidate 2008 – Top Donor: Goldman Sachs


Barack Obama with Goldman Sachs Execs - from article: "Obama doesn't 'begrudge' big bonuses given to Goldman Sachs' Blankfein, JPMorgan Chase's Dimon Feb 10th 2010 NY Daily News


From: Open Secrets.org: The candidate, Barack Obama, had some interesting donors to his 2008 presidential campaign. In order:
  • University of California $1,591,395

  • Goldman Sachs $994,795

  • Harvard University $854,747

  • Microsoft Corp $833,617

  • Google Inc $803,436

  • Citigroup Inc $701,290

  • JPMorgan Chase & Co $695,132

  • Time Warner $590,084

  • Sidley Austin LLP $588,598

  • Stanford University $586,557

  • National Amusements Inc $551,683

  • UBS AG $543,219

  • Wilmerhale Llp $542,618

  • Skadden, Arps et al $530,839

  • IBM Corp $528,822

  • Columbia University $528,302

  • Morgan Stanley $514,881

  • General Electric $499,130

  • US Government $494,820

  • Latham & Watkins $493,835



  • From Open Secrets: Disclosure:

    *This table lists the top donors to this candidate in the 2008 election cycle. The organizations themselves did not donate , rather the money came from the organization's PAC, its individual members or employees or owners, and those individuals' immediate families. Organization totals include subsidiaries and affiliates.
    Because of contribution limits, organizations that bundle together many individual contributions are often among the top donors to presidential candidates. These contributions can come from the organization's members or employees (and their families). The organization may support one candidate, or hedge its bets by supporting multiple candidates. Groups with national networks of donors - like EMILY's List and Club for Growth - make for particularly big bundlers.



    That aside, several of the top donors to the, then candidate, Barack Obama, made or have made headlines during and after the campaign, most notably Goldman Sachs. However, what of Citigroup and Morgan Stanley? – This is of interest mainly due to the “pickle” Goldman Sachs finds themselves in at the moment – the Drudge Report asks if Obama will return the campaign donations from Goldman, however, in reviewing the list of contributors to John McCain’s Presidential campaign, many of the same names appear, granted, in much smaller amounts: From Open Secrets

  • Citigroup Inc $322,051

  • Morgan Stanley $273,452


  • Goldman Sachs $230,095






  • It is the disparity in amount of contributions between the two candidates that is startling – one can understand say, Harvard, or the University of California (why is the tuition so very high at certain universities? – therein lays the answer) If both candidates were to return donations from Goldman Sachs and or any of the firms that used American Tax Payers dollars to “survive” it should be returned to the government coffers and put towards the deficit (granted drop in the bucket), but speculating upon the disparity in amounts donated to the two campaigns, one can understand where these Banking and Mortgage Giants may have thought they’d get the best deal.

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