Goldman Sachs Donations Plummet

By Jake Sherman
|  Saturday, May 22, 2010  |  Updated 9:30 AM EDT
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Goldman Sachs Donations Plummet

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Goldman Sachs Chairman and CEO Lloyd Blankfein

As Congress pressed ahead with sweeping financial regulatory reform in April, Goldman Sachs’ political giving went virtually dark.

The Wall Street financial giant’s political action committee, which dished out $280,000 to politicians from both parties March, made one donation of $15,000 in April, according to a campaign finance report filed with the Federal Election Commission this week. The Securities Exchange Commission also launched an investigation into Goldman Sachs trading last month.

The one Goldman donation was made to the Democratic Senatorial Campaign Committee on April 6. The National Republican Senatorial Committee recieved the same amount on March 31, a donation that appeared in last month’s filing.

Not only has Goldman cash stopped flowing, seven lawmakers returned $16,500 to the firm’s political action committee in April.

A spokesman for Rep. G.K. Butterfield (D-N.C.) said he “felt uncomfortable taking” a $1,000 check that he got from the firm on April 20.

A spokesman for Goldman declined to comment on the pace of political giving and the returned contributions.

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