Goldman Fills Political Warchests

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    NEWSLETTERS

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    Goldman Sachs Chairman and CEO Lloyd Blankfein

    Goldman Sachs’ political action committee dished out nearly $300,000 to lawmakers’ campaigns and their PACs in March, with more going to Republicans than Democrats, federal campaign filings released Tuesday show.

    The Goldman Sachs Group Political Action Committee shelled out $167,500 to Republican candidates and political entities and $123,000 to Democrats.

    Such numbers may temporarily bolster Democrats’ claim that Republicans are more cozy with big Wall Street firms, but the reality is that the Wall Street giant spread its campaign donations to lawmakers from all ends of the spectrum, giving money to everyone from liberal Rep. Bobby Rush (D-Ill.) to conservative Sen. Jim DeMint (R-S.C.).

    The New York based investment bank’s dealings with Washington insiders has come under increasing scrutiny over the last days because of a Securities and Exchange Commission lawsuit filed by the government filled with allegations of fraud. The financial reform overhaul has also increased the spotlight on Goldman, as Democrats have attacked Wall Street in their effort to push the financial legislation.

    Among the players that got money in March from Goldman include legislators intricately involved with financial services overhaul are Senate Majority Leader Harry Reid (D-Nev.), who is leading the charge on Wall Street reform in the Senate this week. Reid received $5,000 in donations.

    Rep. Spencer Bachus (R-Ala.), the top Republican on the House Financial Services committee, got $5,000 for his Growth and Prosperity PAC.

    House Minority Leader John Boehner (R-Ohio) and his Freedom Project PAC were the recipients of $5,000 a piece from Goldman.

    Rep. Jeb Hensarling (R-Texas), a key member of the House Financial Services committee, got $7,000 for his reelection campaign and another $5,000 for his PAC, Jobs, Economy and Budget Fund.

    Goldman’s PAC gave the National Republican Senatorial Campaign and the National Republican Congressional Committee $15,000 a piece.

    Senate Minority Whip Jon Kyl (R-Ariz.) and Sen. John Thune (R-S.D.) got $2,500 a piece for their respective PACs.

    Rep. Paul Ryan (R-Wisc.) got $5,000 for his reelection effort.

    New York’s Democratic Sen. Kirsten Gillibrand, Montana Sen. Max Baucus’ (D) PAC, and House Minority Leader Steny Hoyer’s (D-Md.) PAC. JAZZ PAC, Sen. Mary Landrieu's (D-La.) committee also recieved $5,000.

    Sen. Blanche Lincoln (D-Ark.), who said she would not return Goldman money, got $2,000 in March.

    Sen. Mark Warner (D-Va.), a Banking committee member involved with crafting Senate overhaul legislation, got $2,000 from Goldman's PAC.

    PAC reports, filed monthly, do not paint the full picture of contributions given to lawmakers from those related to corporate entities. For example, Goldman employees donate to its PAC, which then donates to candidates. Employees can alternatively donate directly to a candidate of their choosing.