The biggest contributors include:
University of California $909,283
Goldman Sachs $874,207
Goldman Sachs is one of Wall Street’s most prestigious investment banks. Like others in the securities industry, it advises and invests in nearly every industry affected by federal legislation. The firm closely monitors issues including economic policy, trade and nearly all legislation that governs the financial sector. It has been a major proponent of privatizing Social Security as well as legislation that would essentially deregulate the investment banking/securities industry. In August 2002, following months of corporate scandals, congressional investigators launched a probe into whether stock analysts at Goldman Sachs issued biased investment advice in order to protect corporate clients. The firm tends to give most of its money to Democrats. For example, in 2008 Democrats received funding 73% of the time, Republicans, 27%. Goldman Sachs' former chief executive, Jon Corzine, served in the U.S. Senate as a Democrat from New Jersey. He's now the state's governor.
Harvard University $717,230
Microsoft Corp. $714,108
Microsoft Corp is the world’s top computer software company. It is also one of the biggest campaign contributors in Washington—an astounding fact when you consider that Microsoft is a relatively new player on the political scene. Prior to 1998, the company and its employees gave virtually nothing in terms of political contributions. But when the Justice Department launched an antitrust investigation into the company’s marketing of its popular Windows software, things changed. The company opened a Washington lobbying office, founded a political action committee and soon became one of the most generous political givers in the country. The move eventually galvanized an entire industry, as computer and Internet companies quickly moved to emulate Microsoft’s political savvy.
Google Inc. $701,099
JPMorgan Chase & Co. $581,460
JP Morgan Chase & Co is one of the nation’s leading financial services firms, offering commercial and consumer banking and credit services, securities brokering and financial consulting. Through its subsidiary Chase Bank, the company is one of the top consumer credit card issuers in the country. As expected, the firm has lobbied heavily on legislation that would affect the nation’s financial industry, including bankruptcy reform and banking deregulation. In 2002, federal investigators launched a probe into the firm’s relationship with former energy giant Enron. Prior to the energy firm’s collapse, JP Morgan Chase had been one of the company’s biggest financial backers.
Citigroup Inc. $581,216
Citigroup is the world’s second largest financial services firm, with $1 trillion in assets. One of the company’s subsidiaries is brokerage firm Salomon Smith Barney, which has been plagued with lawsuits and government investigations into its financing of bankrupt Enron and ailing WorldCom. In 1998, Citigroup’s lobbying helped repeal a federal law that prevented banks from getting into other businesses, allowing the company to acquire an insurance firm. Citigroup continues to lobby on a number of issues, including financial privacy, bankruptcy reform and terrorism reinsurance.
National Amusements Inc. $543,859
Time Warner $508,148
America Online and Time Warner merged in 2001 to create one of the largest media companies in the world. The new colossus owns dozens of subsidiaries, including online services, print and broadcast news organizations, cable television companies, movie studios, music companies and publishing houses. Time Warner also owns the Atlanta Braves baseball team, as well as basketball and hockey teams. With so many business interests, the company lobbies on a number of different issues, but right now its biggest concern is over the rules governing television ownership. The company wants the government to relax the rules prohibiting cable television stations from also owning broadcast stations in the same market.
Sidley Austin LLP $492,445
Stanford University $481,199
Skadden, Arps et al $473,424
Wilmerhale Llp $466,679
UBS AG $454,795
Latham & Watkins $426,924
Columbia University $426,516
Morgan Stanley $425,102
Morgan Stanley is one of the world’s top investment banks, offering its clients everything from stock portfolio management to credit services. Like others in the securities industry, it invests in and advises virtually every industry affected by federal legislation. The company, which splits its contributions evenly between Democrats and Republicans, has been a major proponent of privatizing Social Security. Morgan Stanley also has lobbied in favor of proposals to deregulate the securities industry, so that investment firms can further extend their reach into financial services.
IBM Corp $415,196
University of Chicago $414,555
US Government $400,819
Data was accumulated by Opensecrets.org.
OpenSecrets.org is your nonpartisan guide to money’s influence on U.S. elections and public policy. Whether you’re a voter, journalist, activist, student or interested citizen, use our free site to shine light on your government. Count cash and make change.
Cf. http://www.opensecrets.org/index.php
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