The best candidates special interest money can buy or "Who Owns Whom?"
Special thanks to the Center for Responsive Politics for existing, and to Matt Collins for doing the research on it.
Top 10 Corporate PAC Contributors:
Obama:
Goldman Sachs $739,521
UBS AG $419,550
Lehman Brothers $391,774
Citigroup Inc $492,548
Morgan Stanley $341,380
Latham & Watkins $328,879
Google Inc $487,355
JPMorgan Chase & Co $475,112
Sidley Austin LLP $370,916
Skadden, Arps et al $360,409
McCain:
Merrill Lynch $349,170
Citigroup Inc $287,801
Morgan Stanley $249,377
Wachovia Corp $147,456
Goldman Sachs $220,045
Lehman Brothers $115,707
Bear Stearns $108,000
JPMorgan Chase & Co $206,392
Bank of America $133,975
Credit Suisse Group $175,503
Categories: Presidential Race, Election News
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Showing comments 1—47 of 47
Posted 10/05/08 1:23 PM
Matt Collins
Antioch, TN | Does this make you mad? It makes me FURIOUS!
We have two whores who are running for the presidency. Those who vote for either Obama or McCain perpetuate this special interest nonsense. Those who vote for Obama or McCain are part of the problem because they will be approving of these unconstitutional actions by giving them your vote.
If you are liberal consider voting for Nader or Cynthia McKinney instead. If you are conservative consider voting for Chuck Baldwin of the Constitution Party or Bob Barr of the Libertarian Party.
Regardless, please send this eye-opening information around to everyone you know who plans to vote so that they will know there really is no difference between McCain and Obama. They are two cheeks on the same ass. A vote for them is a vote for more of the same. If you want real change vote for someone who isn't going to whore themselves out and continue to rape the American taxpayer.
-Matt Collins
Nashville, TN
ps- Thanks to Don for posting this! |
Posted 10/05/08 1:52 PM
Cosmo
Coos Bay, OR | Yes, thank you for posting this. I actually went to the CRP's website the other day to look up these exact figures...but the website was down. Surprising, eh? |
Posted 10/05/08 2:41 PM
Travis815
Cumming, GA | I'm curious as to why corporations like Citigroup and Goldman Sachs donate vast sums of money to both candidates.. |
Posted 10/05/08 3:06 PM
Ricky201
North Bend, WA | Ugh. Greed has no party. |
Posted 10/05/08 3:31 PM
John Dishon2
Bowling Green, KY | This is misleading. I found this other article from the same website which says Obama only has $450 from PACc, meaning all that which is reported above reflects individual donations.
http://www.opensecrets.org/pres08/summary.php?cycle=2008&cid=N0000 9638
And McCain's is here:
http://www.opensecrets.org/pres08/summary.php?cycle=2008&cid=N00006424 |
Posted 10/05/08 4:20 PM
Philip
State College, PA | Rent Seeking - In economics, rent seeking occurs when an individual, organization or firm seeks to make money by manipulating the economic and/or legal environment rather than by trade and production of wealth.
http://en.wikipedia.org/wiki/Rent-seeking
The theory is usually credited to Gordon Tullock. I took a course from Mr. Tullock and he is a bright guy. His best best quote from our class... "I may not have the answers, but you're not even asking the questions!" |
Posted 10/05/08 4:35 PM
lolatwinmom
Leawood, KS | Corporations operating in American Samoa - $33 million in pork in bailout package
PELOSI CONNECTION:
*Largest employer in Samoa is Starkist
*Starkist's parent company is Del Monte
*PAUL PELOSI (Nancy's husband) has a 17 million share interest in Del Monte
*Del Monte is headquartered in San Francisco
Check out the following links regarding Pelosi's "special interest in American Samoa" . Very interesting
http://urbangrounds.com/2007/01/15/pelosi-smells-fishy/ |
Posted 10/05/08 5:05 PM
jonnyh
Seoul, Korea (south) | Now I see in what sense the Obama folks are using the word CHANGE:
"Got any spare CHANGE, Mr. Big Banker?"
And Maverick McCain fighting big money? Right. |
Posted 10/05/08 5:19 PM
Matt Collins
Antioch, TN | A video of this is here:
http://www.youtube.com/watch?v=bxFVbVR_xl4 |
Posted 10/05/08 5:29 PM
Mosaic
Lyons, KS | Rediculous, absurd, etc.... |
Posted 10/05/08 5:45 PM
ferroz
Austin, TX | How reliable is the info. because even the information said that it doesn't come from the organizations itself but from their PAC's and individual employees? I trust it but I want to make sure it's right before trying to break the bad news to my brainwashed friends. |
Posted 10/05/08 5:45 PM
lolatwinmom
Leawood, KS | I must have called over 100 congressmen, and e-mailed as many, regarding the CDS market and the TRILLIONS it could put on the books of the US if Paulson were allowed to "buy" (assume responsibility for) these. It was so frustrating, I felt I was treated like a crazy person.
Tonight, 60 Minutes did a piece on that very subject, DAY LATE DOLLAR SHORT.
Here is the link
http://www.cbsnews.com/stories/2008/10/05/60minutes/main4502454.shtml
|
Posted 10/05/08 5:59 PM
dutch
Choctaw, OK | http://uk.youtube.com/watch?v=P-PxA5nUjkg |
Posted 10/05/08 6:00 PM
GeneLouis
Hamilton, NJ | All campaign donations must be restricted to those who can qualify to vote. If enacted, that restriction would prevent fictitious entities (ala International Corporations) from voting with dollars that can drown out true votes that lead to true representation. That might lower the amount of money available to run elections but that would be a good thing. Candidates need to shake hands with voters, not hypnotize the public with empty words and pretty pictures.
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Posted 10/05/08 6:45 PM
Maverick
Eatontown, NJ | This is an interesting find to say the least. |
Posted 10/05/08 6:47 PM
WILL WORK FOR PEACE
Idaho falls, ID | Philip,
I like this one:
"Regulatory capture is a related concept which refers to collusion between firms and the government agencies assigned to regulate them, which is seen as enabling extensive rent-seeking behavior, especially when the government agency must rely on the firms for knowledge about the market."
Steven Horwitz: "... the very firms who are going to be regulated will be first in line to determine how those regulations get written and enforced."
from: An Open Letter to my Friends on the Left
http://myslu.stlawu.edu/~shorwitz/open_letter.htm
|
Posted 10/05/08 6:55 PM
Buster
Las Vegas, NV | That's great information can you provide the top 50 contributors for each candidate? Great work so far keep it up. |
Posted 10/05/08 7:04 PM
iowamichelle
Ankeny, IA | I can't believe that video, dutch -- he did exactly what he said not to do! -- "committed malpractice," according to him! And when he said "until the American people keep this body [of Congress] accountable..." -- we're trying & they're ignoring us! sigh... |
Posted 10/05/08 7:19 PM
helen in NC
Summerfield, NC |
To the staff at C4L:
Ok,
I know that someone will ask me, so I may as well ask YOU guys at C4L.
Who were Ron Paul's top PAC contributors. Don't throw tomatoes at me.....I am just being anticpatory. When I pass along this info on contributors above, it will be ask.....I'd rather be prepared. |
Posted 10/05/08 7:33 PM
Cosmo
Coos Bay, OR | Hmmm...I'm a little confused on how to interpret the data. When you look on Ron Paul's summary page, his top contributing organizations mention no banking/finance firms at all. But when you look at the bailout spreadsheet listing top recipients of finance industry contributions, he is the first Congressman listed (with Charlie Rangel, ironically and/or ominously, listed second).
This leads me to believe that either his finance industry contributions came from individuals who happened to work in the finance industry--although I see no practical difference and still don't like the idea at all--or that I am just not reading these stats correctly. Any organization that gives collectively has to "bundle" donations, so I'm not sure how that plays into it either.
Basically, I'm asking someone to reassure me that Dr. Paul is not really the #1 recipient of corporate buy-off money. |
Posted 10/05/08 7:37 PM
Cosmo
Coos Bay, OR | Okay...now I looked up the top recipients of finance-sector PAC dough, and Ron Paul is not anywhere on the list...although Bailout Champions John Boehner and Barney Frank are right up there at the top. This seems to make more sense, but I still don't understand the difference between PAC donations from a particular industry and the "overall" donations from that same industry. |
Posted 10/05/08 9:43 PM
rv36116
Fort Worth, TX | I posted it on Digg.com!
Great info to see!
http://www.700billiondollarparkinglot.com
http://digg.com/2008_us_ele ctions/The_best_candidates_special_interest_money_can_buy |
Posted 10/05/08 10:50 PM
rbhill
Fresno, CA | Why does it matter if Ron Paul gets money from financial firms? The only thing that matters is his voting record. If you look at that (its practically all nos...) its clear that he's not controlled by any special interests. |
Posted 10/06/08 12:06 AM
Ex Post Facto
Concord, NC | Oh...this just makes sense now. I bet we find out that all the bank employees mailed and called congress to vote yes on the bailout. To think during the first vote and the entire week leading to the vote it was 9/1 against the bailout. Then in a 2-day span between votes, after all were totalled, it was just about even. |
Posted 10/06/08 02:38 AM
Break your chains
Byron, GA | Helen in NC:
I'm thinking that if Ron Paul's PAC got any contributions from corporations, it was for the right reasons.
They'd know that Ron Paul supports a true free market economy— which, there's nothing wrong with suppporting that. Besides, most people should know by now that Dr. Paul is not going to do anything contradictory to the U.S. Constitution; If corrupt corporations are looking for a 'wink and a nod,' they're not going to get it from him. :)
All those companies on this list are most-likely looking for special favors from Government. They want some of the numbers of the scorecard smudged, so that they can claim to win the game when the smoke clears. Our government is more than happy to oblige. |
Posted 10/06/08 02:46 AM
Break your chains
Byron, GA | Maybe not, "all" of those companies. That was unfair of me to say. But, I recognize some of those names of troubled companies, and I can make a good guess as to which politicians walked away with the fattest wallets. |
Posted 10/06/08 04:41 AM
MarilyninLakeJackson
Lake Jackson, TX | Off Subject;
Tomorrow at dailypaul.com, there will be a moneybomb for B. J. Lawson, who is running for Congress House of Representatives. We need him in Congress bad. |
Posted 10/06/08 07:36 AM
larrywarrick
BOCA RATON, FL | Both neocons supported by the recipients of big government largesse.
Gee, there's a big surprise.
Bought and paid for folks, bought and paid for. |
Posted 10/06/08 08:43 AM
Truthseeker
Santa Clara, CA | Contributions to Senators McCain &
Obama are in a sense a "done deal".
But there are a couple of other factors which have caught my attention.
1)I find it more interesting that crude oil has fallen
to $90 a barrel or less, and if it continues to
fall over the ensuing weeks & months, I'll be interested in
seeing how it affects our economy.
2)The Town Hall debate scheduled for tomorrow night,9-07-08,between the two presidential candidates may become nasty, but there is a chance it may reveal much of the true character of Senator Obama which could be detrimental
to him.
Please understand that does not mean I favor Senator McCain
since I have no intention of voting for him or his opponent. |
Posted 10/06/08 08:56 AM
ghendric
Burlington, KY | Send this information to Congress and let your representatives and senators that you don't approve, to put it lightly.. |
Posted 10/06/08 09:35 AM
GusCo
Dallas, TX | Is there any place that we can get this data for our Senators and congressman? |
Posted 10/06/08 09:43 AM
RhysW
ann arbor, MI | Anyone see what the Fed is up to today?
'Fed pumps billions more into banks'
http://money.cnn.com/2008/10/06/news/economy/fed_loans/?postversion=2008 100609
Apparently, they're raising the 'Cash for Trash' fund window to $300 billion and expecting to raise it to $900 billion by Christmas. This is where the banks get to borrow money and use worthless assets as collateral, so when the loan goes bad... they just say "oh well, keep the derivatives we gave you".
Honestly, that $700 billion appropriation is the least of our worries. The Fed has a blank check still, and is using it like a junkie in a dope factory. |
Posted 10/06/08 10:01 AM
4freedom
Silverado, CA | I can't help but notice the absence of Washington Mutual on the list. I wondered why they let it fail while the bailed out other banks. Maybe this has someting to do with it.
Thank you for posting this info. |
Posted 10/06/08 10:09 AM
filosophia
Columbus, OH | Are people still planning on voting for Ron Paul? I like Ralph Nader and many of the other independent candidates, but splitting up the independent vote is like a wet dream for the neo-cons. We can't divide ourselves up by voting some here, some there, the Obama/McCain fans will swallow us alive. Whether Ron Paul says so or not, I feel like I have to vote for him out of the good of my conscience. If he doesn't want me to do that I guess I owe him an apology letter. |
Posted 10/06/08 10:19 AM
Truthseeker
Santa Clara, CA | RhysW:
Agreed.
You hit the nail on the head. Until the Federal Reserve is stripped of its control over regulating money and
its value, we, as citizens of America,will continue to
suffer economic woes with a full blown depression very likely. All the agencies,legislation and whatever,controlled by the Federal Reserve need to be wiped out. I have in mind especially the "Community Reinvestment Act".
The House of Representatives had a "golden opportunity"
to repeal the Frderal Reserve Act during its first debate
about the bailout, which it voted against.
It was "golden" because they had the opportunity to
reclaim their Constitutional Authority over U.S.momey matters.
That is the real and only real solution to our financial crisis.
All thr rest is "window dressing".
|
Posted 10/06/08 10:34 AM
Bentley
Colorado Springs, CO | I thought the bailout was suppose to help?
http://conservativeforchange.blogspot.com/2008/10/i-thought-bailout-was -suppose-to-help.html |
Posted 10/06/08 1:42 PM
JANET
FORT MILL, SC | OT:
Election 2008 Events
Kevin Robillard
Issue date: 10/6/08 Section: News
Thursday
Ron Paul at the Comcast Center; hosted by Maryland Students for Liberty: 6:30 p.m. for special VIP event with Rep. Ron Paul (R-Tex.) for $150 donation, 7:30 p.m. at Comcast for main event ($5 with student ID, $25 for general admission). Internet sensation and former presidential candidate Paul will endorse libertarian congressional candidates during a rally at the Comcast Center.
http://media.www.diamondbackonline.com/media/storage/paper873/news/20 08/10/06/News/Election.2008.Events-3471437.shtml
|
Posted 10/06/08 2:29 PM
florida123
orange city, FL | Perfect example of how we have the Wolves guarding the Hen House! God Help Us! You either get fric or frac! Great! |
Posted 10/06/08 2:36 PM
Truthseeker
Santa Clara, CA |
In case you missed it. The following says it all.
Ron Paul's column follows.
Texas Straight Talk
A weekly column
The Do-Something Congress
It has not been a good week for the Republic. It took quite a bit of trampling of the Constitution, but the bailout bill passed, as I suspected it would.
The bailout failed the first time it was brought to the House. Undaunted, the Senate pressed on by attaching the bailout as an amendment to another House passed bill that was pending in the Senate. The new bailout version had new taxes, so according to the Constitution it should not have originated in the Senate.
The rallying cry heard all over the Hill the past two weeks was that Congress must act. Our economy is facing a meltdown. Would this bill fix it? Nobody could really explain how it would. In fact, few demonstrated any real understanding of credit markets, of derivatives, of credit default swaps or mortgage-backed securities. If they did, they would have known better than to vote for this bill. All they knew was that this administration was saying some frightening things, and asking for a lot of money. And when has Congress ever been able to come up with a better solution to a problem than to throw more of your money at it? So that is what Congress did, enacting a financial PATRIOT Act in the process.
In its embarrassment at being called a "Do-Nothing Congress" the 110th Congress took decisive action and did SOMETHING. No matter that it was the wrong thing. In fact, it wasn't until the Senate had a chance to load it up with even MORE spending, when it was finally inflationary and horrible enough, at $850 billion instead of a mere $700 billion, that it passed – and with a comfortable margin, in spite of constituent calls still coming in overwhelmingly against it. 57 members switched their vote!
The market went down anyway. Our nation is now just that much more in the hole. You will pay your part of this mess through inflation, and very likely hyperinflation.
Sometimes doing nothing is much better than thrashing about aimlessly. When one is caught in quicksand, for example, or when one doesn't understand economics and finds oneself in the position Congress was in for the past two weeks, with decades of irresponsible monetary policy coming to a head. Why should we trust the same people who said just a few months ago that the economy was perfectly sound? The same people who just knew there were weapons of mass destruction? The same people that crammed the PATRIOT Act down our throats? Why not consult the people who had the foresight and understanding to see this coming? They would have recommended such logical actions as repealing the Community Reinvestment Act, which forces banks to make bad loans, or allowing the market to set interest rates instead of the Federal Reserve system. How about abolishing the Federal Reserve altogether? There are many things that could have been done, but don’t expect Congress take a course of action that comes from a place of understanding and competence when they could just spend money.
This bailout will be the legacy of the 110th "Do-Something" Congress, along with record low approval ratings. Here's hoping the 111th Congress will be a "Do the Right Thing" Congress, and will focus on repealing and abolishing what is wrong with government instead of reinforcing it.
Posted by Ron Paul (10-06-2008, 12:41 PM) filed under Monetary Policy
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Posted 10/06/08 3:48 PM
AmericanFreedom
Salt Point, NY | What happened to the PMI insurance that these mortgages should have been collecting? |
Posted 10/06/08 7:43 PM
Dragon2
westmont, IL | Its outragious that this government thinks it can buy its way out of financial problems. I say we need to remove the Fed and the many destructive socialist programs in our government. |
Posted 10/07/08 04:15 AM
turlockmike
Turlock, CA | I miss the good old days when special interest groups secretly bribed candidates....now its public knowledge.... |
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