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Goldman Q1 2010 Political Campaign Donations Double To $1.2 Million, Firm Shifts From Democrat To Republican
The Q1 2010 corporate lobbying data from the House Office Of The Clerk has been released and it shows that Goldman's lobbying efforts have really taken off: after donating "just" $670,000 in Q1 2009, the firm doubled its political campaign donations to $1.15 million for the first three months of 2010. The bulk of specific lobbying issues focused on Dodd's Wall Street Reform act, HR4173. Among other lobbying activity were issues relating to housing finance reform, issues related to financial services taxation, issues related to carbon pricing and renewable energy, issues related to ERISA and Build America Bonds. A primary lobbyist for Goldman is Joyce Brayboy, former chief of staff for Mel Watt - one of the primary opponents to Ron Paul's Audit the Fed proposal. Well, now you don't have to wonder why. Most importantly, as Reuters reports, according to data by the Federal Election Commission, Goldman has now turned Republican, having donated more to republicans over democrats in 2010, a reversal from 2009.
Its campaign spending favored Republicans over Democrats by a margin of 58 percent to 42 percent both for March and the first three months of the year.
That is a stark reversal from 2009, when the firm's spending breakdown favored Democrats over Republicans by 61-39 percent, according to an analysis by the Center for Responsive Politics, a nonpartisan watchdog on money in U.S. politics.
Could Goldman be seeing the writing between the lines in the upcoming mid-term elections? And in turn, is Obama's recent escalation against Goldman purely a form of retaliation for Goldman's betrayal of the Democrat cause?
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only about a million, that seems kind of low.
with a ROI like that one would certainly invest much more and i bet they do, but in the ways that provide plausible deniability.
This has been going on for years. Donations depend on which way the political wind blows. Below are the top contributors to Obama's 2008 campaign. Look no further than #2.
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 $493,835Get lost, Goldman! We don't want you in the Republican party, and we'll kick out losers like McCain who favored the kind of deregulation for all those years that got us into so much trouble in the first place.
JD Hayworth for Senate! (And specifically, for McCain's Senate seat: http://www.jdforsenate.com/ )
Where does "JD" talk about financial reform on his web-site. Is it possible, this guy is even more corrupt than McCain.
-- LK (aka V shaped recovery)
Looks like Turkey-Neck's visit accomplished its mission!
GS applying the KY jelly
Best democracy money can buy.
I can't wait for Issa to demand a thorough public airing of which Republicans recieved how much from Wall Street.
I'm So Depressed! Over five thousand years ago, Moses said to the children of Israel, "Pick up your shovel, mount your asses and camels, and I will lead you to the Promised Land." Nearly 75 years ago, Roosevelt said, "Lay down your shovels, sit on your asses, and light up a Camel, this is the Promised Land." Now Obama has stolen your shovel, taxed your asses, raised the price of camels, and mortgaged the Promised Land! I was so depressed last night thinking about Health Care Plans, the economy, the wars, lost jobs, savings, Social Security, retirement funds, etc . . . I called Lifeline. Got a call center in Pakistan. I told them I was suicidal. They got all excited and asked if I could drive a truck.....
+1000
Priceless! Well said!
Mr Settler:
I have to tell you that I am old enough to remember standing on the schoolground on a crisp Monday morning talking with Judson H. ,Buzzy S. Tom J. and someone else I no longer remember talking about the suprise attack of Japan on Pearl Harbor. I later knew and worked with some of those people that had not laid down there shovels.
Did you ever use a shovel for a working day? After you get in shape and the hands get callosed, you turn off your brain and the day goes pretty well. The shape of the shovel handle and angle of blade are important in reducing effort. You can eat all you want without worrying about obesity and you sleep really really well at night.
IMO, one reason for the success of the WWII boys was the preparation they got on the home front.
Obama is a Harvard trained lawyer and politican with experience in Chicago. He probably wants to do the rignt thing but when we are stressed we go back; the harder we are stressed, the further back we go.
"As the twig is bent, so grows the tree."
As a consultant I go to lunch with "workers" at an automotive component stress testing lab.
All they want to talk about is "American Idol" or , this time of year, their boats.
Obama was stuck between a rock and a hard place.
to maintain some electorial clout he has to do some financial regulation. He tried to get the republicans on board and a do nothing bill. Banking "the fools" didn't go along. The got greedy (no surprise they are bankers) so bought the republican party. That could have left everyone "happy".
So they have to change their election strategy and this reflects that. The republicans adopted a strategy of lobby money over electoral gains. perhaps the party shouls change their name. IN effect corporate money pays for the right wing to maintain the polivy it does in order to move the entire debate shift to the right. if they influence legislation without having power they have acheived their aims and keep their corporate backers happy.
the real interesting note is that obama has decided to give up points in the voting booth to make the doners happy. meaning not taken a real economic/ populist perspective.
So what you're saying is that Obama took money from the worst offenders on Wall Street (with Goldman as his single biggest campaign contributor) while promising "change," and then, when he got into office, stuffed his administration with Goldman Sachs alumni and broke nearly all of his campaign promises while doing absolutely nothing to promote actual, meaningful financial reform?
Yeah, we all pretty much knew that already ...
LOL. I was waiting on this information to be published in some form. Looks like ORahmaRod used the SEC to shakedown the mafia for some campaign cash.
These are just the party favors. The real money moves around off line.
All Critters should be subject to surprise refrigerator freezer shakeouts.
I would hope that the readers on ZH would know by now that the partisan politics is a facade. They play this game well. Nothing has changed since Obama was elected except for the worse, and it would have been the same if Bush was still there or Mc Cain was elected or anybody else. With the exception of Ron Paul. Please acknowledge this and unite instead of engaging in the rigged game.
partisan politics is a facade.
Anybody who questions this at this point is a moron high on Rush/CNN/Fox Kool Aid
Yah, so it goes. The so called two party system in America and it's long list of corporatist thugs. We have one party rule in America, one party rule. They pretend to be the opposition party, but all they do is grow government and cater to the special interests.
Until Americans stop this insanity and vote out all the partisan hacks, we are doomed.
Easier said than done. Most states' election laws are designed to keep independents, third parties, and non-establishment Rs and Ds off the ballot. California's Proposition 14 (which voters will decide in June), will only make the situation worse. Just take a look at all the contributions Schwarzenegger, big corps, and PACs have thrown at this ballot measure: http://cal-access.sos.ca.gov/Campaign/Committees/Detail.aspx?id=1322507&.... The governor's "dream team" threw in a half million, HP $100k, the CEO of NetFlix over $250k...over $2.2 million total. If this passes in CA, don't think it won't spread to other states...
This will yield them extremely high ROI.
So what does this mean, that this lobbyist I know is going to need another $10M house?
Let me write that headline:
Goldman Shorting Democrats Anticipating Major Decline Nov. 2010
Lloyd B. God ordered all minions on deck today to initiate massive short positions on Democrats ahead of the Nov. 2010 elections. Goldman still advising their clients with a strong buy on the Democrat brand...
on Wed, 04/21/2010 - 10:37
#311105
"I would hope that the readers on ZH would know by now that the partisan politics is a facade. They play this game well. Nothing has changed since Obama was elected except for the worse, and it would have been the same if Bush was still there or Mc Cain was elected or anybody else. With the exception of Ron Paul. Please acknowledge this and unite instead of engaging in the rigged game."
___________________________________________________________
Rick64, that was a 10+ !!
Ron Paul wanted to tell the truth, the whole truth, and nothing but the truth. He wanted to make the fiscal solvency of the United States the top priority we must face in order to ensure not just our future prosperity, but our present survival.
No wonder his presidential campaign lasted all of 14 minutes....
The 2 party system and it's corporate partners in crime are leading America straight to hell and to extinction...
...And the average shit-for-brains voter is all too happy to give 'em total permission so long as he/she can keep their ipod and new SUV a little longer.
And let's not even get started on Sarah Palin or any of the other lying, cheating, dishonest, ignorant, egotistical, power-hungery, shit-stupid Nazi wannabes waiting in the wings to fill any political vacuum that might miraculously present itself.
This crisis will be like all others:
Nothing so clarifies the mind as the sight of the hangman's noose (financially speaking, that is).
Thank you, but I have to admit my shame and embarrassment for not voting for him. I hope that he runs again because I think that he will get a lot more support. He was leading in the polls at one time and the media refused to give him his due, basically ignoring him. The people have to stop the media from twisting,controlling, and deciphering information then promoting propaganda. You are right that the corporations and banks own our politicians. The deck is stacked against us, but the masses don't realize the power of change is in our hands, when we wake up to the reality that the system no longer works in the interest of the citizen.