Goldman Sachs Among Top Obama Donors
President Barack Obama’s largest campaign donors last month included employees of Wells Fargo & Co., JPMorgan Chase & Co. and Goldman Sachs Group Inc., according to an analysis of Federal Election Commission records.
Their support indicates that Wall Street, which gave Obama $16 million for his successful 2008 White House run, is opening its checkbook again for the president. The contributions helped Obama raise $21 million in February, including $6.5 million transferred from a joint fundraising committee with the Democratic National Committee...
Obama has raised $161 million for his re-election and entered March with $84.7 million in the bank. Four years ago, engaged in a primary battle with Hillary Clinton for the Democratic nomination, he had raised $197 million by the end of February and had close to $40 million in cash.
The incumbent has raised twice as much as Republican front-runner Mitt Romney, who has brought in $75.6 million, including $12 million last month. Obama’s campaign bank account entering March was more than 11 times greater than Romney’s...
Obama has focused on technology companies. Employees of Microsoft Corp., based in Redmond, Washington, donated $91,881, his biggest source of contributions from those listing an employer, according to a computer-assisted analysis of FEC reports filed today. Microsoft employees and their families have given almost $300,000 to Obama’s re-election, more than anyone else, according to FEC records and the Center for Responsive Politics.
This time around, the president also counted as his top sources of campaign cash employees of San Francisco-based Wells Fargo and JPMorgan and Goldman of New York. The financial community had been missing from his list of top donors for his re-election, some of whom are upset over his support of new legislation designed to regulate an industry blamed for contributing to the worst economic downturn since the Great Depression.
Obama continued to do well among small donors; 54 percent of the money donated to his campaign came in amounts of $200 or less.
Priorities USA Action, a political action committee supporting the president, also got a boost in large donations. After raising 58,816 in January, it reported getting $2 million in February, including $1 million from comedian Bill Maher, after the president signaled to wealthy backers that they should support the committee. The super-PAC began this month with $2.8 million in the bank.
Jim Messina, Obama’s campaign manager, said on Feb. 6 that White House and Cabinet officials would begin helping the super-PAC raise money to take on Republican groups which are amassing millions to oppose him.
Employees of the law and lobbying firm DLA Piper gave $41,728, second only to Microsoft, bringing their total to more than $200,000. DLA Piper last year was paid $8.2 million for lobbying services by such clients as Comcast Corp. and Raytheon Co.
Wells Fargo employees ranked sixth with $16,290 in donations to the president’s campaign last month; JPMorgan executives came in 10th with $14,903, just ahead of Goldman employees who gave $14,610.
Employees of New York-based Goldman and their families gave Obama $1 million four years ago, more than those of any other company, and JPMorgan employees contributed $808,799, the fourth most, according to the Center for Responsive Politics.
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Editor's Note: The larger point lost here in statistics is that banking and financial firms that received grotesque amounts of taxpayer monies via Pres. Obama's subsidies and bailouts are now fueling his re-election campaign. So, how is that different than "money laundering"?...Additionally, and regarding the statement by Obama campaign manager Jim Messina that the White House and presidential cabinet members would be "helping the super-PAC raise money," we were under the impression that there needed to be a distinct barrier between the candidates and super-PACs...Hhmmm....
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