uglypeoplefucking wrote:According to Opensecrets.org the following are the top 5 contributors to the Romney and Obama election campaigns, respectively:
1) Goldman Sachs
2) JP Morgan Chase
3) Morgan Stanley
4) Credit Suisse Group (financial group headquartered in Zurich)
2) DLA Piper (legal group specializing in technology)
4) University of California
5) Harvard University
Interesting lists for many reasons. Make of them what you will.
SIATD v2 wrote:Where are Goldman Sachs (etc) on Obama's list? I'm sure they donate to him too.
After examining info on http://www.opensecrets.org
, I could summarize that Goldman Sachs 'people' were big Obama supporters in 2008. They have since 'switched' to funding mainly the republican party so far, but also their total contributions are so far considerably lower than 2008 rates, which shows they probably have more to give yet. JP Morgan and Morgan Stanley people seem to follow the same pattern.
However, these figures aren't as telling as they should be, because its not the companies who are giving the money, but their employees, and their employee's families
. As Romney is a businessman, its natural that he will attract large personal donors from people involved in the finance sector. There therefore might be some bias in the industry totals statistics, because not all of the money grouped under the label of 'Goldman Sachs' will actually have been donated specifically to lobby for the financial sector's interests. The two types of funders who really get influence for their buck are the bundlers, and the PACS (including the supers). Some of what is generally listed as 'donations from Goldman Sachs' etc comes from these, but some of it just comes from personal donors who've been forced to list their employer by law. Sorting out which is which and where the money/influence is coming from is tricky.
The bundlers are especially cryptic, because there is so little track kept of them. There are clear patterns, however:
opensecrets.org wrote:Together, 532 elites are directing at least $106,400,000 for Obama's re-election efforts -- money that has gone into the coffers of his campaign as well as the Democratic National Committee..
- - - - - - - - - - - -
25 registered lobbyists have bundled a total of $3,088,151 for Mitt Romney's presidential campaign.
Seeing as most of these bundlers are regular campaign financiers - this tells us that they feel that they have been getting whatever it is they want from Obama and the White House and feel their relationship is working. Of course, the bundlers aren't really coming through for Romney partly because they know he isn't going to get elected, and there's no point having lobbying power with someone who hasn't been elected. But if they really felt Obama wasn't listening, they wouldn't still be pumping in the cash. Put simply, the monetary influences are still strongly behind the incumbent, as they always are.
This list shows who Obama's bundlers actually are :http://www.opensecrets.org/pres12/bundl ... =N00009638
I noticed that a fair number of Obama's bundlers are working for financial institutions of one sort or another.
As S-PACs, its Restore our Future which is the big worry, or actually - the people backing it, because that's where a handful of billionaires have managed to have a heavily disproportionate influence over results. They were probably the ones who made damned sure that Romney was the chosen candidate for the republicans. Whether these financial backers will really step into the general election remains to be seen, but personally I don't think they will spend too much on a lost cause. They've probably achieved their aim already in getting Romney to be the contestant.
So, whilst a handful of Wallstreet billionaires are backing Romney, Obama continues to receive considerable support from pretty much every sector, especially in the form of bundlers whose friends on K street undoubtedly have some sort of influence on him. And whilst people who are associated with financial institutions heavily favor Romney, money coming in from influential people or groups with specific links to K street seems to continue to flow mainly towards Obama.
Life is infinitely stranger than anything which the mind of man could invent. We would not dare to conceive the things which are really mere commonplaces of existence. If we could fly out of that window hand in hand, hover over this great city, gently remove the roofs, and peep in at the queer things which are going on, the strange coincidences, the plannings, the cross-purposes, the wonderful chains of events, working through generations, and leading to the most outre results, it would make all fiction with its conventionalities and foreseen conclusions most stale and unprofitable.
- Sherlock Holmes, A Case of Identity