Feature: Election 2012

Quarter 2: Where Presidential Candidates Got Their Money

Author: Luke Stanek
Published: October 02, 2011 at 5:45 am
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It's often interesting to see where candidates get their money, as you can often see which special interests support them based on the employees that donate to their campaigns. Here's a breakdown of April-June 2011 and who was the top contributor to whom. (All data gathered from OpenSecrets.)

Barack Obama's top three contributors are Goldman Sachs, Comcast, and Exelon.

As we all know, Goldman Sachs was given $10 billion in the financial crisis bailout. Comcast is the owner of NBC Universal, which owns MSNBC. Exelon was fined $600,000 for pollution violations.

Mitt Romney's top contributors are Morgan Stanley at number 3, Credit Suisse at number 2, and Goldman Sachs at number one, with nearly $300,000 USD in Q2.

Morgan Stanley was a critical part of the financial crisis of 2007-2008. They received over $14 billion in emergency funds from China and Japan to help prevent bankruptcy. Credit Suisse, on the other hand, is a Swiss investment firm that profited by purchasing devalued company stock during the financial crisis.

Ron Paul's top contributors (based on employer) are as follows: US Army (#1), Google Inc. (#2), Corriente Advisors (#3). Other notables are US Airforce (#4), US Navy (#7), Lockheed Martin (#13), US Government Employees (#17). Ron Paul was the only candidate to have military servicemen and women in his top 10 contributors. He also had all three main branches of the military in his top 10, interestingly enough.

Corriente Advisors is a Texas investment firm that was negatively affected during the financial crisis. (They were not seen as "too big to fail.")

On to Tim Pawlenty, who dropped out in August. Tim Pawlenty's top three were Wells-Fargo, Moelis and Co, and Morgan Stanley.

Continued on the next page
 
 

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Article Author: Luke Stanek

Luke Stanek became interested in the ideas of liberty and the free market after the 2008 Presidential Election. Inspired by those promoting liberty, Luke began to write letters to the editor of local newspapers. …

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