Obama, Show Me the Money

Most of my research came from OpenSecrets.org Thanks to them, we can view such information online. The site has changed some since I worked with Hillary Clinton’s money matters. But I wish to thank them for making MY job a lot easier.

One thing that is starting to make me really nervous is the amount of money coming from companies outside the USA. Why? What is it they hope to gain from making donations to these candidates? And what favors are they going to require down the line? Nothing is ever really free.

The latest figures haven’t yet come in. I suppose I’m doing this either too soon or too late depending on your point of view. But, I promised this and so it will be delivered.

Oh, and by the way, I was wrong and James pointed this out to me when I said in a previous article that Obama voted against the telecom immunities amendment an so against us. Obama voted NO on that amendment and FOR US. In other words, he voted that the telecommunications industries that gave our information away NOT have any immunity from prosecution granted to them. Something G W Bush wants badly! I hope that sets that record straight.

As to where the Senator is getting all his donations from, here is a list of some of the top contributors to his campaign and a brief summary for them.

Goldman Sachs $474,428

Goldman Sachs is one of Wall Street’s most prestigious investment banks. Like others in the securities industry, it advises and invests in nearly every industry affected by federal legislation. The firm closely monitors issues including economic policy, trade and nearly all legislation that governs the financial sector. It has been a major proponent of privatizing Social Security as well as legislation that would essentially deregulate the investment banking/securities industry. In August 2002, following months of corporate scandals, congressional investigators launched a probe into whether stock analysts at Goldman Sachs issued biased investment advice in order to protect corporate clients. The firm tends to give most of its money to Democrats. Goldman Sachs’ former chief executive, Jon Corzine, served in the U.S. Senate as a Democrat from New Jersey. He’s now the state’s governor.

Ubs Ag $298,180

UBS is the leading global wealth manager, a top tier investment banking and securities firm, and one of the largest global asset managers. In Switzerland, UBS is the market leader in retail and commercial banking. With headquarters in Zurich and Basel, Switzerland, UBS operates in over 50 countries and from all major international centers.

JP Morgan Chase & Co $282,387

JP Morgan Chase & Co is one of the nation’s leading financial services firms, offering commercial and consumer banking and credit services, securities brokering and financial consulting. Through its subsidiary Chase Bank, the company is one of the top consumer credit card issuers in the country. As expected, the firm has lobbied heavily on legislation that would affect the nation’s financial industry, including bankruptcy reform and banking deregulation. In 2002, federal investigators launched a probe into the firm’s relationship with former energy giant Enron. Prior to the energy firm’s collapse, JP Morgan Chase had been one of the company’s biggest financial backers.

Lehman Brothers $274,147

Lehman Brothers Holdings Inc. (NYSE: LEH), founded in 1850, is a diversified, global financial services firm. It is a participant in investment banking, equity and fixed income sales, research and trading, investment management, private equity, and private banking. It is a primary dealer in the U.S. Treasury securities market. Its primary subsidiaries include: Lehman Brothers Inc., Neuberger Berman Inc., Aurora Loan Services, Inc., SIB Mortgage Corporation, Lehman Brothers Bank, FSB, and the Crossroads Group. The firm’s worldwide headquarters are in New York City, with regional headquarters in London, and Tokyo and offices throughout the world.

National Amusements Inc $265,750

National Amusements, Inc., is a world leader in the motion picture exhibition industry operating more than 1,500 movie screens in the U.S., U.K., Latin America and Russia. National Amusements delivers a superior entertainment experience in theatres around the world under its Showcase, Multiplex, Cinema de Lux, and KinoStar brands.

Based in Dedham, Massachusetts, National Amusements is a closely held company operating under the third generation of leadership by the Redstone family. National Amusements is also an equal partner in the online ticketing service, MovieTickets.com, and is the parent company of both Viacom and CBS Corporation.

Sidley Austin LLP $251,657

Sidley provides a broad range of legal services to meet the needs of our diverse client base. The strategic establishment of our offices in the key corporate and financial centers of the world has enabled us to represent a broad range of clients that includes multinational and domestic corporations, government authorities, banks and financial institutions.

Citigroup Inc $247,436

Citigroup is the world’s second largest financial services firm, with $1 trillion in assets. One of the company’s subsidiaries is brokerage firm Salomon Smith Barney, which has been plagued with lawsuits and government investigations into its financing of bankrupt Enron and ailing WorldCom. In 1998, Citigroup’s lobbying helped repeal a federal law that prevented banks from getting into other businesses, allowing the company to acquire an insurance firm. Citigroup continues to lobby on a number of issues, including financial privacy, bankruptcy reform and terrorism reinsurance.

University of California $239,944

UC researchers are pioneers in agriculture, medicine, technology and the environment. Thousands of California jobs, billions of dollars in revenues, and countless everyday household items – from more plentiful fruits and vegetables to compact fluorescent light bulbs – can be traced back to UC discoveries. Similarly, many of the state’s leading businesses have connections to UC. Those companies were either based on technology developed by the university, were founded by our faculty or alumni, or are headed by UC graduates.

Skadden, Arps et al $228,520

Skadden Arps Slate Meagher & Flom LLP & Affiliates may have the highest name recognition among non-lawyers of any law firm in the world. And the firm has earned it. Starting from humble roots back in 1948 ? when Joe Flom was the firm’s only associate ? Skadden Arps has grown into one of the biggest and most profitable law firms in the world. Based in New York, Skadden Arps has branch offices everywhere from Sydney to San Francisco.

Exelon Corp $226,661

Exelon Corporation, a utility services holding company, engages in the generation, transmission, distribution, and sale of electricity to residential, commercial, industrial, and wholesale customers in northern Illinois. The company also purchases and sells electricity and natural gas on retail basis to customers in southeastern Pennsylvania. It generates electricity through nuclear, fossil, and hydroelectric generation facilities. As of December 31, 2007, Exelon owned generation assets with an aggregate net capacity of 24,808 megawatts. As of the above date, the company distributed electricity to approximately 3.8 million customers in northern Illinois, and approximately 1.6 million customers in southeastern Pennsylvania, as well as natural gas to approximately 480,000 customers in Pennsylvania. Exelon was founded in 1887 and is based in Chicago, Illinois.

Jones Day $213,825

Jones Day is a prestigious international law firm headquartered in Cleveland, Ohio. It was founded on March 1, 1893 by Judge Edwin J. Blandin and William Lowe Rice. Jones Day is the 8th largest law firm in the world by revenue[. It is currently the second largest law firm in the United States, with approximately 2,200 lawyers and gross annual revenue in excess of $ 1.5 billion. The current managing partner, Stephen J. Brogan, resides in the firm’s Washington, D.C. office.

Google Inc $192,808

Named for the mathematical term “googol,” Google operates websites at many international domains, with the most trafficked being Google.com. Google is widely recognized as the world’s best search engine because it is fast, accurate and easy to use. The company also serves corporate clients, including advertisers, content publishers and site managers with cost-effective advertising and a wide range of revenue-generating search services. Through technology development and a continuing focus on innovation, we work every day on our core mission: to organize the world’s information and make it universally accessible and useful.

Time Warner $190,091

Time Warner
America Online and Time Warner merged in 2001 to create one of the largest media companies in the world. The new colossus owns dozens of subsidiaries, including online services, print and broadcast news organizations, cable television companies, movie studios, music companies and publishing houses. Time Warner also owns the Atlanta Braves baseball team, as well as basketball and hockey teams. With so many business interests, the company lobbies on a number of different issues, but right now its biggest concern is over the rules governing television ownership. The company wants the government to relax the rules prohibiting cable television stations from also owning broadcast stations in the same market.

Morgan Stanley $190,026

Morgan Stanley
Morgan Stanley is one of the world’s top investment banks, offering its clients everything from stock portfolio management to credit services. Like others in the securities industry, it invests in and advises virtually every industry affected by federal legislation. The company, which splits its contributions evenly between Democrats and Republicans, has been a major proponent of privatizing Social Security. Morgan Stanley also has lobbied in favor of proposals to deregulate the securities industry, so that investment firms can further extend their reach into financial services.

Citadel Investment Group $173,950

Citadel Investment Group is, as of September 2007, a $16.5 billion hedge fund based in Chicago, Illinois, founded by billionaire trader Kenneth C. Griffin. It is one of the world’s largest hedge funds. The firm’s daily trading volume amounts to approximately 3% of average daily trading activity in London, New York and Tokyo. The fund requires longer “lock-up” periods from investors than many other hedge funds. Though Citadel employs over 1,000 individuals globally, its flagship operation is located in Citadel Center, a $355 million office tower in downtown Chicago (in 2006 the tower was purchased for $560 million by Robert Gans. Citadel also has offices in New York, Tokyo, Hong Kong, San Francisco, and London. Of the 100 largest hedge funds, only Citadel is based in Chicago. Citadel is the eleventh largest hedge fund in the world; it is also the second largest multi-strategy hedge fund in the world.

Kirkland & Ellis $163,126

Kirkland & Ellis has a 100-year history of providing exceptional service to clients around the world in complex litigation, corporate and tax, intellectual property, restructuring and counseling matters. The groundwork has been established for another century of superior legal work and client service.

Kirkland is a strong and dynamic institution with a strategic network of offices located in major business centers around the globe. In line with our strategy of sensible, organic growth, the Firm has expanded geographically to meet the needs of our clients while maintaining a strong focus on quality control.

Latham & Watkins $160,842

Our departments are each recognized as leaders in the legal profession. Latham consistently ranks among the best transactional and finance practices in leading legal publications such as The American Lawyer, mergermarket, Chambers and Asia Legal Business and earns praise worldwide for work on high-profile and groundbreaking deals. The firm has one of the largest and most sophisticated litigation practices in the world, offering expertise in a multitude of substantive areas. Our litigation department has placed among the top five litigation practices in the US in each of the last two The American Lawyer “Litigation Department of the Year” surveys. Our environmental practice has been at the forefront of this rapidly changing area for the last two decades and was named as the top firm in the world for environmental expertise by The International Who’s Who in 2005. The firm has a long and rich history in tax matters, dating back to founding partner Dana Latham, former Commissioner of the US Internal Revenue Service.

Jenner & Block $151,447

Jenner & Block LLP is a national law firm with offices in Chicago, New York and Washington, DC. Founded in 1914, the Firm has over 450 lawyers offering experience in virtually every area of the law. Jenner & Block’s clients include industrial, commercial, entertainment, new media, technology, and utility companies, as well as financial and service enterprises. In the public sector, the Firm represents a variety of state and local governmental entities. Jenner & Block’s reputation as one of the country’s most successful law firms has been established by consistently delivering excellent legal counsel to clients in the boardroom and in the courtroom, from the trial level through the United States Supreme Court. Jenner & Block is proud of its long tradition of public service. In 2007, the Firm ranked third in the nation in The American Lawyer magazine’s annual survey of pro bono work performed by major law firms.

There are more like Harvard University which donated $225,891 but who didn’t seem to want you to know “about” them. So, they aren’t listed here. If you are curious about the donations to these candidates, I highly recommend you go to OpenSecrets.org and view the data for yourself. Most of the company information I had to look up myself though.

As you can see from the above list there are Attorney firms, global corporations, media companies, etc., and they have a LOT of money to donate. WHY? What favors will these corporate giants ask for in the future?

All together, Attorney’s and Attorney Firms donated a whopping: $11,246,596, Securities and Investment Firms: $6,026,529, Education: $3,880,197, Real Estate:$3,038,325, and so on. I hope all this helps you understand who is funding these races for the White House….

If there is any “There aught to be a law” it is that these candidates cannot take money from corporations or non-citizen entities. Not that I believe for a second that they wouldn’t find a way to make donations still, just that it would be a lot harder for these huge outfits to put pressure on our Government.

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~ by justmytruth on March 3, 2008.

2 Responses to “Obama, Show Me the Money”

  1. Thanks James, they are gone…..

  2. Those last two comments are spam. Look at, but don’t click where there names lead to.

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