The Street: Goldman Sachs shifts contributions balance to Republicans

Written by admin on September 11th, 2010

The Street reports that Goldman Sachs has shifted the focus of their reelection campaign contributions to the Republicans for the first time in years.

The Street story here

Data from the Center for Responsive Politics (CRP) shows Goldman giving more money to Republicans than Democrats for the first time since it began keeping records back in 1990.

During that 20-year time period covering 11 election cycles, Goldman has donated nearly $21 million to Democrats, nearly double the $12 million it has handed out to Republicans.

This time around, however, Goldman has handed out roughly $914,000 to Republican candidates compared to some $776,000 to Democrats. Goldman has been the top donor among securities firms in every election cycle since 1990 except for 1994, when it was second to Merrill Lynch.

Among companies the CRP classifies as securities firms, Goldman was followed by Morgan Stanley (MS) ($1.1 million), Credit Suisse(CS) ($900 million) and UBS(UBS) ($800 million). But Goldman also outspent JPMorgan and Citigroup(C), which the center classifies as commercial banks, and Bank of America(BAC), which gets credit for $500 million as a securities firm and $900 million as a bank.

 

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