AMERICANS FOR CAMPAIGN REFORM

$200 Wall Street Money in Politics
Millions

FACT SHEET

$180

$160 Wall Street Tops Campaign Finance Charts
• $140 Individuals and PACs in finance, insurance, and real

Figure 1: Total PAC and individual contributions from
$350 $300 $250 $200 $150 $100

finance, real estate, and insurance industries, 1990-2008
Millions

estate have contributed over $2 billion to federal $120 campaigns since 1990, the largest sector by a factor of two • $100 Street contributions increased five-fold from $60 Wall million in 1990 to $311 million in 2008 $80 • Members of the U.S. House and Senate received an average $142,663 and $1,042,663, respectively, in Wall $60 Street contributions as of July 28, 2008 $40

Individuals Series1 PACs Series2

Series2 Series1

Both $20 Parties Profit from Wall Street Funds
• Wall Street donors consistently favored the political party

$0 $50 in power with higher contributions in eight out of ten 1990 1992 1994 elections between 1990-2008 1996 1998 2000 2002 2004 2006 2008 $0 $200 • Republicans received 55% of total Wall Street funds from 1990 1992 1994 1996 1998 2000 2002 2004 2006 2008 1990-2008, compared with 44% for Democrats $180 • The top twenty recipients of Wall Street contributions Figure 2: Partisan breakdown of contributions from include Senators and Representatives regarded as among $160 finance, insurance, and real estate industries, 1990-2008 the most liberal and the most conservative Members in $140 Congress $120
Millions

Millions

$200 $180 $160 $140

Wall $100 Donors Favor Incumbents Street
• Incumbent Members of Congress received three-quarters

Democrats Series1 Republicans Series2

$80 (74%) of the $225 million in Wall Street contributions in $120 2008, consistent with recent trends $60 $100 • With the exception of two House challengers in highly $80 $40 contested campaigns, every one of the top forty Wall $60 Street-backed candidates running for Congress in 2008 $20 was an incumbent, as of July 28, 2008 $40 $0 $20 Wall Street1990 1992Regulatory1998 2000 2002 2004 2006 2008 Targets 1994 1996 Committees $0
• Wall Street contributions to House and Senate candidates
1990 1992 1994 1996 1998 2000 2002 2004 2006 2008

Series1 Series2

in 2008 were heavily concentrated on members of the relevant banking, commerce, and tax committees responsible for industry regulation • Nine of the top ten House recipients of Wall Street contributions in 200808 served on the Financial Services (6) or Ways and Means (3) committees • Top-ten members of the relevant House committees received an average $1.5 million from Wall Street in 2008, ten times the overall average in the House • The top ten Senate recipients of Wall Street contributions in 2008 were either candidates for President or members of the Commerce, Banking, Finance, and Budget committees, or in Senate leadership; average contributions received was $14.3 million, incl. presidential candidates
Source: Center for Responsive Politics analysis of campaign finance disclosures filed with the Federal Election Commission, 1990-2008

Figure 3: Top ten Wall Street contributors, 2008
Rank 1 2 3 4 5 6 7 8 9 10 Organization Goldman Sachs Citigroup Inc JPMorgan Chase & Co Morgan Stanley National Assn of Realtors UBS AG American Bankers Assn Lehman Brothers Merrill Lynch Bank of America Amount $4,287,701 $3,438,497 $3,029,568 $2,842,517 $2,525,300 $2,256,060 $2,029,088 $1,921,167 $1,824,505 $1,800,504

JOIN US AT YOU STREET, A GROWING MOVEMENT FOR CAMPAIGN REFORM • WWW.YOUSTREET.ORG 5 BICENTENNIAL SQUARE CONCORD, NH 03301 • TEL 603.227.0626 • INFO@YOUSTREET.ORG 8/25/09

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