.Stanford’s Political Investments: Obama, McCain, Dodd, Ney, DeLay…
More than 100 members of Congress—past and present—as well as congressional campaign committees and the national parties benefited from political donations from the political action committee or employees of Stanford Financial Group since 2000, according to the Center for Responsive Politics.
The Securities and Exchange Commission charged the firm’s head, R. Allen Stanford, on Tuesday with orchestrating a $8 billion fraud. Tuesday’s Wall Street Journal reported on Stanford’s status as an “international cricket sponsor, Washington political donor and private banker to Latin America’s wealthy.” (For the full story, click HERE.)
President Barack Obama was the third-ranking recipient among lawmakers, with $31,750 collected from company employees during his presidential bid while $4,600 was from Stanford himself.
Obama’s presidential rival, Arizona GOP Sen. John McCain, was the fifth highest recipient with $28,150.
On the whole, Democrats benefited more from the Stanford largesse. Of the $2.4 million in donations tied to the firm since 2000, 65% was directed towards Democrats. Of the nearly $1 million donated by Standford and his wife, Susan, 78% was directed to Democrats.
(For more on Stanford’s influence in Washington, read this story in Wednesday’s Wall Street Journal.)
According to CRP’s report, the Democratic Senatorial Campaign Committee was the top recipient of Stanford funds with $965,500, although all House and Senate campaign operations benefited from donations. The Republican National Committee also received $161,000.
Among lawmakers, Florida Democratic Sen. Bill Nelson and Texas Republican Rep. Pete Sessions were the top two recipients, with $46,000 and $41,000 respectively.
Also cracking the top 10 are former GOP Rep. Bob Ney of Ohio and former House Majority Leader Tom DeLay of Texas, as well as Senate Banking Chairman Chris Dodd of Connecticut, New York Democratic Sen. Charles Schumer, and Texas Republican Sen. John Cornyn.
WSJ
The Securities and Exchange Commission charged the firm’s head, R. Allen Stanford, on Tuesday with orchestrating a $8 billion fraud. Tuesday’s Wall Street Journal reported on Stanford’s status as an “international cricket sponsor, Washington political donor and private banker to Latin America’s wealthy.” (For the full story, click HERE.)
President Barack Obama was the third-ranking recipient among lawmakers, with $31,750 collected from company employees during his presidential bid while $4,600 was from Stanford himself.
Obama’s presidential rival, Arizona GOP Sen. John McCain, was the fifth highest recipient with $28,150.
On the whole, Democrats benefited more from the Stanford largesse. Of the $2.4 million in donations tied to the firm since 2000, 65% was directed towards Democrats. Of the nearly $1 million donated by Standford and his wife, Susan, 78% was directed to Democrats.
(For more on Stanford’s influence in Washington, read this story in Wednesday’s Wall Street Journal.)
According to CRP’s report, the Democratic Senatorial Campaign Committee was the top recipient of Stanford funds with $965,500, although all House and Senate campaign operations benefited from donations. The Republican National Committee also received $161,000.
Among lawmakers, Florida Democratic Sen. Bill Nelson and Texas Republican Rep. Pete Sessions were the top two recipients, with $46,000 and $41,000 respectively.
Also cracking the top 10 are former GOP Rep. Bob Ney of Ohio and former House Majority Leader Tom DeLay of Texas, as well as Senate Banking Chairman Chris Dodd of Connecticut, New York Democratic Sen. Charles Schumer, and Texas Republican Sen. John Cornyn.
WSJ
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