NEW YORK (TheStreet) -- Goldman Sachs (GS), Citigroup (C), JPMorgan Chase (JPM), Bank of America (BAC) and General Electric (GE) all rank in the top 10 organizations in terms of their campaign contributions to a special Congressional committee charged with finding ways to reduce the deficit, according to MapLight.org a nonpartisan organization that studies the relationship between money and politics.
Companies classified as belonging to the "Securities and Investment industry" donated a total of more than $11 million to the 12 members of the bipartisan Joint Select Committee on Deficit Reduction from Jan. 1, 2001 through 2010.
That was second only to lawyers and law firms, which donated nearly $32 million over the same time period. Skadden, Arps, Slate Meagher & Flom is the only law firm listed among the top 10 contributors, however, which also includes Microsoft Corp. (MSFT), the University of California and Emily's list, an organization devoted to electing pro-choice Democratic women to public office.
The top donor organization to the so-called "Super Committee" is a political action committee known as Club for Growth, which says its "primary tactic" is "to provide financial support from Club members to viable candidates to Congress who believe in pro-growth policies, limited government, low taxes and economic freedom, both in Republican primaries and general elections."The members of the super committee are Sens. Pat Toomey (R-Pa.), Jon Kyl (R-Ariz.), Rob Portman (R-Ohio), Patty Murray (D-Wash.), John Kerry (D-Mass.), and Max Baucus (D-Mont.) and Reps. Jeb Hensarling (R-Texas), Fred Upton (R-Mich.), Dave Camp (R-Mich.), Chris Van Hollen (D-Md.), Xavier Becerra (D-Calif.), and Jim Clyburn (D-S.C.) MapLight drew upon data from the Center for Responsive Politics in performing its analysis. -- Written by Dan Freed in New York.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV