Give to Get? Financial Institutions That Made Hefty Campaign Contributions Score Big Bucks from the Government

Mar 19, 2009 | by
  • Description

The Troubled Assets Relief Program (TARP) was intended to stabilize the country's financial sector by distributing hundreds of billions of dollars. 300+ banks have received nearly $200 billion thus far. FollowTheMoney.org studied 75 institutions that received TARP funds. They contributed $20.4 million to state-level politics from 2000 to 2007: 62% went to statewide candidates; 27% to political parties; and 11% to ballot measure committees. Fast Facts

  • Individual donors employed by the financial institutions in this analysis contributed an additional $4.7 million to state-level political committees during the same period.
  • Committees affiliated with the Republican Party received $11.1 million of the $18.1 million given to candidates and political parties. Committees affiliated with the Democratic Party received $7 million.
  • Financial institutions that received TARP funds contributed $20.4 million to state-level political committees from 2000-2007. Candidate committees received the majority of the contributions ($12.6 million). Party committees received $5.5 million and ballot measure committees received $2.3 million.