New York Politics
Posted by Ray on September 27, 2009 under Main | 
2 Comments to Read
It’s funny how New York politics work especially since we have so many investment firms and layers located in New York City. We also have a very powerful senator, Charles ‘Chuck’ Schumer who is, huh hum, for the people and recently put the kibosh on flash trading. However, it would be nice if he voted less frequently for the big Wall Street firms and took far less money from them and their M&A lawyer friends. The same goes for his new partner in crime Kristen Gillibrand who replaced Hillary Clinton.
Both of these senators have taken large amounts of money from people who work in the investment community and who work for the large M&A firms out of New York City. Now, I get how politics work, but give the rhetoric they both have been giving about reforming the system and the fact that Schumer already has some $14 million in the bank you would think he would turn away some money from investment firms that he is supposed to be against. You would definitely think Gillibrand would turn away money from folks or PAC’s that represent Citi Group or Goldman Sachs as they represent the armpit of American finance at the moment, but nope that is not the case at all.
I guess they will continue their dog and pony show in front of the cameras about how they love the people and are doing all they can in Washington while at the same time taking money from Wall Street all but assuring that when they need another bailout they will surely get Schumer and Gillibrand’s vote, again. These two have got to go for the simple fact that Schumer has been in Washington for too long and, in my opinion, does not represent the people any longer and is way too self serving. Gillibrand is showing lack of common sense by accepting money from questionable sources, in my opinion, and voting to keep funding for ACORN even though employees were anxious to help with an under age prostitution ring.
Here is the breakdown of contributions.
Gillibrand:
1 Boies, Schiller & Flexne r$165,200 $165,200 $0
2 Davis, Polk & Wardwell $98,492 $98,492 $0
3 EMILY’s List $33,299 $33,299 $0
4 Deutsche Bank AG $30,000$25,200 $4,800
5 Maverick Capital $24,400 $24,400 $0
6 Simpson, Thacher & Bartlett $24,100 $24,100 $0
7 Rudin Management $24,000 $24,000 $0
8 Hbj Investments $23,600 $23,600 $0
9 Paul, Weiss et al $23,450 $23,450 $0
10 Durst Organization $19,200 $19,200 $0
11 Fortress Investment Group $19,200 $19,200 $0
12 Cravath, Swaine & Moore $16,400 $16,400 $0
13 BAE Systems $15,300$5,300 $10,000
14 Citigroup Inc $14,650$ 14,650 $0
15 Plaza Construction$14,400 $14,400 $0
16 Friedman, Kaplan et al $13,900 $13,900 $0
17 Goldman Sachs $12,600 $10,100 $2,500
18 Shearman & Sterling $12,100 $12,100$0
19 DE Shaw & Co $12,000 $12,000$0
20 Davis Polk $11,600 $11,600$0
Chuck Schumer:
1 Weitz & Luxenberg $81,400$81,400 $0
2 Kasowitz, Benson et a l$55,750 $55,750 $0
3 Sullivan & Cromwell $51,900 $51,900 $0
4New York Life Insurance $49,050 $39,050 $10,000
5Corning Inc $42,250 $32,250 $10,000
6Boies, Schiller & Flexner $41,950 $41,950 $0
7Lightyear Capital $40,800 $40,800 $0
8MBF Clearing Corp $33,600 $33,600 $0
8Rudin Management $33,600 $33,600 $0
10Related Companies $32,400 $32,400 $0
11 Wexford Capital $31,200$31,200 $0
12 Newmark Knight Frank $30,900$30,900 $0
13Welsh, Carson et al $29,700 $29,700 $0
14Renaissance Technologies $28,800 $28,800 $0
15Warner Music Group $28,100 $26,600 $1,500
16Nyse Euronext $27,250 $27,250 $0
17Och-Ziff Capital Management $26,400 $26,400 $0
18GoldenTree Asset Management $26,350 $26,350 $0
19Jll Partners$25,800 $25,800 $0
20Montefiore Medical Center $25,000 $25,000 $0
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Tags: charles schumer, chuck schumer, currupt politics, Goldman Sachs, kristen gilibrand, New York State Senate, NYS, senatorial race, wall st, wall street, washington
logicalthought said,
What’s amazing about this is how tiny these $30,000 contributions are relative to the profitability of these funds and law firms, and yet how large that same amount of money probably looks to its “politician recipients”. These are probably the safest, most profitable– and yet most highly levered– investments these funds can possibly make!
Ray - Real Name said,
Exactly, our politicians are bought at such a low cost it makes me sick, especially when they give firms millions to hundreds of billions in legislative favors. we got to vote these folks out and take out government back. Otherwise, we are to blame for letting this corruption go on.
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