Magazine article American Banker

Bradley Tops in Donations by Big-Bank Staff Members

Magazine article American Banker

Bradley Tops in Donations by Big-Bank Staff Members

Article excerpt

Helped by his deep roots and storied past in the New York area, Democratic presidential candidate Bill Bradley is first among presidential candidates in terms of pulling in contribution money from employees of the nation's five biggest bank holding companies.

Living up to his nickname, "Dollar" Bill, which he acquired during his years with the championship New York Knicks basketball team, not the U.S. Senate, Mr. Bradley appears to be benefiting from both geography and a perception that Wall Street would gain a friend in the White House if he were to win.

Employees at the five largest banking companies, led by those at Citigroup Inc., gave $577,715 to the Bradley campaign in 1999.

"His relationship with Wall Street has always been good," said Tony Raymond, a former Federal Elections Commission officer and co-founder of FECinfo, which compiled the data.

"It's been a long time since you've had a viable candidate from the Northeast," Mr. Raymond added.

George W. Bush ranked second among bank employee contributions, with $187,010 at the end of the year. He was followed by Al Gore, who received $88,180 in contributions from employees at the five largest banking companies, and John McCain, who raised $27,675.

Total contributions from these banks' employees are probably much higher, since a large portion of the contributors to all four candidates did not specify their employer. Texas Gov. Bush's campaign, for instance, received over $22 million from individuals who did not reveal their employer. The totals do not include money donated by an individual's spouse or child.

Still, the data underline the influence banks with a strong profile in securities and investment banking are having on the campaign.

Of the $105,200 contributed by Citigroup employees to Bill Bradley's campaign, 83% came from individuals at Salomon Smith Barney, the company's brokerage and investment bank. …

Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.