Madoff and Company Spent Nearly $1 Million on Washington Influence
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The man behind a $50 billion Ponzi scheme that has roiled Wall Street and shaken up the nonprofit world was also a long-time contributor to Democrats, the nonpartisan Center for Responsive Politics has found. Bernard Madoff was arrested last Thursday and charged with operating a fraudulent money-management business with which he advised investors, hedge funds and institutions, including charitable foundations. Madoff made a fortune, and he played politics with some of that money. In total, he and his wife, Ruth, have given $238,200 to federal candidates, parties and committees since 1991, with Democrats getting 88 percent of that. Overall, Madoff and other individuals at his company, Bernard L. Madoff Investment Securities, gave $372,100 in campaign contributions since 1991, with 89 percent to Democrats. The firm spent $590,000 on lobbying in the last 11 years, all but $10,000 of it with the lobbying firm of Lent, Scrivner & Roth.
The following party committees, PACs and current members of Congress have received contributions from Madoff and his wife since the 1992 election cycle:
|
Name |
Party |
Total |
| Democratic Senatorial Campaign Cmte |
D |
$102,000 |
| Securities Industry Assn |
$31,000 |
|
| Wyden, Ron | D |
$13,000 |
| Schumer, Charles E |
D |
$12,000 |
| Markey, Edward J |
D |
$10,000 |
| Securities Industry & Financial Mkt Assn |
$10,000 |
|
| Lautenberg, Frank R |
D |
$8,600 |
| Merkley, Jeff | D |
$2,300 |
| Clinton, Hillary |
D |
$2,000 |
| Rangel, Charles B |
D |
$2,000 |
| Towns, Edolphus | D |
$2,000 |
| Dodd, Christopher J |
D |
$1,500 |
| Ackerman, Gary | D |
$1,200 |
| Dingell, John D | D |
$1,000 |
| Obey, David R | D |
$1,000 |
| Matheson, Jim | D |
$250 |
| National Abortion Rights Action League |
$250 |