It was announced this morning that the Securities and Exchange Commission has accused Goldman Sachs "of securities fraud in a civil suit filed Friday...which claims the bank created and sold a mortgage investment that was secretly devised to fail."
The firm is a major player on Wall Street—and K Street in Washington, D.C. Leading up to the economic bust in 2008 and continuing to today, the firm has spent millions dollars on lobbying and campaign contributions.
Here are the facts:
- Since 1998, Goldman Sachs employees and its political action committee (PAC) have donated $26,392,646 to federal candidates.
- In 2009, the firm spent $2,830,000 on to lobby Congress in 2009. That total includes the fees for 49 registered lobbyists.
- In the 2008 election cycle, Goldman employees and its PAC were the largest contributor to elections from the securities and investment industry.
The data provided above is analyzed by Public Campaign Action Fund using data from the Center for Responsive Politics.