Invested Interest

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Invested Interest

At Goldman Sachs, he calculates political dividends.

by Rachel Burstein

#38 Jon S. Corzine, 50, Summit, N.J. Party: Both. $251,750 total contributions.

View Corzine’s itemized contributions.

Jon Corzine heads Goldman Sachs, the richest Wall Street investment partnership. Corzine makes large DNC contributions, but other Goldman executives and the firm’s PAC also gave heavily last year to the GOP.

That’s because Congress is again eyeing the Glass-Steagall Act, a 1933 law designed to protect consumers by separating commercial from investment banking. Goldman wants barriers removed that prevent it from offering banking and insurance services. The administration, led by Treasury Secretary Robert Rubin (Corzine’s predecessor at Goldman), promises to support liberal banking reform. But Glass-Steagall supporters fear deregulation will mean consumers get peddled financial services they don’t need, and that commercial banks will engage in riskier speculation that might threaten their solvency.

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Fact:

In-depth journalism that investigates the powerful takes real money and is so damn important right now.But it doesn’t take a Mother Jones investigation to know that billionaires and corporations will never fund the type of reporting (like they do politicians) we do that exists to help bring about change. Instead, our mission-driven journalism is made possible by people power, and has been for 46 years now since our founding as a non-profit.

In “TITLE TK” Monica Bauerlein writes about the perilous moment we’re in, and why it’s so important that we raise $325,000 by the time November’s midterms are decided so we can be ready to throw everything we have at the big issues facing the nation no matter what happens. Please help MoJo’s people-powered journalism with a donation today.

$400,000 to go!

payment methods

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