Jeb Bush Is Beating Hillary Clinton in the Goldman Sachs Primary

The GOP contender has raised more cash from the Wall Street giant—but his rivals are close behind.

Goldman Sachs: Richard Drew/AP; Hillary Clinton: Li Muzi/ZUMA; Jeb Bush: Brian Cahn/ZUMA

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Over the past three months, Goldman Sachs employees have donated more than $147,000 to Jeb Bush’s presidential campaign, helping him to an early lead in what might be called the Goldman Sachs primary. But winning the biggest share of contributions from the controversial, economic-crash-enhancing investment firm isn’t going to be a cakewalk for Bush. At least three other major presidential candidates—including Hillary Clinton, who has longstanding ties to the Wall Street giant—have bagged money from Goldman, with two of them using Goldman Sachs lobbyists to raise money for their campaigns.

Bush’s biggest rival in the Goldman money chase is his fellow Floridian, Sen. Marco Rubio. Rubio’s campaign snagged just over $60,000 from Goldman Sachs. And Rubio has a Goldman insider hitting up his own network of wealthy friends for contributions. One of the three registered lobbyists bundling donations for Rubio is Joe Wall, a vice-president for government affairs at Goldman Sachs. Wall has so far reported bundling more than $90,000 for Rubio.

Clinton, the Democratic front-runner, places third in in the Goldman sweepstakes. Her campaign reported raising at least $49,000 from Goldman Sachs donors. Like Rubio, she has a registered Goldman Sachs lobbyist drumming up donations on her behalf. According to the campaign’s filings, Steve Elmendorf, a major name on K Street, has bundled more than $141,000 for Clinton. Elmendorf’s many clients include Churchill Downs, the NFL, and the Human Rights Campaign—and Goldman Sachs. Clinton also has a history of raising big bucks from Goldman-ites. In 2008, her presidential campaign brought in more than $407,000 from the firm.

At the back of this pack is Sen. Ted Cruz (R-Texas), who has raised a mere $10,100 from Goldman Sachs employee. That’s something of a surprise, given that Cruz has a personal connection to the bank. His wife, Heidi Nelson Cruz, is a managing director at Goldman Sachs, though she has taken unpaid leave from the bank for the duration of her husband’s campaign. Even so, Cruz’s senatorial campaign previously raised $69,000 from Goldman Sachs employees, making the investment bank the fourth largest source of cash for the campaign that brought him to Washington and the national stage.

Among the other top-tier candidates, neither Rand Paul nor Bernie Sanders had any identifiable donations from a Goldman Sachs. (Scott Walker hasn’t filed any campaign disclosure forms yet.)

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SIX TRUTHS

Reclaiming power from those who abuse it often starts with telling the truth. And in "This Is How Authoritarians Get Defeated," MoJo's Monika Bauerlein unpacks six truths to remember during the homestretch of an election where democracy, truth, and decency are on the line.

Truth #1: The chaos is the point.

Truth #2: Team Reality is bigger than it seems.

Truth #3: Facebook owns this.

Truth #4: When we go to work, we're in the fight.

Truth #5: It's about minority rule.

Truth #6: The only thing that can save us is…us.

Please take a moment to see how all these truths add up, because what happens in the weeks and months ahead will reverberate for at least a generation and we better be prepared.

And if you think journalism like Mother Jones'—that calls it like it is, that will never acquiesce to power, that looks where others don't—can help guide us through this historic, high-stakes moment, and you're able to right now, please help us reach our $350,000 goal by October 31 with a donation today. It's all hands on deck for democracy.

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