Stanford Financial Group

Obama, Ney and DeLay Also Among Stanford's Investments
Published by Lindsay Renick Mayer on February 18, 2009 7:03 PM | Permalink | Comments (0)

As the story behind the embattled investment company Stanford Financial Group develops, we thought we'd take an even closer look at the seeds the company may have tried to plant in Washington via campaign contributions. When looking at ALL lawmakers to collect money from the company's PAC and employees (not just members of the current Congress), some additional, important names appear at the top of the recipient list.

President Obama ranks third among individual lawmakers, having collected $31,750 from the company's employees during his 2008 presidential bid, including $4,600 from Allen Stanford, the firm's leader. Former Rep. Bob Ney (R-Ohio), who served prison time for his role in the Jack Abramoff lobbying scandal, received $28,200 (this includes contributions to Ney's candidate committee and leadership PAC). Former House Majority Leader Tom DeLay (R-Texas), who reportedly flew on Stanford's jet, collected $20,100 from the company between the 2000 and 2006 election cycles.

As we reported yesterday, between its PAC and its employees, Stanford Financial Group has given $2.4 million to federal candidates, parties and committees since 2000, with 65 percent of that going to Democrats. Stanford and his wife, Susan, have given $931,100 out of their own pockets, with 78 percent going to Democrats.

The following party committees and members of Congress, past and present, have received contributions from the PAC and/or employees of Stanford Financial Group since 2000 (including contributions to both candidate committees and leadership PACs):