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Derivatives: Voting 'NO' Means Having More Campaign Cash

Submitted by Monica Rober on Wed, 04/21/2010 - 19:57

A new press release by Public Campaign and Common Cause Education Fund highlights the correlation between the recent Senate Agriculture Committee vote on derivatives and the amount of money senators on the committee received from the financial industry. The eight senators who voted against the legislation received an average of 30 percent more in campaign contributions than those who supported the bill."The Senators that voted in favor of the legislation—deemed too tough by many Wall Street firms—have received, on average, $1,106, 814 from financial interests from 2005 to today. Those Senators that voted against the legislation received, on average, $1,429,945 from the industry—a difference of more than $300,000." Click here to read the full press release.

  • Congress
  • Fair Elections Now Act
  • financial industry
  • Financial reform

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