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View Full Version : Goldman sachs says ok to donate to hillary but NOT trump??



garhkal
09-09-2016, 05:36 AM
And in other news, i saw this while checking out the latest story on bankers being screwed up.. (WELLS FARGO).

http://louderwithcrowder.com/1-goldm...onating-trump/

Wall Street firm announced that all Goldman Sachs partners would no longer be allowed to make campaign contributions to “candidates running for state and local offices, as well as sitting state and local officials running for federal office.”

The memo explicitly mentions that donations to the Donald Trump presidential campaign would fall under the new restrictions, because Trump’s running mate, Mike Pence, is a sitting governor. Goldman Sachs partners are advised not to contribute money to a “federal candidate who is a sitting state or local official, including their Political Action Committees (PACs).”

Donations to the Hillary Clinton-Tim Kaine campaign, meanwhile, appear to be permissible under the new policy. Goldman Sachs has yet to clarify this apparent discrepancy. Tim Kaine is currently a sitting Senator from Virginia, but would not count as a “state or local official” under Goldman’s rules.
In essence saying "Donate to hillary or not at all.'

Sorry but how is that even legal??

http://money.cnn.com/2016/09/06/inve...ons/index.html

http://www.independent.co.uk/news/wo...lls-employees-they-cannot-donate-to-trump-campaign-but-no-restriction-on-clintons-a7230021.html

So if by the reasoning the shipps in charge gave, "We can't give to someone sitting in office, why then is that not applying to a sitting senator (TIM KANE, Hillary's running mate)??

Rusty Jones
09-09-2016, 12:04 PM
And in other news, i saw this while checking out the latest story on bankers being screwed up.. (WELLS FARGO).

http://louderwithcrowder.com/1-goldm...onating-trump/


Sorry but how is that even legal??

http://money.cnn.com/2016/09/06/inve...ons/index.html

http://www.independent.co.uk/news/wo...lls-employees-they-cannot-donate-to-trump-campaign-but-no-restriction-on-clintons-a7230021.html

So if by the reasoning the shipps in charge gave, "We can't give to someone sitting in office, why then is that not applying to a sitting senator (TIM KANE, Hillary's running mate)??

If he's a US Senator (as opposed to a state level senator on a state government's legislative branch), then he holds federal level office. He's on federal payroll. Unlike what the article is saying, Tim Kaine holding federal office is not based on Goldman Sachs' own perception/interpretation/definition of what federal office is. No, Tim Kaine IS holding federal office.

Mjölnir
09-09-2016, 12:27 PM
And in other news, i saw this while checking out the latest story on bankers being screwed up.. (WELLS FARGO).

http://louderwithcrowder.com/1-goldm...onating-trump/


Sorry but how is that even legal??

http://money.cnn.com/2016/09/06/inve...ons/index.html

http://www.independent.co.uk/news/wo...lls-employees-they-cannot-donate-to-trump-campaign-but-no-restriction-on-clintons-a7230021.html

So if by the reasoning the shipps in charge gave, "We can't give to someone sitting in office, why then is that not applying to a sitting senator (TIM KANE, Hillary's running mate)??

It isn't not so much that the employees cannot donate to Trump, they cannot donate to Pence, but they are on the same electoral ticket.

Governor Pence is the current Governor of Indiana. Goldman Sachs manages the Indiana State Employees Pension Plan. Indiana state law prohibits employees of a company doing official business with the state from making campaign contributions that benefit an 'officer of the state', which Governor Pence is.

Sen. Kaine is from Virginia, but is a federal officer. No similar federal law (nor Virginia law).

Bos Mutus
09-09-2016, 03:48 PM
Governor Pence is the current Governor of Indiana. Goldman Sachs manages the Indiana State Employees Pension Plan. Indiana state law prohibits employees of a company doing official business with the state from making campaign contributions that benefit an 'officer of the state', which Governor Pence is.

Interesting. I can see the reasoning for a law like that...but, I'd imagine Indiana state does official business with a lot of companies.

I see a potential problem here. Are they likewise prohibited from donating to candidates for state offices who are not yet sitting 'officers of the state'? Can these employees can only donate to non-incumbents?

Also...what of the Merrill Lynch employees who don't handle the Pension Plan, but would very very very very much like to...they are allowed to donate to Pence?

Does Proctor and Gamble sell cleaning supplies to the state of Indiana?

garhkal
09-09-2016, 06:22 PM
If he's a US Senator (as opposed to a state level senator on a state government's legislative branch), then he holds federal level office. He's on federal payroll. Unlike what the article is saying, Tim Kaine holding federal office is not based on Goldman Sachs' own perception/interpretation/definition of what federal office is. No, Tim Kaine IS holding federal office.

So their reasoning "Don't support trump cause his running mate is a sitting governor", while at the same time giving a pass to hillar-kaine is showing WILLFUL bias, and to ME is against campaign finance laws in some way.

Rusty Jones
09-09-2016, 06:44 PM
So their reasoning "Don't support trump cause his running mate is a sitting governor", while at the same time giving a pass to hillar-kaine is showing WILLFUL bias, and to ME is against campaign finance laws in some way.

Oh, I'm sure it is wilfull bias. But Goldman Sachs is not a government organization; they have that right. In any case, what I'm saying still the case: Mike Pence holds executive office at the state level; Tim Kaine holds legislative office at the federal level, so that's why one can receive campaigh donations and the other can't.

Now did Goldman Sachs make this rule in order to fuck Trump and get Clinton in office? Probably. But that's not what I'm arguing.