Tuesday, September 06, 2016

Goldman Sachs Bans Employees from Donating to Trump

MSN reports:
Goldman Sachs has enacted a set of rules that bans the firm’s top employees from contributing to certain campaigns, including the Trump-Pence ticket.

The rules kicked in Sept. 1 and will apply only to partners of the firm. The firm says the rules were meant to remove any implication of so-called “pay to play.” Four years ago, the bank paid $12 million to settle charges that a former Boston-based banker had picked up bond underwriting business in the state while working for and contributing funds to the campaign of a then Massachusetts state treasurer and governor-hopeful, Tim Cahill.

But the people in the Trump campaign are sure to question the timing. That’s because the rules ban donations to politicians running for state or local offices, as well as donations to state officials who are seeking federal office. That makes campaign contributions to the Trump-Pence ticket a no-no. Pence is the current governor of Indiana.

At the same time, the rules do not restrict donations to Clinton-Kaine. Kaine is a U.S. Senator for Virginia, and not considered a local official under Goldman’s rules. Lloyd Blankfein, Goldman’s CEO, has declined to say who he is supporting for president. But is known as a long-time Clinton supporter. Blankfein donated to Clinton when she ran against Obama is 2008.

Goldman declined to comment on this story.

Imagine that.