The day-long grilling Tuesday of top Goldman Sachs executives by the Senate Permanent Subcommittee on Investigations proved long on drama, as senators from both parties chimed in with tough questions, sensitive to the widespread public outrage at Wall Street.

But beneath that stormy surface, a political subplot: Many of those inquisitors have been major recipients of embattled Goldman Sachs’ political largesse over the years.

The committee’s 10 senators have together received more than a half-million dollars in total campaign contributions from a combination of Goldman Sachs’ political action committee and its employees and their families, research by the Center for Responsive Politics indicates. Top recipients include John McCain (R-Ariz.), Susan Collins (R-Maine) and Tom Carper (D-Del). (Download a full list here: senatesubcommitteelist.xls )

And as the Securities and Exchange Commission continues to pursue a federal lawsuit alleging Goldman Sachs fraud, people and political action committees associated with the financial giant have this election cycle donated five-figure sums to a dozen members of Congress, the Center’s research indicates.

Such political cash flow comes at a time when Democrats have been pushing and continue to push for passage of a financial regulatory reform bill aimed at strengthening Wall Street oversight.

Rep. Michael McMahon (D-N.Y.) was the top target of Goldman cash, bringing in more than $50,000 from the influential company. Both senators from New York — Charles Schumer (D-N.Y.) and Kirsten Gillibrand (D-N.Y.) — received more than $20,000 from people and PACs associated with Goldman Sachs.

Chris Dodd (D-Conn.), chairman of the Senate Banking Committee and coordinator of financial reform bill efforts, has also received cash from those associated with Goldman Sachs even though he is not seeking reelection.

Members of the Senate Banking Committee collected more than $86,000 so far this election cycle — significantly more than Goldman Sachs’ donations to any other Senate committee. Members of the House Financial Services Committee have received just under $100,000, more than any other committee in the House.

The primary recipients of donations from those associated with Goldman Sachs are Democrats. Altogether, Democratic members of Congress have gathered $332,000 this election cycle — about 75 percent more than the amount donated to Republicans.

It is still relatively early in the 2010 election cycle, with a significant amount of candidates’ fund-raising yet to occur. Therefore, these Goldman Sachs-related figures are expected to increase.

In the 2008 election cycle, Barack Obama and Hillary Clinton were top recipients of Goldman-related cash. Obama ($994,795) and Clinton ($389,750) collected six-figure sums along with five other candidates.

Among elected federal politicians still in office today, the all-time recipients of money from people and PACs related to Goldman Sachs are: Obama with $1.06 million; Schumer, with $496,040; McCain (R-Ariz.) with $382,465; Sen. John Kerry (D-Mass.) with $356,750 and Sen. Robert Menendez (D-N.J.) at $204,700.

For a complete listing of Goldman Sachs-related money to federal politicians, download a Center for Responsive Politics listing here: goldmansachslisting.xls

Center for Responsive Politics Senior Researcher Doug Weber contributed to this report



For permission to reprint for commercial uses, such as textbooks, contact the Center: Feel free to distribute or cite this material, but please credit the Center for Responsive Politics.For permission to reprint for commercial uses, such as textbooks, contact the Center: [email protected]

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