Your daily dose of news and tidbits from the world of money in politics:

GOLDMAN SACHS A POPULAR INVESTMENT FOR LAWMAKERS: While the Securities and Exchange Commission endeavors to whack Goldman Sachs for alleged fraud, it’s worth noting that another government entity — Congress — is deeply invested in the company. Quite literally. While the Securities and Exchange Commission endeavors to whack Goldman Sachs for alleged fraud, it’s worth noting that another government entity — Congress — is deeply invested in the company. Quite literally.

In 2008, Goldman Sachs tied for 26th place among the most popular personal investments by members of Congress, a Center for Responsive Politics analysis of mandatory congressional financial filings indicates.

Two members — Randy Neugebauer (R-Texas) and Jim Himes (D-Conn.) disclosed owning Goldman Sachs stock or other Goldman Sachs-related investments valued in the hundreds of thousands of dollars, while 11 other members reported Goldman assets somewhere between $10,000 and $100,000, the Center’s research indicates.

(Update, April 22🙂 Himes’ communications director, Elizabeth Kerr, told Capital Eye that Himes in 2009 “divested himself completely of any interest in financial institutions, including Goldman Sachs” upon joining the Financial Services Committee, and “his 2009 financial disclosure form to be released in May will confirm these sales.”

(Update, April 28:) Neugebauer’s chief of staff, Jeanette Whitener, emphasized in an e-mail that her boss’ Goldman Sachs-related investments are not, and have never been, in Goldman Sachs stock. “He is a customer of Goldman Sachs through a brokerage account which includes investments similar to mutual funds,” she wrote. “As a member of the Financial Services Committee, Congressman Neugebauer does not own stock in any financial institutions.”

Notable members of the five-figure club include House Minority Whip Eric Cantor (R-Va.), Rep. Jane Harman (D-Calif.) and Sens. Kit Bond (R-Mo.) and Ben Nelson (D-Neb.).

Note that federal lawmakers are only required to report their assets in broad ranges, and 2008 is the most recent year for which personal financial disclosures are available. It’s unknown how many members of Congress, a Senate panel of which is expected to soon release results of a separate inquiry into Goldman Sachs, at this moment invest in the company.

In all, 28 members of Congress in 2008 reported some level of investment in Goldman Sachs.

GUN PROVISION SHOOTS DOWN D.C. VOTING RIGHTS BILL: A bill to expand the District of Columbia’s voting rights — tantamount to granting District residents congressional representation — is effectively dead, the result of an amendment to the bill that would have wiped out many of the District’s gun laws, the Washington Post A bill to expand the District of Columbia’s voting rights — tantamount to granting District residents congressional representation — is effectively dead, the result of an amendment to the bill that would have wiped out many of the District’s gun laws, the Washington Post reports

House Majority Leader Steny Hoyer (D-Md.) described his decision to scuttle the bill as one of “extraordinary disappointment” but that the “price was too high” to move it forward.

The National Rifle Association, which had pushed for the amendment, won’t get what it wants , either. The bill, Hoyer says, is unlikely to come up the rest of the year, gun amendment or not.

The NRA is a consistent federal lobbying force, spending at least $1.5 million on lobbying efforts each year since 2001, the Center’s research shows. In 2009, the NRA recorded its strongest lobbying output since 1998, spending more than $2 million to influence the federal government.

CENTER FOR RESPONSIVE POLITICS, IN THE NEWS: In a front-page article today, the Washington Post‘s R. Jeffrey Smith Post, which also quotes In a front-page article today, the‘s R. Jeffrey Smith writes that both the Democratic National Committee and Republican National Committee have this election cycle spent tens of millions of dollars on such items as limousines, hotels, meals, tips and a variety of swag. This information comes from a report the Center for Responsive Politics produced for the, which also quotes Sheila Krumholz , the Center’s executive director …

Rich Blake at ABC News also highlights a study the Center produced for the network about how the five biggest political donors from the hedge fund industry contributed most of their cash to Democrats …



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]

·

·

·

·

·

·

Support Accountability Journalism At OpenSecrets.org we offer in-depth, money-in-politics stories in the public interest. Whether you’re reading about 2020 presidential fundraising, conflicts of interest or “dark money” influence, we produce this content with a small, but dedicated team. Every donation we receive from users like you goes directly into promoting high-quality data analysis and investigative journalism that you can trust. Please support our work and keep this resource free. Thank you. Support OpenSecrets ➜

Read more OpenSecrets News & Analysis: