May 1, 1997

Invested Interest

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Invested Interest

At Goldman Sachs, he calculates political dividends.

by Rachel Burstein

#38 Jon S. Corzine, 50, Summit, N.J. Party: Both. $251,750 total contributions.

View Corzine’s itemized contributions.

Jon Corzine heads Goldman Sachs, the richest Wall Street investment partnership. Corzine makes large DNC contributions, but other Goldman executives and the firm’s PAC also gave heavily last year to the GOP.

That’s because Congress is again eyeing the Glass-Steagall Act, a 1933 law designed to protect consumers by separating commercial from investment banking. Goldman wants barriers removed that prevent it from offering banking and insurance services. The administration, led by Treasury Secretary Robert Rubin (Corzine’s predecessor at Goldman), promises to support liberal banking reform. But Glass-Steagall supporters fear deregulation will mean consumers get peddled financial services they don’t need, and that commercial banks will engage in riskier speculation that might threaten their solvency.

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With just hours left, we need a huge surge in reader support to get to our $400,000 year-end goal. Whether you've given before or this is your first time, your contribution right now matters. All gifts are 3X matched and tax-deductible.

Managing an independent, nonprofit newsroom is staggeringly hard. There’s no cushion in our budget—no backup revenue, no corporate safety net. We can’t afford to fall short, and we can’t rely on corporations or deep-pocketed interests to fund the fierce, investigative journalism Mother Jones exists to do. That’s why we need you right now. Please chip in to help close the gap.

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