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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DEMOCRACY DOES NOT EXIST...

without free and fair elections, a vigorous free press, and engaged citizens to reclaim power from those who abuse it.

In this election year unlike any other—against a backdrop of a pandemic, an economic crisis, racial reckoning, and so much daily bluster—Mother Jones' journalism is driven by one simple question: Will America move closer to, or further from, justice and equity in the years to come?

If you're able to, please join us in this mission with a donation today. Our reporting right now is focused on voting rights and election security, corruption, disinformation, racial and gender equity, and the climate crisis. We can’t do it without the support of readers like you, and we need to give it everything we've got between now and November. Thank you.

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