Chris Dodd’s Big Money Funders

Photo courtesy of flickr user Randy Bayne.

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You may have seen a Connecticut Post report floating around the Internet this morning that looks at Sen. Chris Dodd’s fundraising report from the first quarter of 2009 and finds that there are only five citizens from Connecticut who donated. Those five plucky Nutmeg Staters gave a total of $4,250. Dodd has a 33 percent popularity rating and is losing in hypothetical match-ups to basically every Republican pollsters can find. The citizens of CT clearly don’t want him around. So how did Dodd raise $1,048,674 in just three months?

As Daniel Schulman and I report in our story today, it mostly came from Big Finance. Here’s the breakdown. Executives and PACs representing banks, financial services companies, and real estate brokerages gave Dodd at least $299,000. (NB: That means the folks that Dodd, chairman of the Banking committee, is supposed to oversee gave 70 times more than the folks Dodd is supposed to represent.) Insurers and health care interests gave $48,000. And lobbyists, many of whom have Wall Street clients, chipped in $62,800 more.

So there you have it. It’s no wonder the folks that Dodd represents aren’t terribly excited about having him back. It’s not clear who he represents anymore.

Update: Keep in mind, there is a way to eliminate this whole money-in-politics game….

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Thank you!

We didn't know what to expect when we told you we needed to raise $400,000 before our fiscal year closed on June 30, and we're thrilled to report that our incredible community of readers contributed some $415,000 to help us keep charging as hard as we can during this crazy year.

You just sent an incredible message: that quality journalism doesn't have to answer to advertisers, billionaires, or hedge funds; that newsrooms can eke out an existence thanks primarily to the generosity of its readers. That's so powerful. Especially during what's been called a "media extinction event" when those looking to make a profit from the news pull back, the Mother Jones community steps in.

The months and years ahead won't be easy. Far from it. But there's no one we'd rather face the big challenges with than you, our committed and passionate readers, and our team of fearless reporters who show up every day.

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