JPMorgan and Goldman Sachs Join U.S. Corporations Halting Political Donations After Capitol Riot

[Wicked Blue]

Source: CNBC

By Hugh Son, CNBC • Published January 11, 2021

JPMorgan Chase and Goldman Sachs announced six-month pauses in contributions for Republicans and Democrats.

Citigroup told employees it is suspending PAC donations to all lawmakers during the first quarter.

Of the six biggest U.S. banks, only Morgan Stanley made it clear that it will not make donations to members of Congress who opposed the Electoral College certification of Biden.

JPMorgan Chase, Goldman Sachs and Citigroup announced temporary suspensions of political donations following last week's invasion of the U.S. Capitol by a mob of Trump supporters.

JPMorgan, the biggest U.S. bank by assets, is pausing political action committee contributions for Republicans and Democrats for "at least" the next six months, spokesman Steve O'Halloran said. The New York-based bank will use that time to consider changes to its political-donation strategies.

Read more: https://www.nbcwashington.com/news/business/money-report/jpmorgan-and-citigroup-join-u-s-corporations-halting-political-donations-after-capitol-riot/2536691/

[SamKnause]

1. Fuck you !!!

[Wicked Blue]

4. I assume you said that to Goldman-Sachs, etc. and not me nt

[SamKnause]

5. You assume correctly.

Why would I say that to you ???

[fearnobush]

2. So let's punish the Dems too for ReTrumplican sedition.

Fuck you banks pulling all funds does nothing

[NoMoreRepugs]

3. I look forward to the reasoning behind the what I consider to be a bothsiderism decision.

[William Seger]

12. Simple: They're chickenshits who think this will appease both sides

But really, I can't get too upset about them not donating at all. Any Democrat who depends on them needs to find alternate funding.

[h2ebits]

6. Wow! Happy to see this.

Corporations are NOT PEOPLE my friends. The Citizens United ruling has allowed them to take over our country. The less money that I see coming in from them, the happier I will be. We need to put laws in place to stop these PACS.

[ananda]

7. Why punish Dems?

This stinks!

[apcalc]

8. Exactly. They have no balls.

[Wicked Blue]

9. They probably hope to escape Retrumplican wrath

by playing the both-sides card

[ananda]

17. Sheesh

Cowards

[Backseat Driver]

10. I guess I'm apt to indelicately pose questions regarding

their "pause" to be something of a mindfulness "corporate personhood" meditation upon the possible effects of alternative digital currencies???

Ommmmmmmm.....

[LudwigPastorius]

15. Either that, or they're...

in their board meetings saying, "I know a fascist dictatorship would be bad for a lot of people, but probably not for us. I mean, just LOOK at how the markets did this year! Let's step back for a minute and make sure we're backing the right horse for profits here."

[mdbl]

11. They should not be contributing money anyway

but in this case, what is the logic behind punishing all members?

[pecosbob]

13. Shell corporations will no longer be anonymous. All political donations will be public.

The new Defense Authorization Act passed over Trump's veto requires Treasury to maintain a database of all shell corporations in the U.S. If Congressional statutes are drafted accordingly they will now be able to eliminate dark money in campaign contributions. I wonder if the new law has anything to do with their decisions?

[inwiththenew]

14. That's one way to get big business out of politics

[lagomorph777]

16. Both-siderism at its finest. So brave, Golden Sacks!