Wall Street ponies up for Obama inauguration
It’s been a brutal year for Wall Street, but the high rollers apparently still love a big, expensive party.
People who work in the finance industry have given at least $4.8 million to underwrite Barack Obama’s inauguration party, more than any other business sector, according to an analysis by the watchdog Center for Responsive Politics.
Obama’s team appears to have reached the $40 million goal it set to pay for the festivities. Roughly $6.8 million has come from those giving less than $200, according to the committee. But large donors have given at least $35 million.
While U.S. citizens can only give a maximum of $4,600 to help a candidate win office, there’s no legal limit to contributions for inaugural parties.
Obama’s Presidential Inaugural Committee has set a donor limit of $50,000, and has placed the names of large donors online in what the committee says is an unprecedented display of transparency.
Among those who gave the maximum: actresses Sharon Stone and Halle Barry (pictured); Microsoft Corp. founder Bill Gates and his wife Melinda; Microsoft CEO Steve Ballmer and his wife; filmmakers Steven Spielberg and George Lucas; Motown founder Berry Gordy and music mogul Antonio “LA” Reid.
Financier George Soros, a prominent underwriter of liberal causes, and extended family contributed at least $250,000.
Let’s jump in the way back machine and see who paid for Bush’s inauguration?
The tab for the 2005 inauguration was paid by ExxonMobil, ChevronTexaco, Cinergy Corp, Ford Motor Co, Occidental Petroleum, Pfizer, TimeWarner, UPS and Wachovia
In addition, more than 60 wealthy individuals have donated at least $25,000 of their personal money to the inauguration committee. And more ten of these rich contributors have given the $250,000 limit.
Notice that oil companies top the list, oil companies that until this fall steadily jacked the price of gas and home heating. Now that’s “pay for play” right there baby!