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.