Mitt Romney Backed by Goldman Sachs, Bailout Banks

The top donor to former Massachusetts Gov. Mitt Romney’s presidential campaign, investment banking and securities firm Goldman Sachs, received over $10 billion in emergency lending and bailouts from the Federal Reserve after the 2008 financial meltdown, according to public sources and published reports.

Goldman backed Obama for election in 2008, and the firm, like many Wall Street institutions, is now backing Mitt Romney for president.


Romney has long had a close relationship with Goldman Sachs. In 1999 Romney purchased initial IPO shares in Goldman that netted him $1.1 million in profits when he sold them in 2010. And The New York Times recently reported that “many of the assets in Romney’s blind trust” are managed by Goldman.

Today, Goldman is Romney’s largest donor. And nine of Romney’s top 20 campaign contributors are big Wall Street Banks like Goldman. But Goldman leads all Romney contributors, having donated $367,200 to his campaign, according to the Center for Responsive Politics. And six of those nine top contributors received over $161 billion in taxpayer bailouts, reports ProPublica, the independent, Pulitzer Prize-winning investigative organization. (Continues)