While Ponzi-scheming financier Bernie Madoff was busy looting money from his clients, he was also pumping campaign cash to Democratic causes and candidates in Washington.
According to the Center for Responsive Politics, Madoff and other individuals at his firm spent nearly $1 million trying to influence Washington. Of that money, $590,000 went to the lobbying firm Lent, Scrivner & Roth.
An overwhelming majority of the rest of the money went to Democratic causes and candidates. The CRP found 88 percent of donations from Madoff and his wife, Ruth, went to Democratic federal candidates, parties and committees.
The chief beneficiary of donations from the Madoffs was the Democratic Senatorial Campaign Committee. Together, the couple gave the group $102,000. Former DSCC Chairman Sen. Chuck Schumer (N.Y.) also reaped Madoff’s money. Schumer received $12,000 from the disgraced financier and his wife.
Other recipients include a slew of Washington’s liberal powerhouses.
Here’s a partial list:
Ron Wyden: $13,000
Edward Markey: $10,000
Frank Lautenberg: $8,600
Hillary Clinton: $2,000
Charles Rangel: $2,000
John Dingell: $1,000
David Obey: $1,000
The Madoffs also gave $10,000 to the Securities Industry & Financial Market Association and $250 to the National Abortion Rights Action League.
The only question is, will these politicians and groups consider donating their Madoff money to charity now that he has pled guilty to stealing more than $65 billion?
UPDATE: Various people have suggested to me through the comment section below and on Twitter that instead of donating the money to charity those who recieved Madoff money should give the money to a fund for the victims of his crimes.