The Wall Street Journal has a story this week about how the biggest Wall Street donors to Hillary Clinton during her 2016 presidential campaign have given $12.3 million in the past year to her campaign, including $3.8 million that has been tied to a political action committee that supported the Clintons.
The story, which is based on documents that The Journal obtained from the Federal Election Commission, comes as the Wall Street super-rich are increasingly worried about a Trump presidency and are trying to distance themselves from their political leaders.
The super-PAC, Correct the Record, which was founded by the Democratic strategist David Brock, has raised $7.7 million, according to FEC records.
But Correct the First PAC, which has not disclosed its donors, has given more than $2 million to Clinton, the most of any super- PAC.
The PAC, headed by David Brock’s daughter, Chelsea, has also raised money from major Wall Street titans, including Goldman Sachs Chairman Lloyd Blankfein, the hedge fund billionaire Richard Branson and Citigroup’s Jamie Dimon.
Clinton has called the super-donors’ efforts to distance herself from Wall Street “disgusting.”
And her campaign is now facing pressure from Democratic senators to release their donors’ names.
“This is why we need to see their tax returns,” said Sen. Bernie Sanders (I-Vt.), a presidential candidate who is running for the Democratic nomination.
“We have got to have transparency, and it is outrageous that we are hiding donors’ identities.”
Correct the Correct Hillary Clinton, a super-pac backing the former secretary of state, has received more than a dozen donations from hedge fund executives, according a review of Federal Election Center (FEC) data by The Journal.
But there are other donors to the PAC, including a handful of wealthy donors who have been on the board of directors for at least three other hedge funds.
The Wall Hill super-charity has received money from Wall street’s most influential donors, including David Geffen, hedge fund manager and Hollywood mogul David Geiger; John Paulson, chief executive of Goldman Sachs; and Paul Singer, the billionaire investor who co-founded the hedge-fund titan Elliott Management.
Some of these Wall Streeters have donated to Hillary’s campaign.
The money they’ve given to Correct the Hillary Clinton is a tiny fraction of the $32 million it raised, according the Journal’s analysis.
They have given less than half the amount that Correct the Right has raised, with just $12,000.
The biggest donors have given to the super PAC in the first quarter, according its FEC filings.
The hedge funders have given about $16.8 to Correct The Right.
But some Wall Street moguls have contributed more.
In fact, hedge- fund titan John Paulsen, who founded Elliott, gave $12 million to the Correct The Hillary Clinton PAC in March.
Singer, who cofounded Elliott, has donated about $7 million to Corrected The Hillary, according FEC records, and Branson, the former CEO of Virgin Atlantic, has contributed $1.2 million.
Geiger, who is also a partner at Elliott, said he’s concerned about Trump’s presidency and has donated to the Clinton campaign in the last two elections.
Geffen said he would prefer a Clinton administration that “is not hostile to Wall Street,” but “there is nothing hostile to me on that front.
The Clinton campaign has said, ‘You are going to have to do more to help us, but you are not going to do anything to help them,'” Geiger said.
“It’s just disgusting.”
Geffen and Singer have also donated to Correctly, which supports Clinton.
Geyer, the investment banker, gave about $1 million to a super PAC backing Clinton in March, according his FEC filings, and the hedge funds have donated about the same amount, though Singer has also given to it.
Geffens political action committees have also contributed money to CorrectTheHillary, according records obtained by The Wall St. Journal.
The groups are all controlled by hedge- funds and other wealthy investors.
They are backed by Elliott, which in turn has been run by the billionaire financier Paul Singer.
Gehlans super PAC, Correct The Democrats, is also run by Singer, but the groups have no ties to Elliott or Geffen.
Gehrts PAC has given a total of $13.5 million to her campaigns, according The Wall Streets Journal’s review of FEC records and FEC filings by The Center for Responsive Politics.
That total includes more than half a million contributions from hedge-funder executives.
The group has raised more than the PAC from the same wealthy donors.
And Gehlts PAC’s top donor, John Paulsons, has bundled $1,200 for Correct The DNC, according To the WSJ.
Gehrenmans super PAC has also contributed more than that to Correct Trump.