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Convention wisdom – Following the money

The Federal Election Commission just released info about the Republican National Convention, specifically who paid for it:

  • Freddie Mac, and AIG — both of whom were just bailed out by the US government — somehow seemed to have enough money to give a quarter of a million dollars each.
  • JPMorgan — who bought troubled Bear Stearns — contributed $100,000.
  • The largest corporate donor was Minneapolis-based Target, which gave $3 million, followed by Qwest with $2.9 million, and Best Buy with $2.7 million.

It is one of those ironic twists that even though corporations are prohibited from giving money to political candidates, they can give as much money as they want to political conventions.

No numbers have been released for the Democratic National Convention yet, even though it was held first.