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Best of the Blogs, Politics: Microsoft and Goldman Sachs Employees Are Biggest Campaign Contributors for 2012


Minyanville's daily roundup of some of the best commentary on politics from around the Web.

Editor's Note: Newt Gingrich announced today that he will officially suspend his campaign for the Republican nomination for the 2012 presidential election sometime next week.

This column highlights the most interesting and useful election season and political commentary from around the Web every Wednesday.

OpenSecrets blog: Investigating Money in Politics
Dog Bites Man: Lawyers for Obama, Wall Street Backs Romney
"The organization that has given the most to Obama's campaign since the election cycle started has been Microsoft (MSFT) (the company itself cannot give to the campaign, so these numbers represent donations from people employed by the company), with donors giving $304,690. But in the month of March, those donors largely held back, giving only $15,602. Instead, the top company giving to Obama in March was law firm Sidley Austin LLP, (fourth on the list overall), with donors contributing $118,384. [...]

"The list of Romney's biggest donors, by organization, in March is further evidence of the financial industry's love affair with him. At the top of the list was Bank of America (BAC); donors from that firm gave him $87,000. Next were Fidelity, Massachusetts Mutual, CIT Group (CIT) and Aetna (AET). Goldman Sachs (GS), Romney's number one overall donor at $564,580, gave just $36,400 in March. Donors from Obama's top group in March, Sidley Austin LLP, also show up as the 10th largest group for Romney, having given $34,250."

CNN Money: America's Choice 2012
Romney Campaign Spent $18.50 per vote
"At the end of March, the Romney camp had captured 607 delegates and 4.1 million votes. That means the candidate, who has cultivated a reputation as a penny-pincher, spent $18.50 per vote, and $126,000 per delegate.

"The money was used to cover various expenses like hotels, food, equipment, accounting services, rental cars, air travel, event consultants and online advertisers.

"[I]n March, the campaign spent $871 on Poland Spring water, $1,966 on office supplies from Apple (AAPL), more than $50 at Applebee's, $48 at Arby's, $9.57 at Panda Express, $11,000 in payments to the Waldorf Astoria hotel and $70,165 at law and lobbying firm Patton Boggs."

The Washington Times - Complete Election Coverage: Campaign 2012
Obama takes to the road to court college students
"Many lawmakers in both parties want to accomplish the goal of keeping student-loan rates at 3.4 percent, with the question centering on how to pay for the $6 billion cost of the measure. A White House spokesman said Tuesday that one good option would be a bill under discussion in the Senate to close a loophole for S-corporations, privately owned companies that avoid paying payroll taxes on part of their earnings."

Politico - On Congress: Reporting and Analysis of Capitol Hill
Reps. demand answers from Wal-Mart over corruption charges
"Reps. Henry Waxman, the ranking member of the House Energy and Commerce Committee, and Elijah Cummings, the ranking member of the House Oversight and Government Reform Committee, sent a letter Monday to Wal-Mart (WMT) CEO Michael Duke requesting a meeting with company officials by the end of the week."

FoxNews - America's Election HQ: A Front Row Seat To Politics
Cash-poor Gingrich campaign leaves some contractors unpaid as it disputes debts
"[M]ired in $4.3 million of debt, the Gingrich [now defunct] campaign is disputing whether it has to pay for Newt's Network and officially signaled Friday in its FEC filing that the campaign may never do so – one of three contractual disputes that provide further insight into the extent of the campaign's money troubles."
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