Political Contributions from Financial Sector Increased 700% Since 1990

Nicko Margolies from the Sunlight Foundation sez, "A new analysis prepared by the Sunlight Foundation shows that wealthy financial sector donors gave $178.2 million in political contributions in 2010, more than ten times what they gave 20 years ago. More than any other industry, individuals from the finance, insurance and real estate (FIRE) sector, particularly those in securities and investments, are the key drivers of the overall growth of elite donors, or what Sunlight calls The Political One Percent of the One Percent.

"An analysis of campaign contribution records by the Sunlight Foundation reveals that the number of donors in the FIRE sector giving at least $10,000 (in 2010 dollars) per election cycle to political candidates, parties and independent expenditure groups increased from 1,091 in 1990 to 5,510 in 2010 (a 405% increase). Combined contributions of these elite donors increased even more dramatically, growing by $162.8 million (a 700% increase, controlling for inflation). This project builds on the Political 1% of the 1% that was featured on Boing Boing in December."

On FIRE: How the Finance, Insurance and Real Estate Sector Drove the Growth of the Political One Percent of the One Percent

(Thanks, Nicko!)