Given what we know of Stevens, Rangel, and the Freddie/Fannie circle, surely no one like Bernie Madoff steals billions right under the N.Y./D.C. radar without friends in high places. Can't our media do some research and find out exactly to whom and to what degree he donated to Congress?Since things like this are now fairly easy for us in the great unwashed populace outside of the media, here is what a quick look turned up.
Madoff personally gave $100,000 to the Democratic Senatorial Campaign Committee since 2005. Bernie and relatives (also co-workers at his Hedge...err...Ponzi Scheme) have also given lots of money to many pols, including Chuck Schumer ($39k), Ed Markey ($43k), Ron Wyden ($33k), and the Securities Industry Assn (Lobbying Assn; $61k). Schumer is a natural recipient, since he is not only the senior Senator from NY, but also on the Senate Finance Committee. Wyden is on the same Senate Finance Committee. Markey is on the House Energy & Commerce Committee. Why would Madoff ever contribute to them??
And in case anyone wants to play 'Name that Party', Madoff ( and his several relatives/co-workers) gave Democrats over $290,000, and only $33,000 to GOP entities (including a Congressman who, shockingly, was on the House Energy & Commerce Committee)
More to follow....when I have time, I will try to take a deeper look at which of those many Pols (like Schumer, Markey and Wyden) not listed here were involved in Committees that touched the Securities industry.
UPDATE: I suppose my sagging faith in the press might have been a little unwarrented this AM. Mark Hemingway, also in the Corner, points to the fact that Politico.com is actually doing some journalism on this issue, "Madoff bought influence in Washington". Sadly enough (but perhaps not surprisingly) the only Pol to be mentioned by name 'above the fold' for taking campaign contribution from Madoff was a Republican.
The Madoffs were also hefty donors to political candidates. In total, the Madoff family has donated more than $380,000 to political candidates, parties and political action committees since 1993, according to the Center for Responsive Politics. The giving skewed largely Democratic, although donations were made to several Republicans, including scandal-ridden Rep. Vito J. Fossella (R-N.Y.).You have to go to page 2 of the story to find out that Chuckie Schumer raked in his $39k, and $100k for his DSCC. Fossella is an odd choice to mention, seeing as how he got a whopping $4000 from the Madoff clan (only $1000 from Bernie), and $0 after 2001. He is (was?) however on the House Energy & Commerce Committee. Anyone seeing a pattern here? Heck, fellow Republican ( and once again former House Energy & Commerce Committee member) Jack Fields got $14K from the Madoffs. But I guess that Fossella was the closest that Politico could get to a current 'scandal-ridden' Republican (DUI, Affair) to try to pin the tail on the elephant....