Campaign Contributions to Obama Dominated by Law Firms
On 02.12.11, In Legal Industry, by Blake Houser
President Barack Obama is being heavily favored by big law firms in campaign contribution. According to reports, twice as much financial contribution has poured into the re-election campaign of the president compared to the four leading Republican candidates combined.
According to the Federal Election Commission filings that have been analyzed by government watchdog organization Center for Responsive Politics, about $4.1 million from law firms and lawyers has been received by the Obama campaign compared to the $1.7 million that Ron Paul, Newt Gingrich, Herman Cain and Mitt Romney have received collectively.
The center’s spokesman, Michael Beckel, said, “The legal industry as a whole has been a traditional place for Democrats to turn to. Obama is not unique in that respect. If you look back, about 70 percent of the money the legal industry donates within a particular cycle benefits Democrats opposed to Republicans. Some of that goes back to [Republican] candidates touting tort reform, making it harder to sue.”
Campaign finance experts observe that, beyond personal donations, no other industry has bundled more funds for Obama than lawyers. Bundlers are those who, after reaching their personal contribution limit, solicit and “bundle” contributions from family, friends and associates.
Over a fifth of President Obama’s bundlers are lawyers at some of the leading law firms in the world. These include DLA Piper, Skadden, Winston & Strawn and Sidley Austin, which is the Chicago law firm where both Barack and Michelle Obama previously worked as associates.
Law firms and lawyers have raised a minimum of $9.9 million through bundling, more than any other sector. The investment and securities sector comes in second, having raised around $9.4 million that way.