Donations made by corporate PACs must be disclosed publicly. But corporations are generally tight-lipped about why they donate to certain politicians. Documents obtained by Popular Information, however, reveal the internal workings of Wells Fargo's PAC, the third-largest PAC in the financial services industry. It's not a pretty picture.
The tie-in between 1% corporations, the GOP and the lies involved are like a blinding flashing warning light on how minority rule is happening.
Campaign finance reform may be too late (if it ever happens, I will kiss a pig.)
But suckering in the employees to contribute is just sad. Knowing someone in their diversity program who is very proud of the program, I just SMH. I believe employees would be upset, but what can they do without losing their jobs.
Thank you for continuing to expose these donations. The barbarians at the gate are everywhere.
Legislators should be required to wear patch's similar to race car drivers identifying the corporations that they are beholden to so consumers can decide who they want to do business with.
I had no idea that the Republican Attorney General's Assoc. could take direct corporate contributions! (Astounding how much money Match donated to said group, as you've reported.) Are there analogous associations that are also getting corporate donations -- like the "Republican Secretaries of State Assoc."?
Judd, this kind of info is a big benefit of subscribing, and today’s bonuses are 1) relief I don’t need to close any accounts and 2) I’ve learned an alternate definition of transparency. ;-) I follow your corporate accountability index and the top dollars I’ve seen you cite have come from Home Depot, Boeing and Lockheed among others. Wells-Fargo is listed in the index, but not with dollars that I can see. Does it fit into your plans to share a ‘top 20’ list of corp PACs based on total contribution and show their total contribution, accountability category and last date of contribution (per filings)?
Thank you for the research and the reporting. When we have so much consolidation in industries and reduction of competition and choice, it becomes difficult to steer clear of such companies as a way of living our own values, let alone employees in places where they are a major employer. I don’t bank with Wells Fargo. Yet it is almost impossible to avoid this same behavior in the cable and communications industry (Comcast, Verizon), or healthcare insurance, etc.
My personal experience is consistent with this: heavy pressure on executives to contribute to corporate PACs, an assertion that contributions are anonymous (the mechanics of contributions make that assertion suspect) and vague answers to questions about the objectives and how donations will be made. Pretty obvious though when all the “speakers” at mandatory PAC “invitation” meetings are on one side of the political spectrum.
Damn Wells Fargo and damn SCOTUS for allowing this. For creating an entirely new donation structure (at the time) that has changed the entire face of elections, indirectly or directly contributing to “minority rule” (no pun intended). But here we are, wondering why state & local candidates, who do the bulk of corporate bidding, who back unpopular legislation, (then lie about it) are elected time and again. Think Ted Cruz. And this business where employees are donating ‘blindly’ is just ludicrous. The entire system is so warped now. And the state of the country now reflects this! Citizens v. was another SCOTUS ruling that has now devastated everything it touches. If election reform & voting rights aren’t #1 on Congress ‘to do’ list trust me, we’ll get NOTHING accomplished. We’re sitting ducks, as mere citizens with less and less power as time passes.
If I had any money with Wells Fargo I would move it immediately. Just the latest example of corporate lip service from Wells Fargo. Saying one thing and then doing the exact opposite. Par for the course. Corporations care about $$$. We know this. Anything they say in regards to human rights is mostly BS.
Wells Fargo is a most criminal enterprise disguised as a bank. They have been fined time and again for various forms of malfeasance. Pressuring employees to set up bogus accounts that charge their client without their knowledge is just the tip of the iceberg. Two weeks after I purchased my current vehicle I received a letter from them informing me that my loan application had been denied. Had I known the finance guy at the dealership planned to approach them, I would have said no. Any bank but them! Mind you, the rest aren't much better but WF is particularly scummy.
So really no surprise that a corporate PAC is a lobbying entity under another name. I can understand "voluntary" donations from highly-compensated employees - it's in their vested interest. There seems to be little that can be brought to bear - outside of creating public pressure done at some risk to an employee's job - that would highlight such things as a supportive statement on a right to receive certain medical care vs. donations to a group such as RAGA.
Thank you for keeping us informed. We wouldn't know much about corporate PACs without your research and writing.
The tie-in between 1% corporations, the GOP and the lies involved are like a blinding flashing warning light on how minority rule is happening.
Campaign finance reform may be too late (if it ever happens, I will kiss a pig.)
But suckering in the employees to contribute is just sad. Knowing someone in their diversity program who is very proud of the program, I just SMH. I believe employees would be upset, but what can they do without losing their jobs.
Thank you for continuing to expose these donations. The barbarians at the gate are everywhere.
Vote
Thank you for another spectacular spotlight on corporate hypocrisy, Judd.
Legislators should be required to wear patch's similar to race car drivers identifying the corporations that they are beholden to so consumers can decide who they want to do business with.
Another outstanding factual report that never would come out of corporate media. Thank you.
EXCELLENT reporting, let's hope this leads to some meaningful change.
I had no idea that the Republican Attorney General's Assoc. could take direct corporate contributions! (Astounding how much money Match donated to said group, as you've reported.) Are there analogous associations that are also getting corporate donations -- like the "Republican Secretaries of State Assoc."?
Judd, this kind of info is a big benefit of subscribing, and today’s bonuses are 1) relief I don’t need to close any accounts and 2) I’ve learned an alternate definition of transparency. ;-) I follow your corporate accountability index and the top dollars I’ve seen you cite have come from Home Depot, Boeing and Lockheed among others. Wells-Fargo is listed in the index, but not with dollars that I can see. Does it fit into your plans to share a ‘top 20’ list of corp PACs based on total contribution and show their total contribution, accountability category and last date of contribution (per filings)?
Enjoy your hiatus!
Thank you for the research and the reporting. When we have so much consolidation in industries and reduction of competition and choice, it becomes difficult to steer clear of such companies as a way of living our own values, let alone employees in places where they are a major employer. I don’t bank with Wells Fargo. Yet it is almost impossible to avoid this same behavior in the cable and communications industry (Comcast, Verizon), or healthcare insurance, etc.
My personal experience is consistent with this: heavy pressure on executives to contribute to corporate PACs, an assertion that contributions are anonymous (the mechanics of contributions make that assertion suspect) and vague answers to questions about the objectives and how donations will be made. Pretty obvious though when all the “speakers” at mandatory PAC “invitation” meetings are on one side of the political spectrum.
Damn Wells Fargo and damn SCOTUS for allowing this. For creating an entirely new donation structure (at the time) that has changed the entire face of elections, indirectly or directly contributing to “minority rule” (no pun intended). But here we are, wondering why state & local candidates, who do the bulk of corporate bidding, who back unpopular legislation, (then lie about it) are elected time and again. Think Ted Cruz. And this business where employees are donating ‘blindly’ is just ludicrous. The entire system is so warped now. And the state of the country now reflects this! Citizens v. was another SCOTUS ruling that has now devastated everything it touches. If election reform & voting rights aren’t #1 on Congress ‘to do’ list trust me, we’ll get NOTHING accomplished. We’re sitting ducks, as mere citizens with less and less power as time passes.
If I had any money with Wells Fargo I would move it immediately. Just the latest example of corporate lip service from Wells Fargo. Saying one thing and then doing the exact opposite. Par for the course. Corporations care about $$$. We know this. Anything they say in regards to human rights is mostly BS.
This is great information! Now can you do something like this for AT&T, Chevron, etc who are donating through to election denying Republicans?
Wells Fargo is a most criminal enterprise disguised as a bank. They have been fined time and again for various forms of malfeasance. Pressuring employees to set up bogus accounts that charge their client without their knowledge is just the tip of the iceberg. Two weeks after I purchased my current vehicle I received a letter from them informing me that my loan application had been denied. Had I known the finance guy at the dealership planned to approach them, I would have said no. Any bank but them! Mind you, the rest aren't much better but WF is particularly scummy.
So really no surprise that a corporate PAC is a lobbying entity under another name. I can understand "voluntary" donations from highly-compensated employees - it's in their vested interest. There seems to be little that can be brought to bear - outside of creating public pressure done at some risk to an employee's job - that would highlight such things as a supportive statement on a right to receive certain medical care vs. donations to a group such as RAGA.
Don't vent here. Tell Wells Fargo. https://www.facebook.com/wellsfargo