Sen. Shelby and financial industry ties

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Sen. Shelby has publicly opposed major portions of the financial reform bill currently being debated in the U.S. Senate. The bill is being opposed by many of the same Wall Street banks that wrecked our economy. Those same interests have also given big campaign contributions to Sen. Shelby over the years.

 

Sen. Shelby has depended on financial industry dollars to fund his campaigns for public office.[1]

 

  • According to data from the Center for Responsive Politics, Sen. Shelby has raised $5.3 million from the financial industry since 1998.
  • Sen. Shelby has received substantial contributions from leading financial firms:

JP Morgan Chase

$101,321

Citigroup Inc

$108,199

PriceWatershouseCoopers

$76,700

Goldman Sachs

$67,600

 

  • In 2009, Sen. Shelby received $806,838 from the financial industry.

Sen. Shelby's former staffers have landed positions as lobbyists for the financial industry.

  • Jennifer Bendall, a former political advisor to Sen. Shelby, now works for Eris Group. In 2009, she lobbied on behalf of several companies with a stake in the current financial regulation reform debate. Her clients (and firm fees) include MetLife ($180,000), Morgan Stanley ($120,000), and the U.S. Chamber of Commerce ($20,000).
  • Stewart Hall, former legislative director for Sen. Shelby, lobbied in 2009 for Ogilvy Government Relations on behalf of the Carlyle Group ($50,000) and the Community Financial Services Association ($300,000), the trade association for payday lenders
  • Lendell Porterfield is a former aide to Sen. Shelby and is currently a principle at Porterfield, Lowenthal, and Fettig. In 2009, Porterfield's clients (and firm fees) included the American Bankers Association ($120,000), Prudential Financial ($30,000), and the New York Bankers Association ($50,000).
  • Philip Rivers, Sen. Shelby's former chief of staff, is now a lobbyist with Locke Liddell Strategies. In 2009, Rivers' lobbied on behalf of the American Financial Services Association ($120,000).

 



[1] All campaign finance and lobbying figures come from the Center for Responsive Politics website, http://www.opensecrets.org.