Prominent Democratic Bankroller Steven Rattner Faces Stiff SEC Penalties as Kickback Accusations Swirl
Notable financier Steven Rattner, a major Democratic campaign donor and short-lived Obama administration automotive issues adviser, is facing federal banishment from the securities industry for up to three years, the New York Times is reporting in today's editions.
The potential Securities and Exchange Commission penalties stem from the commission's investigation of a suspected kickback scheme involving New York state's mention system, reporter Michael Barbaro writes. Rattner, through a spokesman, is declining comment.
A preliminary Center for Responsive Politics analysis of Rattner's campaign donations since 2007 indicates he's donated tens of thousands of dollars to federal candidates and committees, including $36,000 to the Democratic Senatorial Campaign Committee, $14,250 to the Democratic National Committee, $4,600 to President Barack Obama and $2,300 to Vice President Joe Biden.
Other prominent Democrats recently receiving campaign money from Rattner include secretary of state and former Sen. Hillary Clinton (D-N.Y.), Sen. Mary Landrieu (D-La.), Sen. Max Baucus (D-Mont.), Sen. Jeanne Shaheen (D-N.H.), Rep. Charles Rangel (D-N.Y.) and White House chief of staff and former Rep. Rahm Emanuel (D-Ill.).
Rattner's individual contributions, sizable as they are, only in part contribute to his kingmaker status in Democratic Party circles. To wit: His wife is former Democratic National Committee Finance Chairwoman Maureen White, an Obama campaign cash bundler who through the years has, in conjunction with her husband, helped raised millions of dollars for party faithful.
Two years ago, we noted that Rattner and White had, for the decade up to that point, personally contributed more than $1 million to various Democratic committees, candidates and candidate leadership PACs.
UPDATE (9:04 a.m.): The Center's research indicates that Rattner and White have together combined to donate nearly $1.8 million to federal political candidates and political committees since the 1990 election cycle. Their biggest single election cycle came in 2002, when they spread $329,000 among various candidates and committees.
Top Ratner/White party committee recipients since the 1990 election cycle include the
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Democratic National Committee ($939,356),
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Democratic Senatorial Campaign Committee ($261,782)
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and Democratic Congressional Campaign Committee ($65,500).
Among political candidates,
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Hillary Clinton ($37,594),
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former Vice President Al Gore ($36,000)
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and Harold Ford Jr. ($18,600)
top the Rattner/White contribution roster, which includes 150 candidates in all since the 1990 election cycle, the Center's research shows. Download a spreadsheet including that full list by clicking here: rattnerwhite.xls
Center for Responsive Politics Senior Researcher Doug Weber contributed to this report
