Invested Interest

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Invested Interest

At Goldman Sachs, he calculates political dividends.

by Rachel Burstein

#38 Jon S. Corzine, 50, Summit, N.J. Party: Both. $251,750 total contributions.

View Corzine’s itemized contributions.

Jon Corzine heads Goldman Sachs, the richest Wall Street investment partnership. Corzine makes large DNC contributions, but other Goldman executives and the firm’s PAC also gave heavily last year to the GOP.

That’s because Congress is again eyeing the Glass-Steagall Act, a 1933 law designed to protect consumers by separating commercial from investment banking. Goldman wants barriers removed that prevent it from offering banking and insurance services. The administration, led by Treasury Secretary Robert Rubin (Corzine’s predecessor at Goldman), promises to support liberal banking reform. But Glass-Steagall supporters fear deregulation will mean consumers get peddled financial services they don’t need, and that commercial banks will engage in riskier speculation that might threaten their solvency.

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