JPMorgan Staffers Donate $45,000 to Cantor’s PAC

Monday, 25 Jun 2012 03:20 PM

By Newsmax Wires

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Workers at JPMorgan Chase bank gave more than $45,000 in May to Every Republican Is Crucial, the main political action committee of House Majority Leader Eric Cantor, according to campaign filings.

Those contributions came in the same month that the bank itself decided to cut off its political donations, after reporting a trading loss of more than $2 billion, according to Politico. The bank made eight donations, six to Democrats, shortly before it announced the loss.

The $45,250 garnered from JPMorgan staffers accounted for 16 percent of the $285,500 total raised by the PAC in May.

Every Republican is Crucial also drew donations from James Davis, CEO of New Balance sneakers, who provided $5,000, and Ken Mehlman, former chairman of the Republican National Committee and now head of public affairs for private equity firm Kohlberg, Kravis, Roberts.

Meanwhile, the Cantor Victory Fund PAC attracted $276,902 in May. Itzhak Fisher, executive vice president of Nielsen, the TV ratings company, provided by far the biggest donation — $49,800. Ronald Lauder, chairman emeritus of Estee Lauder cosmetics, gave the Fund $5,000.

As for other major Republicans’ PACs, House Speaker John Boehner's Freedom Project gained allocations of $154,820 in total from 18 people in May. That includes $5,000 from Rep. Mike Pence, the Republican nominee for governor of Indiana. Pence lost to Boehner in the race for House minority leader in 2006.




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