DATA RELEASE: Financial Bailout Vote: Northern CA House Members Voting Yes Received, on Average, $140K from Banks and Security Firms

12.5 Times More Money Than Members Voting 'No'

BERKELEY, CA, October 7, 2008 - MAPLight.org, a nonpartisan, nonprofit organization reveals Northern California data for the House Financial Bailout Vote (Emergency Economic Stabilization Act of 2008).

Friday’s 10/3 vote (that passed) revealed that House members voting Yes received 12.5 times more than those voting No.

Average amount given to each leg. voting Yes (13 people): $140,676
Average amount given to each leg. voting No (1 person): $11,250

Only 1 member, Pete Stark (a former banker) voted No. The other 13 members voted Yes. Pete Stark received the lowest amount of any Bay Area House Member.

Monday’s 9/29 vote (that failed) reveals that those voting Yes received twice as much as those voting No, or 1.9 times more.

Average amount given to each leg. voting Yes (10 people): $152,481
Average amount given to each leg. voting No (4 people): $78,810

Table of contributions and votes:

 

 

 

Vote
Mon 9/29

Vote
Fri 10/3

 

 

Pelosi

D

(CA-8)

Yes

Yes

 

$544,800

Eshoo

D

(CA-14)

Yes

Yes

 

$206,583

Thompson

D

(CA-1)

No

Yes

 

$178,279

Tauscher

D

(CA-10)

Yes

Yes

 

$172,745

Miller

D

(CA-7)

Yes

Yes

 

$147,405

Matsui

D

(CA-5)

Yes

Yes

 

$110,650

Lee

D

(CA-9)

No

Yes

 

$101,150

Honda

D

(CA-15)

Yes

Yes

 

$92,803

Lofgren

D

(CA-16)

Yes

Yes

 

$87,750

McNerney

D

(CA-11)

Yes

Yes

 

$81,670

Speier

D

(CA-12)

Yes

Yes

 

$53,349

Farr

D

(CA-17)

Yes

Yes

 

$27,050

Woolsey

D

(CA-6)

No

Yes

 

$24,560

Stark

D

(CA-13)

No

No

 

$11,250

Friday’s 10/3 vote: For a full analysis and a listing of how each legislator voted please visit http://www.maplight.org/map/us/bill/12867/N7DgM9/votes/vote-352731.

Monday’s 9/29 vote: For a full analysis and a listing of how each legislator voted please visit http://maplight.org/node/43109.

Methodology:

MAPLight.org's analysis used data from the Center for Responsive Politics (OpenSecrets.org) and included campaign funds given from January 2003 through August 2008 by banks and securities firms, specifically: banks (including commercial banks, savings & loans, and investment banks), credit unions, finance companies, stock exchanges, venture capital and private equity firms, hedge funds, and securities and commodities brokers and firms. Data includes both PAC and individual contributions. We used Congressional voting records from the U.S. House website, via GovTrack.us.

California Senate votes and contributions:

Senator Feinstein voted Yes on bailout bill. She received $460,236 from banks and securities firms from Jan 2001 through Aug 2008.

Senator Boxer voted Yes on bailout bill. She received $1,064,914 from banks and securities firms from Jan 2001 through Aug 2008.

Methodology for Senate data is the same as House (see above Methodology) but date range for contributions for Senators is longer, Jan 2001 through Aug 2008.

MAPLight.org's research department reveals how contributions correlate with legislation so that citizens have key information needed to draw their own conclusions about how campaign contributions affect policy. Campaign contributions are only one factor affecting legislator behavior. The correlations we highlight between industry and union giving and legislative outcomes do not show that one caused the other, and we do not make this claim. We do make the claim, however, that campaign contributions bias our legislative system. Simply put, candidates who take positions contrary to industry interests are unlikely to receive industry funds and thus have fewer resources for their election campaigns than those whose votes favor industry interests.

About MAPLight.org:

MAPLight.org is a nonpartisan, nonprofit, 501(c)(3) organization based in Berkeley, California. Its search engine at MAPLight.org illuminates the connection between Money And Politics (MAP) via a database of campaign contributions and legislative outcomes. Data sources include: GovTrack.us; Center for Responsive Politics (OpenSecrets.org); Federal Election Commission (FEC); and National Institute on Money in State Politics (NIMSP). Support and opposition data is obtained through testimony at public hearings, proprietary news databases and public statements on the websites of trade associations and other groups. To learn more visit: MAPLight.org. If our work has been helpful to you, please consider supporting us.

Media Contact

Pamela Behrsin
Communications
Office: (510) 868-0894
pamela@maplight.org