Goldman Sachs To Abstain From Political Ad Spending


Goldman Sachs has promised that it won’t be spending any of its “vast corporate reserves” on political advertising. Thanks to the Supreme Court ruling earlier this year, corporations are now free to give as much as they please to campaigns for candidates. But according to the Times, the investment bank has added the following sentence to its statement on political activities online: “Goldman Sachs also does not spend corporate funds directly on electioneering communications,” a category which generally encompasses radio and television advertisements. While some campaign finance experts said Goldman will still find ways to exert influence (political action committees, issue-specific advocating, etc.), others - like New York’s public advocate Bill de Blasio - said the pledge could be “game-changing” and Goldman’s example could lead other companies to follow suit.

Political Ads Off Limits, Goldman Promises [NYT]