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Rating:Fidelity Staffers Bump Up Giving to a Key Congressman Not Rated 0.0 Email Routing List Email & Route  Print Print
Wednesday, April 22, 2009

Fidelity Staffers Bump Up Giving to a Key Congressman

by: Neil Anderson, Managing Editor

Are Fidelity employees suddenly courting Congressman Barney Frank (D-Massachusetts)? That's the conclusion of a new piece, "What Does Fidelity Want From Barney Frank?" in the Washington Independent.

Elana Schor reports that, according to the Federal Election Commission, in the first quarter of 2009 Fido employees donated $29,000 to Frank, who chairs the House Financial Services Committee. That's more than one-third of the total $83,765 in individual donations Frank received in the entire quarter and almost eight times the $3,750 Fidelity employees donated to Frank in the entire two decades ending December 31, 2008.

"Many of our employees participate in public affairs through donations to candidates that they support," Fidelity spokesman Vin Loporchio told MFWire.

Schor speculates that the donations might be related to a broad financial regulatory reform bill Frank is expected to reveal soon. 

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