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Thursday, September 08, 2016

Goldman Bans Partners From Donating To Trump Campaign To "Minimize Potential Reputational Damage"

In the last days of August, Goldman Sachs surprised its employees with a new rule: the firm's top employees will be barred from donating to certain political campaigns, including that of Trump-Pence.

In a memo sent out on August 29, the firm's global compliance office said that starting on September 1, "all partners across the firm are considered “Restricted Persons” as defined by the firm’s Policy on Personal Political Activities in the US." This means that as of this moment, Goldman's partners are "prohibited from engaging in political activities and/or making campaign contributions to candidates running for state and local offices, as well as sitting state and local officials running for federal office", and specifically donating to the Donald Trump campaign, in order to "minimize potential reputational damage."

The memo conveniently provides the following example of the type of political activity that is barred, among others:
Any federal candidate who is a sitting state or local official (e.g., governor running for president or vice president, such as the Trump/Pence ticket, or mayor running for Congress), including their Political Action Committees (PACs).

7 comments:

Anonymous said...

Those darn 1%ters. You democrats paying attention?

Anonymous said...

They just ruined their rep with that statement
LOOOOOOSERS

Anonymous said...

A person can donate to any candidate of choice. GS should be sued to bring that point home.

Anonymous said...

This is a violation of those employees 1st Amendment rights. You are not the company you work for and who you donate to is none of their concern.

Anonymous said...

I see the commenters do not know who is Goldman Sachs?
If you only knew.

Anonymous said...

It happens to be illegal.

Anonymous said...

242 wants to be a slave. Or already is and loves his chains.