Coleman is top recipient of money from financial sector

Sen. Norm Coleman has raised $2.75 million from the beleaguered finance sector so far this election cycle, according to a new analysis by the Center for Responsive Politics. That makes him the top recipient in the country of donations from the finance, insurance and real estate industries. Such contributions account for just over 20 percent of the Republican’s total campaign bankroll.

Candidates on the November ballot across the country have raised $120.5 million from the finance sector — or 16 percent of their total haul. Both parties are equally dependent on Wall Street cash, with Democrats taking in $61.5 million and Republicans pocketing $58.9 million.

According to CRP, major recipients of such donations were more likely to vote in favor of the $700 billion bailout package. The 263 House members who voted in favor of the legislation have received an average of $833,077 since 1989 from the industries most directly bolstered by the bailout bill. The 171 opponents collected an average of $589,417. On the Senate side, legislators who supported the bailout have received an average of $3,986,723 from the finance sector since 1989. That’s 139 percent more than the opponents, who received $1,671,029, on average. Coleman was among those voting in favor of the bailout package.