Wall Street’s largest banks are shutting off the spigot of money to DC in the aftermath of last week’s deadly invasion of the US Capitol.
Megabanks like JPMorgan Chase, Goldman Sachs, Citigroup and Morgan Stanley are all pausing some or all of their political giving in light of efforts by a mob of Trump supporters to forcefully interfere with the transfer of power to Joe Biden, leaving five dead.
“The terrible events from the last week have prompted us to pause and re-evaluate our PAC giving strategies,” JPMorgan spokesperson Patricia Wexler told The Post.
Citi is pausing its contributions for the first three months of 2020, while Morgan Stanley is making the politically bold decision of pausing only to politicians who attempted to stop the certification of electoral college votes for Joe Biden’s presidential win last Wednesday.
“We paused political contributions last week after the events we witnessed in Washington DC,” Goldman Sachs’ spokesman Jake Siewert said.