Goldman Sachs has said they will not spend their money on political advertising, showing what the New York Times calls “an unexpected sign of restraint” following a Supreme Court ruling (Citizens United v. Federal Election Commission) stating that on the basis of free speech, corporations can give unlimited amounts to electing (or defeating!) candidates for federal office.
It seems that after several weeks of meetings with public advocate Bill de Blasio, the oft-maligned bank is taking the high road, even stating on their website that “Goldman Sachs also does not spend corporate funds directly on electioneering communications.”
But before you get too impressed, know that this does not prevent them from operating political action committees to raise money to influence political races, or from spending money on whatever political causes they choose. But at least they’re not going to buy anybody outright. And, hey, maybe other companies with massive stockpiles of cash to put toward electing whomever they want (Target? Cough) will follow in their shining example!