Hometown Financial Powers Helped FundDemocratic Convention
WASHINGTON - (10/05/04) -- The Democratic Party can thank someof the nation's largest financial institutions, many of themBoston-based, with helping them raise about $55 million to pay forthe Democratic National Convention in Boston this summer. Among thelargest donors to the Democrat's host committee, according todocuments filed with the Federal Elections Commission show wereBoston-based companies: Fidelity Investments ($2.2 million), JohnHancock Financial ($2.1 million) State Street Corp. ($1 million)and Bank of America, which recently acquired Boston-based FleetFinancial ($1.8 million). secondary mortgage market giants FreddieMac ($361,000) and Fannie Mae ($250,000) also helped pay the tab.CUNA contributed $40,000 and the American Bankers Association just$15,000. CitiCorp kicked in $250,00 and MasterCard International$225,000. Other big donors included IBM ($2.2 million) RaytheonCorp. ($1 million); Gillette Corp. ($1.6 million); and Verizon ($2million).