Will Evans, California Watch
Sunday, May 6, 2012
Leading financial firms donated $1.8 million to successful school bond measures in California over the past five years, and in almost every instance, school district officials hired those same underwriters to sell the bonds for a profit, a California Watch review has found.
The practice is especially pronounced in California, where underwriters gave 155 political contributions since 2007 to successful bond campaigns for school construction and repairs. One major underwriter, Piper Jaffray, has said it gets more requests for campaign contributions in California than in any other state where it does business.
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