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Rolling Stone Interviews President Obama

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Gus9/28/2010 6:34:20 pm PDT

Meg Whitman. Beholden:

Since winning the Republican primary, Meg Whitman has banked $105,700 more in donations from her old contacts at Goldman Sachs, the powerful and controversial investment bank.

Whitman, the billionaire former CEO of the online auction house eBay, has spent more of her own money on her gubernatorial campaign than any political candidate in U.S. history – $119 million, state records show. That includes $48 million more in checks since the primary.

But she’s also collecting political donations.

Goldman, where Whitman has variously been an investor, a corporate director and a recipient of insider stock deals, has emerged as the GOP candidate’s biggest single outside source of campaign cash, records show.

Through last week, donors with Goldman connections have given Whitman $216,200. Donors associated with the Food 4 Less supermarket chain rank second, at $207,200, according to a California Watch review of state records.

Whitman has strong ties to Goldman. Much of her $1.2 billion fortune is invested in Goldman funds, according to her economic disclosure report. A Goldman subsidiary manages the money in her family foundation.

In 2001 and 2002, she served on Goldman’s board, where she was paid an estimated $475,000. She left the board after she was singled out in a congressional investigation of “spinning,” a now-banned practice in which investment banks allegedly traded access to insider stock deals in exchange for corporate underwriting business.