From Open Secrets:
This post has been updated to include a statement from the Clinton campaign.
Not that you saw it or anything, but OpenSecrets.org got a pretty big shout-out over the weekend. When presidential candidate Hillary Clinton wants to get her facts about campaign finance straight, at least she knows where to come.
“I think it’s important to point out that about 3 percent of my donations come from people in the finance and investment world,” Clinton said during Saturday’s Democratic debate. “You can go to OpenSecrets.org and check that. I have more donations from students and teachers than I do from people associated with Wall Street.”
Well, alright, Madam Secretary — we’ll go to OpenSecrets and check that. Spoiler: Clinton is technically right, but there are some important caveats. Like super PACs. But we’ll get to that.
First, let’s look at her campaign contributions. For what Clinton is trying to show, she’ll want a numerator that includes how much she has received from the securities and investment industry plus the commercial banking industry — combined, that’s what most people think of as “Wall Street,” and in her case, it comes to just about $2.5 million. Her denominator should be her total amount of individual contributions from people who gave more than $200 plus her PAC receipts, which adds up to $63.4 million.
What she should not do — but apparently did — is simply divide her contributions from the securities and investment industry by her campaign’s total haul. For one thing, the total…