Johnson's finances see shift

WASHINGTON - The last time Sen. Tim Johnson ran for re-election, some of his biggest campaign contributors worked for big banks such as Citigroup and Goldman Sachs and for the federal mortgage company Fannie Mae.

But at of the end of June, not a single contributor to the Democratic senator had been identified as a Goldman Sachs employee during the 2007-08 campaign cycle, Federal Election Commission records show.

Johnson nonetheless has raised $3.6 million over the last two years, compared with the $380,131 that his Republican challenger, Joel Dykstra, has raised.

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Despite his lagging fundraising, Dykstra said he is not intimidated by Johnson's larger totals. Dykstra's top contributors are employees of Siouxland Anesthesiology in Sioux Falls, who have donated a total of $6,700 so far.

Johnson, seeking a third term, serves on the Senate Banking Committee and the Senate Appropriations Committee, which have jurisdiction over financial institutions. Six years ago, Goldman Sachs employees gave Johnson nearly $33,000, according to Federal Election Commission records tracked by the Center for Responsive Politics, a money and politics watchdog group.

And unless they shower Johnson's campaign with cash over the next couple of months, employees with Citigroup, which operates a credit card center in Sioux Falls, and Fannie Mae will do little better.

Both companies have been hit hard by the subprime mortgage crisis and the ensuing credit crunch. So far, Citigroup employees have donated about $5,000 to Johnson's campaign. Six years ago, Citigroup employees shoveled more than $70,000 into Johnson's campaign war chest.

Fannie Mae employees have donated $1,000, as of the end of June, compared with about $31,000 in 2002.

Employment information was listed in 95 percent of Johnson's contribution records, according to the center.

The apparent drop-off in donations could be a consequence of the lack of excitement in the race this year between Johnson and Dykstra, Johnson's campaign manager Steve Jarding said. Six years ago, Johnson barely won re-election over Republican rival John Thune, who went on to defeat former Senate Majority Leader Tom Daschle in 2004.

"It might be that some on Wall Street don't appreciate Tim supporting the need for a stronger regulator for Fannie Mae and some of the other financial institutions," Jarding said.

But Johnson hasn't had any problems finding other donors to make up for the shortfall. The payday loan industry and its workers had donated at least $63,500 as of the end of June, FEC records indicate.

And physicians across the country have given more than $50,000 to Johnson's campaign, about $16,000 of which was donated by doctors who own and operate the Black Hills Orthopedic and Spine Center in Rapid City, FEC records show. Doctor-owned hospitals and clinics are in a fight against corporate-owned hospitals over who gets to treat Medicare patients.

Physicians who own and operate their own health facilities have to donate to congressional candidates to ensure that their needs are addressed against those of well-financed corporate hospital chains, said Molloy Sandvig, executive director of the Sioux Falls-based Physician Hospitals of America.

"To really be a player in politics, you have to be able to raise money and make sure that your politicians understand where you're coming from, especially when your opposition is throwing money at them," Sandvig said.

Doctors have donated at least $14,150 to Dykstra and $6,700 to Rep. Stephanie Herseth Sandlin, D-S.D. Republican Chris Lien, who is running against Herseth Sandlin, raised at least $2,250 from doctors, as of the end of June.

Lien's biggest contributors have been family members and employees of his family's sand and gravel business in Rapid City, Pete Lien & Sons, who have given him $40,300 so far. Lien had raised $332,723 as of the end of June.

Johnson's biggest contributor this year, so far, is ActBlue, a Democratic fundraising Web site, which has given him $137,470 in contributions from individuals around the country. Herseth Sandlin's top contributors are the employees and members of nine organizations who each donated $10,000 for a total of $90,000. The group includes real estate agents, unions and conservative House Democrats known as Blue Dogs.

Dykstra is confident he'll raise enough money to meet his campaigns needs, despite the disparity with Johnson's total.

"Obviously, his position on the banking committee draws support from that industry," said Dykstra, who hopes to bring in $1 million by Election Day. "Those are the kinds of advantages that incumbents have."

Contact Faith Bremner at fbremner@gns.gannett.com.

Elisha Page/Argus Leader

Sources of Sen. Tim Johnson's fundraising have shifted sharply, but he maintains a large lead in financial resources over GOP challenger Joel Dykstra.