Wall Street shifting political contributions to Republicans

[depakid]

Source: Washington Post

Commercial banks and high-flying investment firms have shifted their political contributions toward Republicans in recent months amid harsh rhetoric from Democrats about fat bank profits, generous bonuses and stingy lending policies on Wall Street.

The wealthy securities and investment industry, for example, went from giving 2 to 1 to Democrats at the start of 2009 to providing almost half of its donations to Republicans by the end of the year, according to new data compiled for The Washington Post by the Center for Responsive Politics.

Commercial banks and their employees also returned to their traditional tilt in favor of the GOP after a brief dalliance with Democrats, giving nearly twice as much to Republicans during the last three months of 2009, the data show. At the same time, total political donations by the major banks and investment houses alike dropped in the waning months of that year. The nascent shift came even before the White House announced proposals for a new tax on banks and a curb on some of their riskiest trading activities.

The proposals, offered last month, particularly alarmed Wall Street and have triggered renewed industry efforts to work with Democrats as well as Republicans on regulatory reform legislation that the bankers can live with, according to industry and government officials. Wall Street executives would prefer to engage with Democratic leaders now rather than face prolonged uncertainty about the rules to govern the industry, the sources said.

Read more: http://www.washingtonpost.com/wp-dyn/content/article/2010/02/23/AR2010022305537.html

[JackRiddler]

1. This is the price for allowing the criminal class to survive the crash they created.

[Amonester]

7. And also for not even attempting to reform campaign funding...

and bribery.

[OregonBi]

16. You got that right!

75% of those banking assholes should be in prison!
Obama and the Democratic Congress gave them a break and bailed their asses out of total bankruptcy, bailed them out of new career of flipping burgers and mowing lawns, and this is how they repay those favors?

Can we still arrest them for treason against this nation and imprison them for the next 50 years?
Make ZERO mistake about it, the way they screwed our national financial systems, thus our pensions into the ground, has a DIRECT impact on this nation's security.
Those bastards need to be charged with treason and prosecuted.

[LiberalFighter]

2. They need to slap the scumbags down hard.

[AllentownJake]

3. Wall Street gives money to the party that they think is going to win

Than when they win they can say, see guys, we helped you now help us.

[WriteDown]

4. What's scary is that it was once shifted to Democrats. nt

[bertman]

5. The really sad part is the Democrats know how this game is played, yet they played along.

It's all about the dead presidents. Forget about the sick and dying and homeless taxpayers.

Rec.

[OhioChick]

6. Checkmate n/t

[ananda]

8. Would these donations be coming from our tax stimulus dollars?

Ugghh

[midnight]

9. Yes... I would like to that too.

[JackRiddler]

11. No, no: from the banking bailouts. Not the stimulus program.

It's important to distinguish between the two.

[Romulox]

19. You mean the one the OP called people names for questioning?

Is that the one you mean? I (like the OP) still say THANK GAWD! for that bankster bailout! (We've kind of dug our credibility into a hole here, so what else can we do but ignore the bad news and plow on?)

[w4rma]

10. Very good. This means we're doing something right. (nt)

[defendandprotect]

12. Reregulate capitalism -- reinstitute Glass-Steagall -- now . .. !!

Before we have to bail them out again!!

[girl gone mad]

13. "So long..

and thanks for all the cash"

Suckers!

[alp227]

14. Yet another great campaign talking point.

Enough exposed Wall Street/GOP connections will enfuriate enough Americans to boot the goopers.

[LaPera]

15. DLC Ralm must be going crazy...But the promises were in the bag...

[Bigmack]

17. Hey... if they're going over to the other side....

that means anything goes!

Time for the Dems to clobber the banksters and brokesters . It's not like the Dems would be losing friends and money.

Fuck 'em and fuck 'em good!

[Romulox]

18. Thank GAWD! &/c.

Unrec.

[apnu]

20. I'm sure this will keep Rahm up at night.

The DLC sucks.

[librechik]

21. I'm shocked! Wall Street favors Republicans! (SOME THINGS NEVER CHANGE!!)

Can't the Dems figure this out and cultivate their natural base more? Didn't Obama's election prove the masses are a match for their might? (at least before the SCOTUS decision)

Why do we have such cowardly stupid Dems on our side???? Please let's change our party into something that works.

[Vidar]

22. OMG, Obama will have to pander faster!

[western mass]

23. This is why Wall St has power and YOU dont

Wall St is willing to withold their "vote" if they don't like what politicians are doing.

Until democratic voters are willing to do the same, their opinions have zero influence.

You can bet Democrats will be falling all over themselves to get this Wall St money back.