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Two Thirds Of Wall Street Donations Now Go To Republicans As Democrats Get Least Contributions Since May 2008
According to the most recent study by the Center for Responsive Politics, Wall Street has completely given up on Democrats, even as contributions to Republicans have surged to a near multi-year record, or 68% of total. After donations hit parity in December 2009, following a gradual decline from a record Democrat preference in March of 2009, the spread between Wall Street charity to Democrats and Republicans has hit nearly 40% in the GOP's favor. Per OpenSecrets: "The Center's preliminary study indicates that political action committees and individuals associated with the broad finance, insurance and real estate sector have given more money to federal-level Republican interests during every month since December. The gap continued to grow during that time, reaching its widest point in June." The sad conclusion for the Obama administration is that even those who the president burned so much political capital to bail out, and will almost certainly cost him his second term, have turned against him: "But at this juncture, the general trend is clear: The broad financial
sector in June appears to have spent a greater percentage of its cash
on federal-level Republicans than at any time since May 2008."
More from OpenSecrets:
The Center's preliminary study indicates that political action committees and individuals associated with the broad finance, insurance and real estate sector have given more money to federal-level Republican interests during every month since December. The gap continued to grow during that time, reaching its widest point in June.
Such a shift away from Democratic candidates -- darlings of Wall Street interests for much of 2009 -- coincides with Democrat-driven financial reform legislation that President Barack Obama signed last month.
Contribution trends toward Republicans is particularly pronounced in the securities and investment industry, the Center finds.
During March 2009, people and PACs associated with this industry directed 70 percent of their federal-level contributions to Democratic candidates, party committees and leadership PACs.
By June, such numbers had practically flipped, with preliminary figures indicating Republican interests had received 68 percent of all federal-level contributions from this industry.
Individuals associated with these industries, such as company executives and middle managers, are the primary drivers of a Republican campaign donation shift, the Center's research indicates.
For example, in June, political action committees sponsored by securities and investment firms and trade groups almost evenly split their federal-level political contributions between Democrats and Republicans, preliminary figures show.
But individuals working within this industry favored Republicans by a nearly seven-to-10 margin in June. That's a significant departure from the beginning of 2009, when individuals working in this industry favored Democratic interests with six dollars for every 10 dollars spent on federal-level political interests.
One may wonder who the two remaining advisors that Obama has surrounded himself by, Larry Summers, and Tim Geithner truly work for: it is no secret that their long-term allegiances lie with precisely those who have now deserted the president. Perhaps it is not too late for Obama to make a clean break with Wall Street and truly embrace the bulk of America's population in one last act of expiation. After all, that would be a return to precisely the same roots of "change" that got the president elected in the first place. We are confident the American public can fina way to forgive and forget if Obama is truly repentful for the past two years of consistent faux pas.
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Is this because they want Ron Paul to head the Finance Cmte and then "audit the Fed?" Probably not, but should bring interesting entertainment to see him part of the majority.
This is just them trying to get ahead of the "if your in your out" which they know is about to go down... scrambling to pay off the next crop of political whores is all.
Payoff the next crooks in-line to fuck up this country. It is cyclic.
Exactly - politics today works just like organized crime rings - simply follow the money.
that's right. follow. the. money.
i call TOTAL BULLSHIT on this post. both parties are basically the same. i'm not falling for this false choice of rep. or dem.
i belong to the freedom party, the liberty party, the bill of rights party, the non-banker party. get it.
Don't know why the reason for the junks, but I think you're spot on.
Our version of "change" under a Democratic leader has been a massive exercise in wealth transferrence to the banking sector. And another dangerous step back in accountablity and transparency.
You might as well call the Democrats and Repbulicans... "Banker Party - Red" and "Banker Party - Blue". Because that's exactly what you'll be getting... despite all the feel good campaign promises to the contrary.
Somebody needs to tell Comrade Obama that in a democracy you gots to dance with the one who brung ya.
2/3, 1/3 doesn't matter. They're just ensuring Fraud St. control of government for at least two more years, but the other side of the coin gets told what to pass and how to vote.
Can't find a YouTube link, but the movie "Moon Over Parador" with Richard Dreyfuss is hilarious AND pertinent:
Two soldiers are looking at twin 40 foot high posters of the dictator, one in Red background, another in Blue background:
Soldier #1: "So, are you voting Red this year, or Blue?"
Soldier #2: "Red, I think."
Soldier #1: <shrugs> "Vote for whoever you want, it's a free dictatorship."
Why would Comrade OBama need to run for a second term?
Wake up America! No politican is that stupid.
Yes, there are books to be written and scores of liberal trainees to be indoctrinated. This governating is a real bore for the " enlightened ".
Perhaps it is not too late for Obama to make a clean break with Wall Street and truly embrace the bulk of America's population in one last act of expiation.
Let 'em eat govmint cheese!
or toe nail cheese?
It's time to cull the herd.
No, Ithink it's way too late for Obama. The public will NEVER trust him again;
America has the best political system that money can buy.
You haven't been to some nations in Africa or Asia!
Actually - that title would belong to the Asian countries...At least bribes are common practice there and not really shunned upon - unless a political enemy exploits the bribe for his gain.
Obviously the Republicans are more willing to go "all the way" for Wall Street than Democrats are. Sort of like a $20 whore (GOP) versus a $200 call girl (Dem).
those waskaly wepublicans!
oh...there you are... prepare for extermination....
Awesome.
Reminds me of the days before this filth:
http://www.nytimes.com/imagepages/2010/05/20/movies/20looney3.html
Tyler, I am a conservative. Is it possible to post any republican that is unusually cozy with Wall Street? I am a firm believer in cleaning your own house first, before criticizing others. I want to call/email these politicians that don't represent what we want.
Tyler, I am not associated with any political party. I have this girlfriend and she has a vagina but above it is an exceedingly long clitoris and she insists that I kiss it....please advise.
The fact that your girlfriend has a real vagina is a good thing. The long clitoris probably means it has to be satisfied often, so, be careful on how many others have kissed it before she "insists" you kiss it.
Republicans (do not) equal Conservatives
Its called a "sense" of humor spick nick. "Republicans do not equal conservatives" No shit? Was that in dispute? If you want to "post" republicans why the fuck would you ask tyler.You want to call/post republicans who do not represent want YOU want? Thanks for the laugh.
The shorter list would include who's NOT cozy with Wall Street.
"The Center's preliminary study indicates that political action committees and individuals associated with the broad finance, insurance and real estate sector have given more money to federal-level Republican interests during every month since December.
I'd be interested in a specific break down of these individual sectors donations. Surely the dems weren't expecting much from the insurance and real estate industries.
Looks like the Red team will take the field soon, never to early to start the bribes. Remember bribe early and bribe often! Nothing has a ROI like a bribe here in America, it's probably why they are not tax deductible.
Spot-on - this is just Fraud Street front-running the election with short money from their latest "investments".
Makes all the sense in the world, too. Where else can you get 1000x (or more) ROI like the people who control ginormous piles of Other People's Money?
The only " change " Obama will be doing is his soiled underwear on November 3.
You never really own politicians. You just rent them.
IMO all that is necessary if for the constituents of each party to write up a contract for all politicians to sign stating their general beliefs and what they will and will not vote on. A simple website to follow how close the contract is followed and a detailed explanation per instance why they decided to override the voters. Its called being held accountable. Townhalls and petitions would actually mean something. I'm sure the terms will be much shorter until the politicians get the hang of it.
I am with you. I am so sick of these guys and how out of touch they are with "the folks".
Actually, that's already been tried. They called it the Constitution.
I see your point. We would do better to double their salary and send them vacationing with the Obamas! Less is more....
+1
Search for "Contract From America" -- it's being tried.
Once the john has paid you and fucked you, he is under no obligation to come back again when there are so many other attractive whores working the street.
The banksters are just putting their money where the polls are telling them to. Same MO for years. Not news to anyone that has been paying attention for the last few decades, centuries, maybe even millenia.
Peter,
It doesn't matter WHERE the banksters put their money.................the Sheeple ( enough are awake for once, to make a huge difference, matters not who spends the most $$$$$$$$ telling the biggest lies).
They control a lot, but not the peoples votes...........this mid term, is like none any of us have witnessed.............
If you will stop and think about it, the PEOPLE have been hot after the GOP's ass, far more so than the Dems(as far as going against party chief picks).
The Dems have totally fkd themselves, like bleating sheep, following a Crooked assed Shepherd.
( They deserve everything they are not going to get, and more).
Short of rigging, and stealing elections, and getting out the dead to vote.Throwing the race cards, whatever it takes.These people have NO shame, none.
Both parties are corrupt, but, NO GOP party in my lifetime has totally WALKED away, IGNORED the Majority of the electorate like Bama has...never, and that's a LONG time I assure you.
There's going to be a New Sherriff in town,in November, and in 2012...........IF we are not in total chaos, and a Civil War.
Another 10-20% unemployed, homeless, clueless, you have 25-35 million Americans out for blood.................I would not want to be in D.C.,nor a long term elected official.
Excellent post - could not agree more - never been quite this outrareous.
+++ DosZap
Both are bad, but the Dems are worse. Always for the little guy, the poor...
Ain't gonna be pretty cleaning up this mess.
Wall Street would pay off Senators to off their respective mom's if they can make a dollar on it..
The more things change, the more they stay the same. There truly are nooooo alternatives anymore (maybe there never were, I simply had been told there were, and I mistakely believed it-no more).
*YAWN* Call me back when a significant portion goes to a third party.
That would only mean that said third party is paid for... not sure why that would by anything other than yawn-worthy.
All this is is a leading indicator of what will happen in November. Nothing else. Kind of like how people want to make a big deal out of Obama getting more BP money than anyone else... what did people expect... we knew it was him or Hillary from day one of the primaries. And... oooohhhh Warren Buffet supports Obama... see, Obama must be pro business... No... Warren Buffet is pro crony-capitalism... he too knew Obama was going to win. Not that the fix was in, though maybe it was, but it was simply clear.
Seems more like rats swimming back and forth between two sinking ships to me.
I wonder if they will ever head for the party that has run aground, and is thus unsinkable, ie the Libertarian party. This country was founded on libertarian principles. and those Wall Street Fools would benefit greatly in the long run if they pushed for a return to those values. I personally think they will just keep going back and forth between R and D until they drown.
The fix was in in 2007. Barrons Big Money Poll had Obama as the most likely to be the next President. Confirming 2007.
I guess when things are ripping on Wall St. you're more likely to listen to your celebrity besotted Hamptons housewife eager to be one of the in-crowd.
But when you're hemorging assets trying to keep you're prince and princess in lollipops...not so much.
However at this point (in the history of the Grand Republic) in an effort to try and get themselves out of the red and into the black they aren't doing much more than sliding their chips from red to black...
++++
I blew beer bubbles out my nose on that one!
+1000!
2012 A FLAKES ODYSSEY
http://williambanzai7.blogspot.com/2010/08/2012-flake-odyssey.html
tyler is a puzzle ... anarchist or hardline communist/maoist? true to his namesake!
That graph is just wrongity-wrong! It shows that Wall Street is "buying the best government for Wall Street".
Pathetic and corrupt! All they are doing is paying another political team to do what they want.
1. I want what's good for me.
2. I want what's bad for the banksters.
3. I want what's good for Repubicans
4. GOTO #1
make my day and junk this, you whining bitchez
Awww, this puts me to sleep well. Just let me know when you can divide by 100%.
So the smart-money is on Rethuglicans instead of Demokrauts. Looks like Parties these days are becoming like dispensible diapers. Once they've beshitted themselves, they get no more candy. Maybe everybody should just vote for Independents? At least that way there is no Party Line the incumbent is forced to follow.
Also, maybe we should just stop calling them incumbents and switch over to income-bent?
The smart money is on:
Vote
Reload
Vote Again!
Voting is futile. As anyone who was a republican from 1994 to 2008 can attest.
The only thing these sociopaths in either party will understand is the assassinations of a few of them at the top. Blood is the only cure and a gun to the head of the newly elected afterwards.
And for that to happen sufficient numbers of people have to reject the self-dealing resident in their own larcenous hearts. Good luck with that.
All the positive thinking will do nothing without a revolution of the genuine kind. You are fooling yourself to think for a second that voting will get us where we need to go. There exists in this world a "Shadow Elite", never voted for that runs all the machinery. Read the book and find out how this world really operates, to learn some of the names of those who are connected and who they are connected to and why the idea of voting is a ludicrous waste of time.
Wall Street got Obama elected--
I guess he didn't know about
"pump and dump"
the ponzi scummers got everything they wanted from Obama, now they will buy a new president
The good news is, Republicans are known for cutting spending right?
Thanks for ruining the brand for the next 30 years, Bush.