Wall Street Opens Wallet for GOP Senatorial Candidates

[sabra]

Source: ABC News

Financial Industry Donating Twice as Much to Republican Campaigns as to Democrats

This past spring, about two dozen bankers and hedge fund managers gathered at a New York City hotel to meet with a pair of Republican senators, Minority Leader Mitch McConnell of Kentucky and Texas' John Cornyn, chairman of the National Republican Senatorial Committee.

According to media reports, the two powerful GOP leaders had come to let Wall Street know its help would be needed to win back control of the Senate in the upcoming midterm elections.

Apparently, Wall Street got the message.

An ABCNews.com/Center for Responsive Politics analysis of financial industry contributions to senatorial campaign fundraising arms and to candidates in a dozen key races revealed a distinct fiscal alliance between Wall Street and the Republicans.

During the first six months of the year, bankers, brokers and money managers -- individually and by way of Political Action Committees -- have contributed twice as much to GOP Senate candidates than to Democratic ones.

"This is an extension of a larger corporate trend that has become quite dramatic in the past few months," said Doug Weber, a senior researcher at the CRP.

So far this year, through June 30, roughly $7 million in campaign contributions have travelled from the pockets of financial industry members into the NRSC, the Democratic Senatorial Campaign Committee, and to the candidates in pivotal Senate races in Arkansas, California, Colorado, Delaware, Illinois, Indiana, Kentucky, Missouri, Nevada, North Dakota, Ohio and Pennsylvania. More than two-thirds of that cash went to Republicans.

Among the 10 individual Senatorial candidates who got the most cash from Wall Street, seven were Republicans.

Read more: http://abcnews.go.com/Business/wall-street-opens-wallet-republican-senate-candidates-upcoming/story?id=11359466

[UrbScotty]

1. Repubs will get lots of help from apathetic DUers too (nt)

[daleo]

2. They want their tax cuts

And their bailouts.

[RUMMYisFROSTED]

3. So the Dem strategy of kissing their asses is failing.

:argh:

[Doctor_J]

4. As everyone knew it would

This might be the most mismanaged presidency ever. W's was the worst by a mile, but this could have been historic.

[okieinpain]

5. now that's how you do it. don't vote for it but benefit from it.

that's a win - win in anybodies book. why didn't the genius working for president obama see this coming.