Wall Street Donated Heavily To Boehner As The GOP Blocked Funding For Dodd-Frank

[Donnachaidh]

http://thinkprogress.org/economy/2011/07/25/277699/wall-street-donations-boehner/

House Republicans, including Speaker of the House John Boehner (R-OH), were calling for repeal of the Dodd-Frank financial reform law even before it had passed. Once they achieved a majority, House Republicans worked to undermine the law by cutting the budgets of financial market regulators and trying to slow down the implementation of several of the law’s provision.

And Wall Street evidently appreciates the effort, donating heavily to Boehner over the first half of this year. As Bloomberg News reported, “three of the five biggest sources of Boehner’s campaign cash this year are employees of three Wall Street investment houses, a shift from the 2010 election cycle when such contributors weren’t ranked among his top 10 donors”:

Employees at the New York hedge fund Paulson & Co. contributed $61,050 to Boehner’s campaign account, more than any other company. New York-based Moore Capital Management LLP employees gave $53,000, while those at Cantor Fitzgerald LP donated $45,000.

No one from any of those companies donated to Boehner for his 2010 re-election campaign, according to the Center for Responsive Politics, a Washington-based research group that tracks political money. <...>

More at the link --

[sakabatou]

1. Not surprised.