Wall Street Rules Help GOP Fill Campaign Coffers

[TomCADem]

Source: Wall Street Journal

Republicans may lose the fight over Wall Street regulations, but the fight has helped their campaign accounts.

For the first time since 2004, the biggest Wall Street firms are now giving most of their campaign donations to Republicans.

A Wall Street Journal analysis of 12 large financial services companies, including J.P. Morgan Chase & Co., Goldman Sachs Group Inc. shows that they have collectively made $1.4 million in political donations, with 52% going to Republicans so far this year. That’s a reversal from last year, according to the most recent round of fund-raising reports covering January, February and March.

Last year, J.P. Morgan’s political action committee gave about 60% of its $100,000 in donations to Democratic candidates. But in the first three months of 2010, the company’s PAC has reversed that trend, sending about 60% of its donations to Republicans.


Read more: http://blogs.wsj.com/washwire/2010/04/27/wall-street-rules-help-gop-fill-campaign-coffers/

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Here is Wall Street Journal article celebrating the GOP's fundraising prowness among Wall Street firms due in part to their efforts to kill financial reform. Does anyone see a problem with this? Apparently not, as the media praises Republican efforts at bipartsanship, which means preventing public debate, and demanding concessions behind closed doors.

With HCR, the media happily repeated GOP talking points about a transparent process. In this debate, the media happily repeats GOP talking points that preventing any public debate is bipartisan while the GOP is raising money hand over fist.

[Hawkeye-X]

1. It's too bad that the corporations can't vote

so the money is a waste, and the Republicans are going down big time in flames this November.

[Jackpine Radical]

2. Gawd, I hope you're right, Hawk.

In the past, money bought TV time & TV time brought votes. Maybe it won't work that way this time. Maybe.

[Kablooie]

3. This is pretty scary. Especially with unlimited donations now.

And with the GOP not caring about anything but winning at any cost.
If they get enough money they will be hard to beat.

[TomCADem]

4. It Underscores That The "Anti-Wall Street" Tea Party Crowd Is Just Corporate Astro-Turf

Here is the GOP openly watering down financial reform, collecting millions in Wall Street donations, and spreading obvious lies about corporate bailouts that even Bob Corker, a Republican Senator, says is untrue, and the Tea Party crowd is no where to be found. I guess without the corporate funded buses, and Freedom Works funneling corporate money for "grassroots" operations, the Tea Party rent-a-rally disappears.