http://www.washingtonpost.com/wp-dyn/articles/A50364-2004May23.htmlWall Street Firms Funnel Millions to Bush
Finance Sector Produces Surge of Cash to President Who Cut Taxes on Dividends, Gains
At Merrill Lynch & Co. Inc., a suggestion from chief executive E. Stanley O'Neal is not to be taken lightly. O'Neal eliminated 24,000 jobs, froze pay and steadily pushed out competitors for executive power, including colleagues who had championed his rise up the corporate ladder. "Ruthless," O'Neal has reportedly told colleagues, "isn't always bad." So it came as no surprise that when O'Neal sent letters to senior executives at Merrill Lynch in early June asking them to contribute to President Bush's reelection campaign, the response was prompt and generous.
Between June 12 and June 30 of last year, the Bush-Cheney campaign was inundated with 157 checks from Merrill Lynch executives and at least 20 from their spouses; 140 checks were for the maximum allowed by law: $2,000.
Total take generated by the O'Neal letter: $279,750 in less than three weeks. When that total is combined with the rest of the money contributed to Bush by employees during the current election cycle, Merrill Lynch personnel have given $459,050, according to Dwight Morris & Associates, which studies political money.
O'Neal is one of nine Wall Street "Rangers" -- each one has raised at least $200,000 for the Bush campaign. In addition, five other executives of prominent securities firms have raised at least $100,000 each to qualify as Bush "Pioneers."