Wall Street is pouring money into the campaign coffers of the Republican Party. The Republicans stood up for Wall Street on Capitol Hill, and, Wall Street is paying them back:
Financial firms and the people who work for them are increasingly donating their political cash to Republicans, according to a preliminary Center for Responsive Politics analysis of second-quarter federal campaign finance data.
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...
Contribution trends toward Republicans is particularly pronounced in the securities and investment industry, the Center finds...
The Republicans stand up for Wall Street. So, Wall Street is standing up for the Republicans.
When the farmer throws out the corn, the pigs run to the trough. That's what's happening in American politics today. Wall Street is throwing out the coin and the politicians are scurrying to grab it up.
John Boehner and Mitch McConnell have sensed an opportunity. By staking out pro-Wall Street and anti-Main Street positions against financial regulatory reform, they know they have positioned themselves in the right place to maximize their ability to grab up that Wall Street coin. The WSJ observes:
Republicans are stepping up their campaign to win donations from Wall Street, trying to capitalize on an increasing sense of regret among executives at big financial institutions for backing Democrats in 2008.
In discussions with Wall Street executives, Republicans are striving to make the case that they are banks' best hope of preventing President Barack Obama and congressional Democrats from cracking down on Wall Street.
GOP strategists hope to benefit from the reaction to the White House's populist rhetoric and proposals, which range from sharp critiques of bonuses to a tax on big Wall Street banks, caps on executive pay and curbs on business practices deemed too risky.
Wall Street knows where their bread is buttered. Many of them are against real reform because they know their profits are at stake. So, they're investing in the Republican Party to stop real reform. Read the story and find out where Wall Street is investing to scuttle reform.