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Wall Street Banksters Reward Washington Republicans for their Loyalty
The banksters are paying off the Republicans for shilling for their interests:
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.
But, that's not enough for the Washington Republicans. Republican insiders want more.
Meanwhile, the Wall Street firms have also begun writing large checks to the Republican Party, while stiffing the Democratic Party. Goldman, KPMG, and FMR Corp. (the owner of Fidelity Investments) each gave $15,000 to the Republican Party in March.
The change of allegiance comes as Congress closes in on legislation that would overhaul financial services regulations. Democrats back an aggressive bill that has been so far blocked in the Senate by Republicans.
Republicans have grown frustrated by the fact that Wall Street companies and employees continue to write big campaign checks to Democrats even as the GOP stands up for the industry on Capitol Hill.
Republican insiders admit that they're shilling for Wall Street! And, they expect to be paid handsomely for it. The American people need to know that the Republican Party is doing Wall Street's bidding in Washington.
