Wall Street funds GOP – betting on easier treatment

Gee, I wonder if Obama now regrets going so easy on Wall Street. By seeking that middle ground – the middle ground that is actually hunkered down in the middle of Wall Street – he angered the left who believed he could have done much more. Even with minor changes that rescued the exclusive lifestyle of the pampered bums on Wall Street, he infuriated Wall Street who now are throwing cash hand-over-fist to the Republicans. What a wasted opportunity to promote real change and instead, infuriate everyone along the way. If there’s anyone outside of the White House that is impressed with the so-called Wall Street reform, they’re in deep hiding.

Obama’s Wall Street reform was a slap in the face to the rest of the country yet Wall Street continues to feel they are entitled to royal treatment. The Obama economic team really does deserve to be sent packing. NY Times:

Generally Democrats have been favored by Wall Street, getting 70 percent of donations from the securities and investment sector just 18 months ago. But by the time Congress took up the financial regulations legislation this June, Republicans were getting 68 percent of the donations, according to an analysis by the Center for Responsive Politics, a nonpartisan research group.

In the 2010 election cycle, financial industry donors, from brokers to real estate interests, have contributed $180 million to both Republican and Democratic Congressional candidates, the analysis showed.

Dave Levinthal, a spokesman for the center, said: “What this says is that Wall Street is awfully angry with Democrats and sees Republicans as a better bet. They’re making an investment in the prospect of a Republican-controlled Congress that they perceive to be more favorable toward their bottom line.”

And in case you missed it, Bernanke’s announcement on Friday was HUGE news. The Federal Reserve chief confirmed that if the economy softens up (more) again he plans to bail out Wall Street yet again. No, the lessons learned during the crash didn’t make it to the inner corridors of power. How is it possible to even consider another bailout of Wall Street after all of this? They wanted capitalism so let them eat it.


An American in Paris, France. BA in History & Political Science from Ohio State. Provided consulting services to US software startups, launching new business overseas that have both IPO’d and sold to well-known global software companies. Currently launching a new cloud-based startup. Full bio here.

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