Wall Street Political Donations Move to GOP
Christopher Weber
Correspondent
Posted:
02/24/10
Political donations from Wall Street firms are increasingly going to Republicans after Democrats promised to crack down on lending practices, outsize profits, and fat executive bonuses, according to new research.
The Center for Responsive Politics found that banks and their workers gave nearly twice as much to the GOP during the last three months of last year, The Washington Post reported.
Securities and investment firms started out 2009 giving to Democrats by a 2-1 margin, but finished the year with nearly half of their donations ending up with Republicans.
Overall in 2009, Democrats still came out ahead in Wall Street donations and analysts said it is too early to tell whether the move toward Republicans is a sustainable trend.
The Center for Responsive Politics found that banks and their workers gave nearly twice as much to the GOP during the last three months of last year, The Washington Post reported.
Securities and investment firms started out 2009 giving to Democrats by a 2-1 margin, but finished the year with nearly half of their donations ending up with Republicans.
Overall in 2009, Democrats still came out ahead in Wall Street donations and analysts said it is too early to tell whether the move toward Republicans is a sustainable trend.
Republicans are wasting no time hitting up Wall Street for donations, arguing that Democratic policies will hurt firms' bottom lines, the Post reported. House Minority Leader John Boehner (R-Ohio) said this month that he was urging Wall Street executives to "help our team."