"The shift in political focus overall in donations to Congress has been clear. The industry's contributions went from a 52-48 percent split in favor of Democrats in 2007-2008 to a 54-46 percent split in favor of the GOP in 2009-2010"
Wow, what a difference!
"Bank overhaul battle pays off for Republicans; Wall Street donors shift party’s way" by Donovan Slack, Globe Staff / May 15, 2011
WASHINGTON — Republicans fought a hard but ultimately losing battle to block the Wall Street regulatory overhaul that Barney Frank and his fellow Democrats guided through Congress last year. But now they are turning the legislation known as the Dodd-Frank law to fullest advantage.
Related: Senate Sends Along Financial Fraud Bill
Also see: Who REALLY Runs Washington
The GOP is winning a larger share of campaign money contributed by banks and other Wall Street interests who want to roll back elements of the stricter rules.
Mitt Romney is attracting heavy support for his presumptive presidential campaign from executives who occupy office towers in downtown New York, while Republicans in Congress also are soaking up large donations as they push a flurry of bills that would unravel a new consumer protection agency, scale back derivatives regulation, and more.
Frank says the financial sector is doing everything it can to escape stricter regulation.
“Wall Street’s very grumbly, very angry,’’ he said in an interview. “They want to return to the good old days.’’
Related: Wall Street Writing Washington Regulations
Bank Book: Balancing the Bottom Line
Happy days are here again, 'eh?
Sick of the political diversion yet?
Political analysts say the sheer scope of the financial regulatory overhaul — reaching into many aspects of banking, lending, commodities, and securities exchanges — could portend continued contribution growth for Republicans as the 2012 election looms.
“I think it’s a very potent issue,’’ said Jennifer Duffy, senior analyst with the nonpartisan Cook Political Report. “It might be a gift that keeps on giving.’’
The Financial Services Roundtable, an industry trade group, declined to discuss the campaign contributions, but said the industry, in general, is concerned about some of the provisions in the regulatory overhaul. The industry fought vigorously against the law last year, spending hundreds of millions of dollars on more than 2,500 lobbyists to challenge it.
Scott Talbott, spokesman for the trade group, said the industry isn’t seeking wholesale repeal of Dodd-Frank but some changes are needed....
Then the wall went up.
To be sure, Democrats from President Obama on down still command heavy contributions from Wall Street.
Yeah, right, they command Wall Street not the other way around, sure.
New York Senator Charles E. Schumer leads all senators in campaign support from the financial industry.
Related: Slimy Schumer
Schumer and three other Democrats ranked ahead of Republican Scott Brown of Massachusetts, who was the top Republican recipient of financial industry support in the Senate in the 2010 election cycle....
Related:
"Brown has been holding fund-raisers around the state in recent weeks and continues to draw consistent media coverage, which was boosted by the release of his memoir in February. He was also caught on video soliciting money from the conservative billionaire Koch brothers."
"67 percent of voters said they were not interested in Brown’s life story."
Globe sure is:
Brown Book Promotion
Also see:
Who Bought Brown's Election?
The U.S. Senate's Chief Brownnoser to Israel
Brown's Nose Buried Deep
I think his seat is safe; the rigged machines will see to that.
--more--"
More: Buying a Change of Congress
What's with the discrepancy in numbers?
