Oh yes, one would have to be blind not to see the hypocrisy, but this is nothing new. Wall Street has been stuffing the pockets of politicians, Democrat or Republicans for as many years as I can remember. Then when an issue arises that the party has to byte the hand that feeds it, they act as if the millions they have received does not influence their decision. However, I think we make much to much of the idea that votes are being bought and legislation is being crafted to benefit the donor. Remember the politician often has other large contributors that have conflicting goals. I remember some retired Senator made a comment about campaign contributions. He said a contribution just gets the contributor into your office. A large contribution insures that the Senator will listen which means you and I have very little voice.Wall Street just like most big corporate donors go with the winner. They start off contributing to both campaigns. As the elections approaches and they think they know the winner, they will increase contributions unless they feel additional donations won't buy them anything. This holds true for all parties and all elections.Well... you could talk about Bush and Enron contributions but then that was just pocket change compared to Obama and the Democrats...but I'm guessing Democrats no longer care... a convenience of memory..
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When President Barack Obama's vast new regulatory state is completed, Wall Street firms ought to have a competition over the naming rights.
Will it be the CitiDeal? Or the Goldman Society? Or the UBS/J.P. Morgan Joint Initiative for the Establishment of a Social Democracy
The Democratic majority was bought and paid for by Wall Street and corporate money. The Masters of the Universe helped give us the Masters of the Beltway, in a synergistic exercise that would have dumbfounded even Lenin.
Democrats beat Republicans in the Wall Street money chase in 2006, and kept on going. In the 2008 election cycle, Democrats garnered 73 percent of the political donations of Goldman Sachs, as well as the majority of donations from other financial giants such as UBS and Citigroup. They soaked up most of the hedge-fund money, and won the battle for donations from industries as varied as health care, defense, and law.
RealClearPolitics - The Wall Street Democrats
I can hardly disagree but do you recognize the hypocrisy? (by the the way, I hate the word hypocrisy)
I feel the greatest problem we face is the huge influence of the large contributors. The answer is real campaign reform.
