How did Republicans get saddled with Wall Street? Obama just got the biggest campaign haul from Wall Street in world history, and Republicans still can't shake the public perception that they are tied at the hip to Wall Street bankers who hate them.
It's as if National Rifle Association members conspired with Republicans to bankrupt the country and everyone blamed the Democrats for being shills of the NRA.
Maybe if the financial capital of the nation were located in Salt Lake City, rather than Manhattan, the financial community would support Republicans. But Wall Street is a street located in New York City.
No one in the top echelons of the financial industry who has a weekend place in the Hamptons is a Republican.
No, there is one. Teddy Forstmann. He has to throw his own parties and fly guests in. Otherwise, if they want to go to any half-decent parties, bankers must be Democrats. At their income bracket, multimillionaires will trade a little extra tax money for good cocktail parties.
Even the "Republicans" on Wall Street don't care about national defense or social issues. They just want to trade with China and hire illegal aliens.
Last September, The New York Times reported that individuals associated with the securities and investment industry had given $9.9 million to the Obama campaign, $7.4 million to the Hillary Clinton campaign and only $6.9 million to the McCain campaign. Either they're all Democrats or some commodity named "hope" was going through the roof last year.
Employees of Lehman Bros. alone gave Obama $370,000, compared to about $117,000 to McCain. (No wonder Bush let them go under.)
According to an analysis of Federal Election Commission records by the Center for Responsive Politics, the top three corporate employers of donors to Barack Obama, Joe Biden and Rahm Emanuel were Goldman Sachs, Citigroup and JPMorgan. Six other financial giants were in the top 30 donors to the White House Dream Team: UBS AG, Lehman Bros., Morgan Stanley, Bank of America, Merrill Lynch and Credit Suisse Group.
Since 1998, the financial sector has given a total of $37.6 million to Obama, compared to $32.1 million to McCain. But Obama ran for his first national office only in 2004. So McCain got less from the financial industry in a decade that included two runs for president than Obama did in four years.
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