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Banksters vote for the real Republicans


Commercial banks and high-flying investment firms have shifted their political contributions toward Republicans in recent months amid harsh rhetoric from Democrats about fat bank profits, generous bonuses and stingy lending policies on Wall Street.

Obama had unusually strong backing from Wall Street for a Democratic presidential candidate. He raised more than $18 million from bank and brokerage employees, for example, compared with rival John McCain's $10 million. (Obama did not accept money from PACs.) Prominent among Obama's bundlers -- individuals who raised at least $50,000 -- were private equity executives and hedge fund titans, including billionaire Kenneth C. Griffin of Citadel Investment Group, who had previously backed Republicans.

The wealthy securities and investment industry, for example, went from giving 2 to 1 to Democrats at the start of 2009 to providing almost half of its donations to Republicans by the end of the year, according to new data compiled for The Washington Post by the Center for Responsive Politics.

Commercial banks and their employees also returned to their traditional tilt in favor of the GOP after a brief dalliance with Democrats

So, these sure are "savvy businessmen"! Let's review!

1. The banksters fund Obama early, helping to assure his selection as Democratic nominee.

2. Obama stays bought by whipping for TARP, thus legitimizing and giving cover to every other bailout that Hank Paulson Bush administration did.

3. Obama stays bought by running the fake stress tests.

4. Obama stays bought by not investigating or prosecuting any bank officers for accounting control fraud.

5. Obama stays bought by proposing toothless financial regulations.

6. Obama stays bought by letting the big banks become even bigger.

7. Obama uses some weak rhetoric and proposes a few cosmetic changes for better optics with the voters, pre-2010.

8. The banksters shift their money to the real Republicans.

Nobody could have predicted....

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gqmartinez's picture
Submitted by gqmartinez on

Out with the same old, in with the same new. Of course there were going to people jumping the GOP's ship when Bush ruined that brand. And of course these same people are going to jump the FKDP's ship now that Obama and the Congress has ruined this brand.

Tony Wikrent's picture
Submitted by Tony Wikrent on

Wall Street knows the next few shoes of the financial crises are about to drop: commercial real estate, sovereign debt. Wall Street, being precisely tuned in to what's about to happen, knows that under the conditions of a second downturn in both the financial system and the real economy, it will be well nigh impossible for the Democratic Party to resist the raging populist hordes of "dirty fucking hippies" screaming for Wall Street's blood. But at the same time, a second downturn in both the financial system and the real economy is going to be wholly owned by the party in power - guess who that is. Thus, from Wall Street's perspective, not only is the Democratic Party about to be forced to be less "reasonable" when it comes to bending over for Wall Street, but the Democratic Party is also about to get an economic albatross hung about its neck, with the result that the Dems are going to get, if not clobbered, at least reprimanded, at the polls.

Submitted by jawbone on

real Dem candidate, substituted the ostensible, cool, young Dem, and achieved their aims. They got their money's worth.

Hillary, I believe, would have been a harder on Wall St. I may be wrong, but we'll never know. But if she had done what Obama has done, she would have been called on it from left to MCM to right.