Eh boy. Republicans Chase Wall Street Donors – WSJ.com

Posted by Jason | Posted in Government | Posted on 04-02-2010

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Just when you think the tea parties are having an effect, the Republican establishment shows how stupid they are.

Republicans are stepping up their campaign to win donations from Wall Street, trying to capitalize on an increasing sense of regret among executives at big financial institutions for backing Democrats in 2008.

In discussions with Wall Street executives, Republicans are striving to make the case that they are banks’ best hope of preventing President Barack Obama and congressional Democrats from cracking down on Wall Street.

GOP strategists hope to benefit from the reaction to the White House’s populist rhetoric and proposals, which range from sharp critiques of bonuses to a tax on big Wall Street banks, caps on executive pay and curbs on business practices deemed too risky.

Democrats have dominated Wall Street’s fund-raising circles in recent elections. Mr. Obama himself raised millions of dollars from employees of Goldman Sachs Group Inc., Citigroup Inc., J.P. Morgan Chase & Co. and other Wall Street firms.

Now, at least some Wall Street executives have reduced their political contributions to the Democratic Party and its candidates, according to fund-raising reports and interviews with executives at financial-services firms.

Last week, House Minority Leader John Boehner of Ohio made a pitch to Democratic contributor James Dimon, the chairman and chief executive of J.P. Morgan, over drinks at a Capitol Hill restaurant, according to people familiar with the matter.

Mr. Boehner told Mr. Dimon congressional Republicans had stood up to Mr. Obama’s efforts to curb pay and impose new regulations. The Republican leader also said he was disappointed many on Wall Street continue to donate their money to Democrats, according to the people familiar with the matter.

via Republicans Chase Wall Street Donors – WSJ.com.

Isn’t democracy grand? We have slime balls on all sides being controlled by Wall Street all the while plotting how they can deceive the average voter that they are trying to protect them. Obama’s White House is full of Wall Street insiders, so to believe they are going to hold Wall Street accountable is just silly. All that needs done to hold them accountable is allow them to fail.

Republicans are just asking to lose their momentum. They should not be begging Wall Street to allow them to be their laptop dogs. They should not be calling for caps on pay. They should be calling for the government to get out of the economy and out of the bailout business.

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Comments (2)

This is why myself and many others have lost faith in the Republican party. Both sides claim they’re better than the other, but they’re actually just 2 sides of the same coin, something you’ve mentioned more than once in these pages.

I don’t think even the Tea Party or any other conservative group is ready to make serious inroads in 2010 or 2012. Joe Kennedy was actually the truer conservative in MA, but conservatives got behind Scott Brown because of the R, thinking he was a true Republican. Unfortunately those people apparently didn’t see or didn’t care that he said on more than 1 occasion he’d vote for Democratic bills if they were “better”.

Let’s hope a conservative candidate emerges from the Republican party or this party is sunk.

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John, I completely agree. I used to be one of those guys who always stuck up for the Republicans. It wasn’t till I started this blog and dug deeper into my beliefs, that I realized that Republicans are just as bad.

I’m hoping the tea party becomes a movement to shrink the government back to what it was before Wilson. While it probably won’t happen, one can always wish. Maybe both the left and right will become sick enough of what they hate about government (elective war for the left and entitlements for the right) that they will compromise on a small government that can’t do either.

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