Wall Street Loves Politics

Posted by John Carney, Feb 04, 2008, 2:08pm

As it turns out, Wall Street gave heavily to the Presidential campaigns last year, proving once again the axiom: "Make money in good times, make friends in bad."

Leading all corporate donors in campaign donations as of the end of last year was investment banking giant Goldman Sachs, based on an analysis of Federal Election Commission records, the Center for Responsive Politics said.

The next four largest corporate donors were Citigroup, Morgan Stanley, Lehman Brothers and Merrill Lynch, according to the center's fourth-quarter preliminary analysis, which is subject to revision.

The total of Wall Street’s giving for this presidential race has hit almost $34 million. And who are the new friends of Wall Street? Democratic leaders Hillary Clinton and Barack Obama have been the biggest beneficiaries of this cash, each collecting for than $5 million. As always, it's unclear whether this is because Wall Street favors their policies or simply likes to bet on winners.

Corporate U.S. presidential campaign giving surges [Reuters via Guardian]

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Posted by EE, Feb 04, 2008 2:22PM

i'm going to confidently say its the latter (betting on winners), can there even be a discussion about this?

Posted by , Feb 04, 2008 2:27PM

I don’t remember ever being interested in who becomes President because everyone was essentially interchangeable. Ron Paul is the first time a Presidential candidate has gotten me excited about the erections.

Posted by , Feb 04, 2008 2:31PM

I would bet it's because both Hill and Osama are democrats and thus can cause the most damage to Wall Street (as compared to business-loving republicans). Should either Hill or Osama take office, the next democratic president will be pushed to open possibly criminal investigations into Wall St defrauding average Joe (the core democratic constituent).
So, I think "make friends in bad times" is right on the money, except that for Wall St. to make real friends, it got to pay up.

Posted by Anal_yst, Feb 04, 2008 2:34PM

Ya, we're all royally f'd if a dem wins, although with Bush's budget released today, i'd say we're already F'd up the arse for at least the next 5 generations, f'in retard he is...

Posted by ha ha, Feb 04, 2008 2:35PM

2:27
If even Ron Paul can get you excited about erections, you really got to get your head checked !!!

Posted by , Feb 04, 2008 2:40PM

to DB staff - please do not delete the post @2:27, it deserves to stay

Posted by , Feb 04, 2008 2:52PM

While I can't speak for others, my guess is that even Anal_yst would allow 2:27 to stay.

Posted by Bugs Meany, Feb 04, 2008 3:52PM

@ 2:31

"average Joe (the core democratic constituent)"

Not at all average Joes are Dems--just the ones who've never heard the phrase "personal responsibility."

Posted by Anal_yst, Feb 04, 2008 4:11PM

@ bugs, thats spot on. Dems are all about seperating us from the consequences of our actions (at least the ones we should be learning from)

Posted by , Feb 04, 2008 4:18PM

@4:11 Its only that simple on the Rush Limbaugh show.

Posted by Anal_yst, Feb 04, 2008 4:34PM

And on Bill O'Riely (sp?)

Also that RP comment can stay, but axe the rest of 'em.

Did anyone see the poll on Facebook over the weekend asking whether people thought Mitt Romney would be a good president (hint, the results were a strong "no")?

The vast majority were typical liberal, ignorant garbage, it was seriously difficult to read through how retarded most(ly college) kids are...shame that a president who actually understands logic, reason, and numbers has no real chance of winning (wesley clark had the same problem).

Posted by , Feb 04, 2008 4:39PM

I agree your observations on Romney's good points. Problem is that he ran a campaign that progressively hid those qualities. Its no secret thet the R's are a loose coalition of three very disparite constituencies: pro-business, strong defense, conservative values. He of course focused on the third leg, looking foolish in the process.

Posted by , Feb 04, 2008 4:40PM

That is one of the funniest Ron Paul comments I have read.

Posted by , Feb 04, 2008 4:47PM

@4:34 I take it as a badge of honor that I don't know how to spell Limbaugh (is it Limbugh? I could look it up but don't want to taint my cache)

Posted by Ken Houghton, Feb 04, 2008 5:14PM

I'll take the other side of EE's bet. I knew in 1992 that Bill Clinton would win where Ace publicly endorsed him--not before.

Posted by , Feb 05, 2008 7:55AM

I'm sure you have already cached your taint

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