Posted on 08/26/2004 9:21:19 PM PDT by walden
Wall Street's enthusiasm for US President George W. Bush appears to have cooled as the presidential race tightens and concerns grow about foreign policy and fiscal deficits.
Some leading fundraisers of Mr Bush's re-election bid have stopped active campaigning and others privately voice reservations.
The New York financial community is expected to give the Republicans a lavish welcome when the president's party arrives for its national convention next week. Wall Street has been a big contributor to Mr Bush's record-breaking re-election fund. But one senior Wall Street figure, once talked of as a possible Bush cabinet member, said that he and other prominent Republicans had been raising money with increasing reluctance. “Many are doing so with a heavy heart and some not at all.” He cited foreign policy and the ballooning federal deficit as Wall Street Republicans' main concerns.
A Republican in the financial services industry concurs. “Many of them may be maxed out,” he said, referring to campaign contributions that have hit the legal ceiling, “but they are backing away from Bush.”
The deficit has been criticised by Peter Peterson, chairman and co-founder of Blackstone Group, the New York investment firm, and former commerce secretary under President Richard Nixon. In his new book, Running on Empty, he accuses both parties of recklessness but attacks the Republican leadership for a “new level of fiscal irresponsibility”.
One New York dinner in June 2003 raised more than $4m, partly thanks to the efforts of Stan O'Neal, chief executive of Merrill Lynch. Yet Mr O'Neal has done no fundraising for the campaign at all since then and friends say he is not supporting Mr Bush. “He is best described as independent,” said one. Another senior Wall Street figure, who has given money to the campaign, said he was among many Wall Street bosses who were impressed with Mr Bush's handling of the September 11 attacks. “But since then, I have lost faith over foreign policy and tax,” he said.
Even those who are campaigning for Mr Bush sound increasingly defensive. “Whether or not you like him, you can't change leaders during a war,” said the head of one Wall Street firm.
So what? Do you honestly believe that every single Wall Street honcho supports Bush? It's a ridiculous premise that is only verabilized as an instrument to attack Bush.
No, I think it's exactly what it appears to be, a propaganda piece designed to make it look like Bush is losing support. But, on the off chance I'm wrong, I asked the question. Got a problem with that?
The rest are all Democrats. They're smart, well-educated people. Unfortunately, like too many well-educated people, they cannot resist the idea that they have all of the answers to life's probelms, and only government can put those answers into effect for the little people.
Thanks guys, but we already got your money, you can shut up now. The $75 mil in general election money is about to come in.
I heard that the New York street hookers have not been supporting the president. But their clients all seem to support Bush.
Wait till he have another attack...we'll see how fast they jump on the band wagon. Everyone loves you when your on top..how soon they have forgotten about 911, and they are in NY...the very heart of the attack.
London FT has been quite anti-Bush. For this article they've cherry picked a couple of quotes. No worries.
The ONLY time the market rises is when Bush is in the lead. Every time Kerry goes out in front there is a sell off.
The Swiftboat ad cost hardly anything but it blew away the hundreds of millions of dollars spent by both sides.
When you have a message, you can beat money.
Thanks for pointing that out. It's an obvious flaw in the whole premise of this story.
True. My only point was the FT is typical of the anti-Bush media. Take a couple of anecdotes and call them "a worrisome trend," or something. One thing the ad says is blatantly untrue: Wall Street loves the pro growth tax cuts. Far from being critical over tax policies, if anything the growth hawks think they were too anemic. (And they were, thanks mostly to RINO Senators from East of the Hudson river.)
Kerry wouldn't even be in the presidential race if he could not have borrowed all that money against "his house" months ago. A house which was bought with money that actually belonged to a Republican. The lat Mr. Heinz. Kerry had to have a guy die so he could run for president.
Can anyone point to one productive thing Kerry has actually ever done on his own?
Just business, nothing personal~ don't talk politics or religion in mixed company~ Republicans know this, liberals do not. Thus, liberals will lose their jobs and slowly drift away into the dust bin of history; while the quite conservatives will expand their power.... a very great future; evolution is a great thing;
Exactly. And to perpetuate the myth that the Republican Party is a "party of the rich." In fact Republican donations come from monstly small donors--not fat cats--like the Dems'.
>>Can anyone point to one productive thing Kerry has actually ever done on his own?<<
Figuring out how to get out of a 1 year tour of duty in Vietnam in only 4 months.
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