Wall Street leads surge in corporate political giving (Dems Big Beneficiaries)

Reuters ^ | Nov 27, 2007 | Kevin Drawbaugh

[Aristotelian]

WASHINGTON (Reuters) - Big business is shoveling more money than ever into U.S. political campaigns, with Wall Street donations way up, a watchdog group said on Tuesday.

The securities and investment industry -- which includes brokerages, hedge funds and private equity firms -- registered the sharpest increase in giving since 2004 among all industry sectors studied by the Center for Responsive Politics. . . .

In both presidential and congressional contests, Democrats are benefiting more than Republicans from the surge in business donations, with 57 percent of giving from typical big donors going to Democrats versus 43 percent in 2006 and 2004.

More money is coming in from lawyers than from any other sector, as usual. But the biggest increase in giving since 2004 is coming from financiers, whose donations are up 91 percent. . . .

Wall Street's favorite presidential candidate, based on the latest FEC disclosures from October 29, was Democratic New York Sen. Hillary Clinton. Close behind her in donations from financiers were Republican former New York Mayor Rudolph Giuliani and Democratic Illinois Sen. Barack Obama.

[Aristotelian]

The data suggest the race is wide open, though Hillary is given a slight edge. The money goes to whomever the donors think has the best chance of winning.

[kittymyrib]

The banking industry is attempting to buy a bail-out for their lousy judgment in the sub-prime mess by putting their bet, and their cash, on Hillary.

[misterrob]

I understand that there are plenty of NY liberals giving money but Wall St. isn’t stupid so I am inclined to think that they are hedging their bets a bit as well.

[jveritas]

Many times the donors are wrong, they are very dumb politically if they think Hillary Clinton is going to win, very studio.

[EagleUSA]

The banking industry is attempting to buy a bail-out for their lousy judgment in the sub-prime mess by putting their bet, and their cash, on Hillary.
::::::
And Hitlery, will do SAY AND PROMISE ANYTHING TO ANYONE who represents a vote to her. She is methodically trying TO BUY THE PRESIDENCY. She certainly cannot earn the seat, because her list of DISQUALIFICATIONS is so long, it cannot be approached. Can you imagine the impact? A Marxist in the White House and a socialist-dominated Congress? The impact on the economy? Our freedoms? The Constituition? The Judiciary? It would be the wooden stake in the heart of our Constitutional Republic..... buying the Presideny? Yes, it is her only chance. And if these fools believe ANYTHING this Marxist medusa says, they will be on the receiving end of something they did not bank on — literally.

[backtothestreets]

I’d like to know what percentage of these donating firms are owned in part by citizens of other countries.

[STARWISE]

“More money is coming in from lawyers than from any other sector, as usual. But the biggest increase in giving since 2004 is coming from financiers, whose donations are up 91 percent.

Steep increases are also coming from the real estate industry, Hollywood, healthcare professionals and insurers.

Industries with small increases, and even some decreases, tend to be past Republican allies, said the center’s analysis.

Automakers have been staunch Republican supporters since 1990, but in this campaign cycle their giving is down 20 percent. Declines are also evident among grocers, food processors and telephone companies, the center said.”

~~~~

Not good.

[elpadre]

if the finance sector is going Democrat and the yo-yo market place is trying to favor Democrats; is it possible that DNC is in some way influencing the stock market??

[jveritas]

In fact it is a meaningless report.

[Professional]

57 from 43? That is a massive change. That cannot be good.

BTW, I’m at a big financial institution. They put the high pressure on us, to participate in the PAC. No limit for me to contribute I don’t think, and you do not need to be a citizen to give to a political action committee. I asked about that twice.

The company says it is bipartisan, does not favor one party or the other, but tries to financially support people that help with he bank’s causes.

[STARWISE]

Oh .. hopefully, because the Democrats
won’t win in spite of that, right? I
have a feeling you’re right and I’m
praying so.

[Mo1]

They reason why the are banking on Hellary is because they are hoping for a bail out

At the taxpayers expense

[Mo1]

BTW, I’m at a big financial institution. They put the high pressure on us, to participate in the PAC. No limit for me to contribute I don’t think, and you do not need to be a citizen to give to a political action committee. I asked about that twice.

I didn't know that about PAC's .. thanks for the info

[EagleUSA]

is it possible that DNC is in some way influencing the stock market??
::::::
Certainly a wish of the DemoRats. Creating as many negative problems as possible is a big part of their empowerment strategy —

[Professional]

You mean George Soros? He’s their biggest finance backer, and you better believe he manipulates the market, and has been at war against the USD since 2003. He has enormous power, financially and politically. The biggest dem donor, is the biggest enemy to the USD... That is sick isn’t it?

[elpadre]

that is scary!!