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Born at the Crest of the Empire

Tuesday, April 25, 2006

Is Wall Street betting on the Dems?

This is a really big deal, especially in the context of the "booming economy" the Bush administration keeps talking about. I just find myself wondering if this is big money donors betting the Dems will come up big in the midterms.
April 24 (Bloomberg) -- Democrats outdid Republicans last year in attracting political donations from investment banks, brokerages and fund managers for the first time since 1994, helped by support from hedge funds and companies such as Merrill Lynch & Co.....

"When the party with no power can raise more money than the party with all the power, it means people are pretty disturbed about the country's condition,'' Kramer said.


I'm sure there's no connection at all, but let's take a look back at Josh Bolten's five point "recovery plan" for the administration "leaked" to Time a couple of days ago.
2 MAKE WALL STREET HAPPY. In an effort to curry favor with dispirited Bush backers in the investment world, the Administration will focus on two tax measures already in the legislative pipeline--extensions of the rate cuts for stock dividends and capital gains.

I guess if the Wall Street folks can influence the politicians by "donating" money, then the Republicans figure they can influence Wall Street by "donating" money right back. I see Tom Delay's ghost hasn't yet left the building.

3 Comments:

  • Maybe Wall Street has been talking to Rupert Murdoch. Ther is an article in The Australia about James Baker making a comeback, now on junior's team. (http://www.theaustralian.news.com.au/story/0,20867,18931432-601,00.html)
    This has to be a damage control move, but it won't save the admin me thinks.

    By Blogger Cartledge, at 5:05 PM  

  • I think the damage has been to the perception of Bush and the administration's character, that the lie, that they're extremely warlike, that they don't care about normal people, Katrina.

    I think it would take alot to turn that around.

    Mike

    By Blogger mikevotes, at 6:04 PM  

  • it's a good sign indeed.

    By Blogger Yukkione, at 11:22 PM  

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