Political contributions from Wall Street are shifting from Democrats to RepublicansPolitical contributions from Wall Street are shifting from Democrats to Republicans.

The swing from Democrat to Republican candidates during the second quarter coincides with financial reform legislation pushed through by President Obama in an attempt to protect Main Street from corporate greed. Republicans, joined by some on Wall Street, say the reforms are costly and over-reaching.

The trend is outlined in a preliminary analysis of federal-level campaign contributions by the Center for Responsive Politics.

180-Degree Shift This Year

The analysis found that during March 2009, Wall Street firms and people working for them directed 70% of their federal contributions to Democratic candidates, party committees and leadership PACs. In June of this year, there was a 180-degree shift, with 68% of contributions going toward Republican candidates.

Wall Street individuals, including company executives and middle managers, are the primary drivers of a Republican campaign donation shift, the Center's research indicates.

"Individuals working within this industry favored Republicans by a nearly 7-to-10 margin in June," said David Levinthal, communications director with the Center for Responsive Politics. "That's a significant departure from the beginning of 2009, when individuals working in this industry favored Democratic interests with $6 for every $10 spent on federal-level political interests."

The center, a Washington, D.C.-based non-partisan organization, noted that the percentage appears to show that the financial sector in June has given a greater amount of cash to federal-level Republicans since May 2008. The numbers are expected to continue the trend through the summer, the center reported.

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evanksaid

I wonder how the "Democrat tea partiers" are liking the candidates. LOL

August 11 2010 at 3:34 PM Report abuse +1 rate up rate down Reply
ivyteainn

Donations to political campaigns is not free speech, its called "buying influence". Until this ends and there are limits on campaign spending, the country will remain a corrupt state ruled by the corporations.

August 11 2010 at 2:57 PM Report abuse +1 rate up rate down Reply
toldlad

What on Earth do people expect from the Republicans that differs from their terrible record in the past. They have no new ideas...just that worn out old con about letting the super rich off their taxes and letting big business run wild can somehow be good for everyone else. Think about it, if this kind ever get their potty way we will go back to a medieval world with no education for most, mass poverty, pollution everywhere, fanatical religion, diseases and no access to health care for most. Who the hell wants a world like that, but these kind obviously do.
Ordinary people who vote for these psycho's vote against their own interests because the Republicans encourage narrow mindedness and all the silly snobby egotistical myths people like to have about themselves being somehow morally superior or whatever measure of material success they have somehow proves them superior and thus able look down their nose on all the other deadbeats and heathens in society they imagine are living off them and holding them back.
Its just arrogance because in the harsh world they think should be visited on the people they look down on, most of them would be victims of poverty too.
Civilisation provides security and opportunity for everyone and it is acheived collectively through proper investment in education, law and order and infrastructure that is made available to all. It builds a better world!
The Psychotic every man for himself and "Why should I" mentality pandered to by the Republicans would eventually undo civilisation. Ordinary people who vote Republican need to get over themselves or they just might find themselves victims in a cold dark medieval world of callous selfishness and inequity!

August 11 2010 at 12:24 PM Report abuse -1 rate up rate down Reply
KSMITHSPECTRUM

Reforms we need, what we don't need is Laws and backroom deals that Congress push on us. Just look at INDYMAC, what a sweetheart deal Obama gave to his friends. Now Americans are on the hook for Billions, yes I mean Billions. Another sign of insider deals. Thanks Congress, Barney Frank, Chris Dodd, and Barack Obama for you wastefullness.

August 11 2010 at 12:23 PM Report abuse +2 rate up rate down Reply
beemerboxer

What does one expect? Wall St got away with greed and mayhem for too long and now someone has the nerve to place reasonable controls on the way it conducts itself. They assume the Republicans will revert to type and remove restrictions. Thay could be quite wrong about that as Republicans would not legislate restrictions for fear of upsetting the rich and losing votes. When they finally gain power again, it will be simple to leave the restrictions in place and blame the Democrats for it! Its all about vote catching, folks!

August 11 2010 at 12:07 PM Report abuse -1 rate up rate down Reply
Richard

Would that be the same Wall Street and GOP that got us into this mess in 2008 and nearly collapsed the economy , the Obama administration has finally put some restraints on Wall Street which they don’t like. So it is back to the Wall Street GOP duo, hopefully we have learned something about this relationship.

August 11 2010 at 11:43 AM Report abuse -3 rate up rate down Reply
PeopleSmoks

jspe7, I don't have time to pick apart your entire rant, but a couple of things 0bama didn't tell you... The current "jobs" bill the lib Senate passed includes $11.9 BILLION in cuts to food stamps to the very people libs claim to protect. All done to buy votes from the teachers union before Nov. The 911 bill, HR847 (I believe) includes more than $30 BILLION in new unfunded spending that is completely unrelated to the first responders. You also need to read where it was the LIBERALS who cut medicare, all while accusing repubs of wanting to do it. Just as this story tells you that it has been the LIBERALS who were hand in hand with Wall St all this time, while they told you it was repubs. Wake up all ready.

August 11 2010 at 11:36 AM Report abuse +1 rate up rate down Reply
1 reply to PeopleSmoks's comment
goringm14

Enjoy your day everyone!!!

August 11 2010 at 11:32 AM Report abuse rate up rate down Reply
ThinkUp70

Our elected officials have been filling their pockets with your money for years, and years, and years, and years, and years.

It's time for "different" results . . . . a no-debtor mindset government that can prosper this country, for years, and years, and years, and years.

August 11 2010 at 11:29 AM Report abuse +1 rate up rate down Reply
pete

Wall Street donations shift to Republicans!

Wait!!!

Hasn't the media been telling us for years that Wall Street ALWAYS gives to Republicans?

If Wall Street is "shift"ing to Republicans, where are they shifting from??

The National Socialists?
The Facisists?
The Greens?
The Orange?
Where oh where????

OH! THE DEMOCRATS - WHO TELL US THEY ARE FOR THE WORKING MAN, NOT THE "WALL STREET FAT CATS" (their words, not mine).

So now what's the media going to say? They've been caught once again contradicting themselves.

Actually, they and their party of choice have both been caught out in the open with yet another bald faced lie.

What are YOU as a voter going to do about it????

August 11 2010 at 11:29 AM Report abuse +5 rate up rate down Reply
1 reply to pete's comment
Robin

Since 2009 they were giving to the dems read. Wall Street gambles they put there money where they think it is going to benefit them the most. Where do you think there money was prior to 2009....Yes the repubs. Wall Steet bail out that Bush said we had to have 2008. The only loyalty Wall Street has is to its bottom line.

August 11 2010 at 11:46 AM Report abuse rate up rate down Reply