CEOs, Bush Rangers Rebuff Republicans on War, Widening Deficit

[swag]

Source: Bloomberg

Sept. 21 (Bloomberg) -- Dozens of corporate executives who backed President George W. Bush for re-election in 2004, including some of his top fund-raisers, are now helping Democrats running for president.

John Mack, chief executive officer of Morgan Stanley, Rupert Murdoch, chairman of News Corp., and Terry Semel, chairman of Yahoo! Inc., are among some 60 executives writing checks to Democrats such as Senators Hillary Clinton of New York and Barack Obama of Illinois, a review of U.S. Federal Election Commission records shows.

While the vast majority of business leaders still back Republicans for 2008, the stature of some of those donating to Democrats suggests that support may be eroding, seven years into the Bush presidency. Some executives expressed concern over Republican positions on issues ranging from the war in Iraq and stem-cell research to global warming and the fiscal deficit.

The shift in political-spending patterns is ``very unusual,'' says Fred Wertheimer, president of Democracy 21, a Washington-based group that advocates campaign-finance reform.



Read more: http://www.bloomberg.com/apps/news?pid=20601070&sid=afaR_KaZJEds&refer=home

[acmavm]

1. The repubic party may have (hopefully) been the instrument of

its own extinction.

[budibudinski]

2. hmmm? Ok, what gives here.

Why now, do they turn from the promise of fortune by Bush?

smells like bad imported-from-China fish.
hmmm

[maseman]

3. I don't think this is as much CEO's issues with the Repukes

as it is they believe the next President will be a Democrat. Of course they want to be in good graces with Hillary, Obama, etc. if they get into the White House.

[ryanmuegge]

4. It's not like they didn't know these things were going to happen, or that they aren't benefitting.

Certainly they benefited from the deficits that they decry so much. These people are probably supporters of the war because the companies on which they serve as directors are profitting.

Any idiot knows when taxes are cut, even before the war of terror smoke-screen began, facing huge mandatory spending crises that deficits will ensue. I'm not economist, but I could tell you that.

Perhaps they banked on Bush actually getting rid of Social Security and Medicare to cut the budget deficits down. Obviously these people benefit enormously from the trade deficit, so that is something they do not hope to see reduced.

Maybe the corporate elite are attempting to get the Democrats even further into their pockets by donating money to them. The donors are betting that they can get the Democrats into their pockets as far into their pockets at the Republicans. They must be hedging their bets because they don't have any expectation of the Republicans winnning.

[Grandrose]

5. No honor among thieves....

They have gotten everything they wanted, it's now time to co-opt the Democrats!
They put the Democrats back in, clean up the mess, restore the treasury and start all over again!
Self serving for the rich is entitlement, do not be fooled! Our so called democracy needs a overhauling!
:think:

[TommyO]

6. Buyer's remorse, I love it!