Irked, Wall St. Hedges Its Bet on Democrats

[cal04]

http://www.nytimes.com/2010/02/08/us/politics/08lobby.html?hp

If the Democratic Party has a stronghold on Wall Street, it is JPMorgan Chase.

Its chief executive, Jamie Dimon, is a friend of President Obama’s from Chicago, a frequent White House guest and a big Democratic donor. Its vice chairman, William M. Daley, a former Clinton administration cabinet official and Obama transition adviser, comes from Chicago’s Democratic dynasty.

But this year Chase’s political action committee is sending the Democrats a pointed message. While it has contributed to some individual Democrats and state organizations, it has rebuffed solicitations from the national Democratic House and Senate campaign committees. Instead, it gave $30,000 to their Republican counterparts.

The shift reflects the hard political edge to the industry’s campaign to thwart Mr. Obama’s proposals for tighter financial regulations.

[frazzled]

1. Hah, let them give their $30K to the Republicans

They'll couldn't get more oppositional to banking and finance reform if you gave them $30 million. They'll just go out and blow it on steaks and cigars.

[RKP5637]

2. In 2012 we will elect the ruling corporation, not the president, under the

new supreme court decision on corporate person-hood for funding elections.