Wall Street Spends Record Sum in Midterm Election (Betting on Republican Puppets This Time)
If you think anything is going to change for the better after Republicans take control of the Senate, you might have come down with a severe case of stupidity. Just like the Democrats before them, the new crop will answer to the same Wall Street masters.
Most of America isn’t interested in next week’s elections. Wall Street is an exception.
The $169 million from donors in the securities and investment industry is the most they’ve ever contributed in a midterm election, according to Center for Responsive Politics data. That makes them the most generous group for the first time in decades, with about two-thirds of the money going to Republicans in what the Washington-based nonprofit projects will be the country’s most expensive non-presidential election.
The industry’s biggest donor was Paul Singer’s hedge fund Elliott Management, with $12.1 million. Among top givers were employees from Ken Griffin’s Citadel LLC, Soros Fund Management LLC and Goldman Sachs Group Inc. Wall Street’s lead over retirees, lawyers and other groups grows wider when commercial banks including JPMorgan Chase & Co. are added.
After giving more to Democrats in 2006 and 2008, securities and investment donors switched allegiance in 2010, when President Barack Obama signed the Dodd-Frank Act’s financial regulations into law. Three Republicans, House Speaker John Boehner, Senate Minority Leader Mitch McConnell and Minority Whip John Cornyn, each received more than $1 million from the industry from the beginning of last year through Oct. 15, according to the center’s data.
Switching allegiances? Give me a fucking break, Bloomberg. Both parties are the same, Wall Street just shifts around to whichever figurehead has the momentum in any given election cycle in order to protect their criminal enterprises and get future bailouts.
Wolf’s peers are paying more attention than most Americans to the Nov. 4 elections that will determine control of the Senate. About two-thirds aren’t following midterm news closely or at all, a Pew Research Center survey conducted Oct. 2 through Oct. 5 found. Attention lags behind where it was four and eight years ago, overshadowed by interest in Ebola, Secret Service missteps and airstrikes against the Islamic State.
Of course, that’s because the American public knows that it doesn’t matter which Democrat of Republican crony they vote for. In contrast, Wall Street understands it still needs to sponsor the winning puppet.
When Pew asked voters which parties control the House and Senate, fewer than half answered both correctly.