Punch line: A revolt among big donors on Wall Street is hurting fundraising for the Democrats’ with contributions from the world’s financial capital down 65 percent from two years ago.
Only thing that surprises me is that the Dems have the nads to ask Wall Streeters for dough …
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Excerpted from Washington Post,Democratic campaign committees losing big Wall Street donors, July 6, 2010
The Democratic Senatorial Campaign Committee and the Democratic Congressional Campaign Committee have … raised $49.5 million this election cycle from people giving $1,000 or more at a time, compared with $81.3 million at this point in the last election. T
he drop in support comes from many of the same bankers, hedge fund executives and financial services chief executives who are most upset about the financial regulatory reform bill
Among the notables tossing shutouts at the Dems:
- Jamie Dimon, the head of J.P. Morgan Chase, donated $65,000 to the Democratic committees in 2006 and 2008, This election cycle, he has not contributed at all.
- Leon Black, a co-founder of the $53 billion New York-based Apollo Global Management a private-equity firm,gave more than $200,000 to Democratic congressional committees over the previous two election cycles but have not given this year.
- Lloyd Blankfein, chief executive and chairman of Goldman Sachs, has not donated to the Democrats, either, after giving $50,000 in the previous two cycles.
This fundraising free fall from the New York area has left Democrats with diminished resources to defend their House and Senate majorities in November’s midterm elections.
Full article:
http://www.washingtonpost.com/wp-dyn/content/article/2010/07/05/AR2010070502913.html?hpid=topnews
