Friday, March 30, 2012

How Unsurprising

So, it looks like Mitt Romney is going to be the Republican nominee for president this November. He's gotten endorsements from the Old Guard (George H.W. Bush) and the New Guard (Marco Rubio). He's also raking in the money from a totally expected source: Wall Street.

Let there be no doubt where Wall Street's political loyalties lie: Of all the money the securities and investment industry has poured into the 2012 presidential contest so far -- to the candidates and the super PACs behind them -- an unambiguous 92 percent has gone to the GOP, according to a new Center for Responsive Politics analysis.

And in so doing, the securities and investment industry is betting hard on the candidacy of one of its own: Mitt Romney.

Between his campaign committee and a monster super PAC supporting his candidacy, Romney has benefited from about 72% percent of the near $33 million Wall Street has contributed through February.
[Emphasis added]

Bundlers and individual donors alike have been throwing every penny they can in Romney's direction, and when they get maxed out, they can rely on Citizens United to allow them to throw a whole bunch more.

Wall Street seems to have found an even more welcoming receptacle for its largesse in Restore Our Future, a super PAC founded by a manager of Romney's 2008 presidential campaign, which is spending millions in an auxiliary effort to propel Romney to the Republican presidential nomination and eventually into the White House.

Wealthy executives and corporations in securities and investment have contributed about $16.5 million to Restore Our Future -- more than twice the amount they have sent to his campaign. Such donors are taking advantage of a new political landscape that was reshaped by recent federal court decisions, such as the 2010 Supreme Court-decided Citizens United vs. Federal Election Commission, which allows more money from more sources to fund hard-hitting political advertisements.
[Emphasis added]

President Obama: are you paying attention?

All that love you showered on the banksters doesn't seem to be reciprocated. I hope you aren't too surprised. I know I'm not, and I'm just a dirty hippy.

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