April 25, 2006 /

More Good News For Dems

When the GOP starts losing the support of the money makers then they are in serious trouble. That is exactly what is happening now: — Democrats outdid Republicans last year in attracting political donations from investment banks, brokerages and fund managers for the first time since 1994, helped by support from hedge funds and companies […]

When the GOP starts losing the support of the money makers then they are in serious trouble. That is exactly what is happening now:

— Democrats outdid Republicans last year in attracting political donations from investment banks, brokerages and fund managers for the first time since 1994, helped by support from hedge funds and companies such as Merrill Lynch & Co.

Democrats got $13.6 million, or 52 percent of the financial industry’s $26.3 million in political donations in 2005, said the Center for Responsive Politics, a nonpartisan Washington group that researches the influence of money on elections and public policy. In the two years leading up to the 2004 presidential election, Republicans received 52 percent of the $91.6 million given by the industry.

“Wall Street wants change” on issues such as the Iraq war and the budget deficit, said James Torrey, chairman of the Torrey Funds, which manages about $1 billion. “I’m finding people who are registered Republicans who are saying to me, `what can I do to help?”’

The investors apparently don’t see the economy as robust as Bush makes it out to be. Since these are the big money men then that should send a sign to the rest of America that we need change. I can’t overstate how good of news this is for the Democrats. Things are lining up more and more like 1994.

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