GOPers and banksters

No, what follows isn’t from  a DNC or Move-On press release.  It’s from a news story in the Wall Street Journal:

Republicans are stepping up their campaign to win donations from Wall Street, trying to capitalize on an increasing sense of regret among executives at big financial institutions for backing Democrats in 2008.

In discussions with Wall Street executives, Republicans are striving to make the case that they are banks’ best hope of preventing President Barack Obama and congressional Democrats from cracking down on Wall Street.

GOP strategists hope to benefit from the reaction to the White House’s populist rhetoric and proposals, which range from sharp critiques of bonuses to a tax on big Wall Street banks, caps on executive pay and curbs on business practices deemed too risky.

[snip]

Last week, House Minority Leader John Boehner of Ohio made a pitch to Democratic contributor James Dimon, the chairman and chief executive of J.P. Morgan, over drinks at a Capitol Hill restaurant, according to people familiar with the matter.

Mr. Boehner told Mr. Dimon congressional Republicans had stood up to Mr. Obama’s efforts to curb pay and impose new regulations.

The attack ads sorta write themselves, don’t they?

Author: Mark Kleiman

Professor of Public Policy at the NYU Marron Institute for Urban Management and editor of the Journal of Drug Policy Analysis. Teaches about the methods of policy analysis about drug abuse control and crime control policy, working out the implications of two principles: that swift and certain sanctions don't have to be severe to be effective, and that well-designed threats usually don't have to be carried out. Books: Drugs and Drug Policy: What Everyone Needs to Know (with Jonathan Caulkins and Angela Hawken) When Brute Force Fails: How to Have Less Crime and Less Punishment (Princeton, 2009; named one of the "books of the year" by The Economist Against Excess: Drug Policy for Results (Basic, 1993) Marijuana: Costs of Abuse, Costs of Control (Greenwood, 1989) UCLA Homepage Curriculum Vitae Contact: Markarkleiman-at-gmail.com

4 thoughts on “GOPers and banksters”

  1. The attack ads won't write themselves, they'll be written by Republican operatives and they will accuse Democrats of doing exactly what the Republicans are actually doing. The Democrats, meanwhile, will expend not an ounce of energy fighting Republicans lies because they'll be too busy working to win back the banksters affections (and that's the charitable explanation).

    This script was written a long time ago, and it didn't write itself.

  2. eb has this covered, but… assuming they could write themselves, they won't be written by Dems, I regret to say. Have you forgotten this is the party of Chuck Schumer? He of the hedge fund profits being taxes as capital gains instead of income? I thought that issue was an easy one for the Dems – unfortunately Chuck felt so too, just in the opposite direction of what I had in mind.

  3. Mark: "The attack ads sorta write themselves, don’t they?"

    In case you haven't been paying attention for the past year, the problem is that they don't write themselves; they have to be written and delivered. And Obama and the DLC don't feel like doing that.

    What really pisses me off is that I predicted this. The GOP will always offer Wall St a better deal than the Democratic Party. And right now, castrating Obama would guarantee that reform was dead, probably for the next decade (i.e., until Wall St does Crash II).

    Does Obama understand that he's dealing with people who'll gladly f*ck him unless he's got proven retaliatory power?

  4. It's worth pointing out that Wall Street has been smart with its campaign contributions. They've mostly gone to Democrats, rather than Republicans. Why waste money on a freak, that can be better spent on a whore? Wall Street doesn't need to give money to the Republicans–they'll vote for the banksters out of class solidarity alone. It is the Democrats who need bribing.

    Not to mention that Wall Street finds the culture wars reprehensible, even though they know that Talibanism will never constrain their daughters. Give them half a point for a very weak social conscience.

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