Monday, April 24, 2006

Wall Street Favors Democrats

Bloomberg reports that “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.”

This is a sign that Wall Street wants change:

“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?’

Orin Kramer, general partner of Boston Provident Partners LP in New York notes that, “When the party with no power can raise more money than the party with all the power, it means people are pretty disturbed about the country’s condition.”


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