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Politics : Liberalism: Do You Agree We've Had Enough of It? -- Ignore unavailable to you. Want to Upgrade?

To: tonto who wrote (87151)	7/7/2010 7:49:15 AM
From: lorne	1 Recommendation Respond to of 224748

Dem campaign committees lose Wall St. donors Fundraising free-fall leaves party with diminished resources to defend majorities Advertisement \| ad info .by T.W. Farnam and Paul Kane updated 7/6/2010 msnbc.msn.com A revolt among big donors on Wall Street is hurting fundraising for the Democrats' two congressional campaign committees, with contributions from the world's financial capital down 65 percent from two years ago. The 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 that House Democrats passed last week with almost no Republican support . The Senate expects to take up the measure this month. 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. Although the Democratic Senatorial Campaign Committee and the Democratic Congressional Campaign Committee have seen just a 16 percent drop in overall donations compared with this stage of the 2008 campaign, party leaders are concerned about the loss of big-dollar donors. The two congressional committees 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. Almost half of that decline in large-dollar fundraising can be attributed to New York, according to a Washington Post analysis of records filed with the Federal Election Commission. Donors from that area have given $8.7 million this year, compared with $23.9 million at this point in the 2008 cycle, with most of those contributions coming from big contributors in the financial sector. New York donors had given congressional Democrats almost twice as much money at this stage of the 2006 midterm campaigns, when Republicans ruled both chambers and held the White House. Reasons for the plummeting donations include concern about the economic recovery and the personalities of the campaign committee leaders, Democratic experts say. But the overwhelming factor is the rising anger among financial executives who think they have not been treated well based on their support of Democrats over the past four years, according to lawmakers, party strategists and fundraisers. Several of the party's biggest New York donors declined through spokesmen to be interviewed. Some Democrats say pushing Wall Street reform is more important than any slippage in political donations. .."Democrats worked hard to pass reform with tough oversight, accountability and regulation, and it's no secret the big banks were against it," said Deirdre Murphy, spokeswoman for the Democratic Senatorial Campaign Committee. "But we believe preventing another financial collapse is the responsible thing to do, and at the end of the day, we will have the resources we need to compete in our targeted states, as will our candidates." Major dent In reviewing the FEC records, The Post analyzed fundraising data for New York City and its suburbs in New Jersey, on Long Island and north of the city — a region that had become an outsized source of Democratic campaign cash. In the 2008 cycle, 28 percent of the two committees' itemized individual contributions came from the region. Manhattan alone accounted for 20 percent.

To: tonto who wrote (87151)	7/7/2010 9:34:06 AM
From: Sedohr Nod	1 Recommendation Read Replies (1) \| Respond to of 224748

Poor decision come and go....more come lately, but the growing punitive trend towards the producers in our economy is worst of all. No one expects BP to shirk from their responsibilities in the gulf, but hounding them into chapter 11 is not the answer. Learning from our mistakes is part of nature, but this flawed administration & congress acting like they have all the answers would be laughable if not for what's at stake. The image that keeps popping into my head is a Chicago bus accident with seating for 50 and 300 show up at the emergency room claiming injury......Chicago, Chicago & some more Chicago.