We already knew this. It’s no secret. Obama and Wall Street have had a very public break-up. Of Tiger/Elin Woods proportions. In fact, anyone who has friends who work in finance–like me–have heard the rants firsthand. Wall Street to Obama is the equivalent to a scorned woman looking to take her ex-husband for all he’s worth. They feel burned by the President and it’s gotten pretty ugly. Losing your biggest (and wealthiest) supporters can only mean one thing: they go to the other party. The numbers are in and there has been heavy casualties:
Less than two years ago, Democrats received 70 percent of the donations from Wall Street; since June, when the financial regulation bill was nearing passage, Republicans were receiving 68 percent of the donations, according to an analysis by the Center for Responsive Politics, a nonpartisan research group.
With this huge loss of support, Republicans have no doubt gained momentum. And that unsettling, all-too-familiar-feeling-of-uncertainty is looming again. Which means one thing — we have A LOT of work to do!
There’s more than one way to have an impact on elections this season — and donating tens of thousands of dollars is only one way to do it. Check out our list of 2010 Campaigns for more info and get plugged in.