Senators opposed to Wall Street reform have taken more campaign cash
As the Senate financial reform bill moves front and center this week, it looks like all 41 GOP senators are still united in their opposition to it. Is it just a coincidence that those senators have also benefited most from campaign contributions from Wall Street interests? A joint analysis by Public Citizen, Common Cause and Public Campaign found that the Republican senators have received an average of 25 percent more in contributions from Wall Street firms. From the news release:
All 41 of the Senate’s Republicans have received, on average, $2,116,945 each from the financial, insurance and real estate sector over the past six years, according to the groups’ analysis of data from the nonpartisan Center for Responsive Politics (www.opensecrets.org). The other 57 Democrats and two Independents have received $1,688,068, on average, from these interests-a difference of more than $425,000 per Senator.
David Drayen at FireDogLake has more on why a GOP filibuster might play into the hands of Democrats:
You get the impression that Democrats would be perfectly pleased with a filibuster today from the Republicans on a financial reform bill. They have no problem creating the picture of a Republican Party in bed with Wall Street and protecting the banks. Most of that is even true.