To be fair...
With all my blathering about Sen. McCain's ties to, and his taking money from, the financial industry...some further digging found that Sen. Obama takes the same money.
"McCain and Obama target, accept funds from Wall Street bankers"
From Atlanta Business Chronicle, September 16, 2008:
"Both presidential contenders -- Arizona Republican John McCain and Illinois Democrat Barack Obama -- heap blame on Wall Street and CEOs for the financial crisis resulting in the federal takeover of Fannie Mae and Freddie Mac, Lehman Brothers bankruptcy and the acquisitions of Merrill Lynch and Bear Stearns.
Both candidates have called for more rules and regulations on mortgage, credit and financial markets.
However, Obama and McCain have accepted a substantial amount of campaign money from Wall Street bankers, investment and securities firms and their executives during this election cycle. Obama has taken a total of $14 million, while McCain has taken in $10.2 million.
Investment firms have donated $9.9 million to Obama and $6.9 million to McCain this campaign thus far, according to the Center for Responsive Politics. Commercial banks have given Obama $2.1 million and McCain $1.9 million. Private equity firms and hedge funds have given Obama $2 million and McCain $1.4 million, according to CFRP.
Lehman Brothers, Goldman Sachs, JP Morgan Chase & Co., UBS and heavyweight law firm DLA Piper are among Obama's top contributors. JP Morgan acquired Bear Stearns with the federal government taking on as much as $30 billion Bear assets as part of the deal. McCain's top donor sources include Merrill Lynch, Goldman Sachs, Citigroup and Blank Rome and Greenberg Traurig LLP law firms.
CFRP compiles the contributions numbers based on donations by company executives, employees and political action committees.[..]"
CFRP is a non-partisan, non-profit research group based in Washington, DC that tracks money in politics, and the effect of money on elections and public policy.
Their website:
http://www.opensecrets.org/about/index.php
http://www.opensecrets.org/about/index.php
It's just wrong for Wall Street bankers, investment and securities firms and their executives to donate substantial amounts of money to politicians or their parties. We need to find a cleaner way of funding the democratic process.
<sigh> Well, at least Obama doesn't have people working for his campaign who are lobbyists representing Wall Street firms and investments banks, like McCain's most influential advisers are.
