Is Wall Street leaning more Democratic?

[eallen]

There's an interesting http://business.bostonherald.com/businessNews/view.bg?articleid=151851&format=text">article in today's Boston Herald, giving the good news that the political donations from people who work on Wall Street are leaning more Democratic, for the first time since the early 90s. Here are a couple of excerpts:

Something unusual is going on at Fidelity this election year.

Employees at the conservative firm are on track to double their donations to the Democratic Party.

And they’re not alone in the investment world.

..snip..

Yes, the Bush administration pushed through tax cuts, including one on dividends, that should have had Wall Street cheering. But the Republicans running Washington didn’t cap federal spending to match. The result: mind-boggling deficits. Those do not go down well with old-fashioned Republicans. Throw in the administration’s flirtation with protectionism via steel tariffs, and red-blooded crusading on social issues, and you have a significant political shift.

Oh yes, and despite what Michael Moore says, Wall Street hates war. Always has. For every company that makes a profit, 10 lose business.

..snip..

The one thing the author doesn't mention, that plays a prominent role in this shift, is the GOP's attack on science. Wall Street respects science and technology. There's no room for creationism in biotech. The business world wants good public schools. The more the GOP becomes the party of Jerry Falwell and Pat Robertson, the less it will get the respect of Wall Streeters.

[marmar]

1. And anyone on Wall Street with a brain and a shred of conscience...

has to realize that Bush's economic policies are destroying this country.

[Atman]

3. Actually, many of them have benefitted from the pillaging...

Now they want sanity back because the Democrats are historically always better stewards of the economy. The charts and graphs prove it. So now that BushCo helped them drain the coffers, they want the "grownups" in charge again to make sure they can live long enough to enjoy their pilferage.

[hippiechick]

2. I don't think they're leaning Dem, so much as ...

..they see the disaster that the Bush Administration has been on the national economy, which ultimately will affect their own interests.

They've had 5 years to max profits, now they're realizing that infrastructure is crumbling, industry is cutting back, jobs are being lost which means people are shopping & investing only as necessary, which means that the recession will be at Wall Street's doorstep soon enough is something isn't done to reverse the catastrophic GOP mismanagement.

They're not stupid. It takes employed workers with disposable income to make an economy grow.