Friday, March 27, 2015

The Democratic Party has (almost) lost Wall Street « Hot Air

The Democratic Party has (almost) lost Wall Street « Hot Air: "One of the worst kept secrets of President Barack Obama’ first term in office is how closely aligned that administration and the members of the Democratic Party were with the interests of the financial sector, despite party members’ repeated insistence that they wanted nothing more than to curb Wall Street’s excesses. The well-heeled bankers at Goldman Sachs had little to fear from Democrats who professed their appreciation for the promise of the Occupy Wall Street movement while the institution’s members were filling Democratic pockets with campaign contributions. The financial community could rest easy knowing that Democrats were aware of who truly buttered their bread.

But the Democratic Party has begun to match its anti-Wall Street rhetoric with action since figures like Sen. Elizabeth Warren (D-MA) have risen to power. According to a Reuters exclusive, the trading sector of the economy has had it with the rhetoric of the Warren Wing of the Democratic Party, and they’re ready to do something about it."

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