Propublica.org, a nonprofit news organization, reported today that for the first time since 2004, Wall Street has donated more to Republican campaigns than Democratic ones. Can much more be said for the incredible backlash against proposed regulation? This comes only a few short weeks after top Republican congresspeople met with Wall Street CEOs in New York City. Mitch McConnell, the Senate minority leader from Kentucky, was the "headliner."
In other related news, Republicans in the Senate voted to block debate of the financial regulation reform bill for two consecutive days on Monday and Tuesday.
All hope might not be lost, however, for proponents of reform. GOP Senators have begun to realize that the American people really do despise Wall Street, and have agreed to end their filibuster.
Great news, just hitting the presses. Sadly, this blog will cease today. We here at Bank Reg 101 hope you've enjoyed our reporting. But in the future, we urge you to Regulate, then Make Bank.
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