ProPublica: Repubs Are Now Getting More Wall Street Campaign Cash than Dems

A Wall Street Journal analysis of 12 large financial services companies, including J.P. Morgan Chase & Co., Goldman Sachs Group Inc. shows that they have collectively made $1.4 million in political donations, with 52% going to Republicans so far this year. That’s a reversal from last year, according to the most recent round of fund-raising reports covering January, February and March.

Goldman Sachs, for instance, has historically been a strong donor to Democrats. “Since 1989, there has never been an election in which Goldman gave more to Republicans than Democrats,” said the Journal, citing the Center for Responsive Politics <7>. But in the first three months of this year, it gave 52 percent of its political action committee donations to Republicans. Morgan Stanley, by contrast, gave 80 percent of its political action committee donations to Republicans in the first quarter of this year.

Democrats have still taken in more donations from Wall Street in the 2009 and 2010 election cycle, according to the Journal, but in the last few months, that trend seems to be reversing. Congressional Republicans may not have much trust from voters <4>, but if donations are any indication, it seems they’re winning over Wall Street.