Show Me the Money

When Wall Street starts to hand the Democrats cash the tide may really be turning. This could be the most important story of the day. Read on from Bloomberg:

Democrats outdid Republicans last year in attracting political donations from investment banks, brokerages and fund managers for the first time since 1994, helped by support from hedge funds and companies such as Merrill Lynch & Co.
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``Wall Street wants change'' on issues such as the Iraq war and the budget deficit, said James Torrey, chairman of the Torrey Funds, which manages about $1 billion. ``I'm finding people who are registered Republicans who are saying to me, `what can I do to help?'''
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The Iraq war and ethics problems among congressional and executive-branch Republicans have helped drive President George W. Bush's public approval ratings to the lowest point of his presidency. That has spurred donations to Democrats, said Orin Kramer, general partner of Boston Provident Partners LP in New York and a longtime Democratic fund-raiser.

I'm not too thrilled with Wall Street or their cash, however the mere fact that the folks with the money are turning away from the GOP bodes well for the Democrats in November. The Bush administration's accountability moment may really be upon us.

Read more.

(Memeorandum gets the hat tip.)