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Wall Street Doing Its Best to Buy Schumer

Hands NY Dem $1.65M as vote looms on new financial regulations

By Kevin Spak,  Newser Staff

Posted Sep 28, 2009 10:07 AM CDT
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(Newser) – With a vote looming on Barack Obama’s plan to revamp financial regulations, Wall Street has shoveled $10.6 million into Senate campaign chests this year. Most of that money, $7.7 million, has gone to Democrats, and more than 15% has gone to one man: Chuck Schumer. Schumer’s $1.65 million take is nearly twice what anyone else got; fellow New Yorker Kirsten Gillibrand took second with $866,000.

Richard Shelby, the top Republican on the Banking Committee, topped the GOP list with just $313,000. Republicans are traditionally seen as, in Politico’s words, “bagmen for Wall Street,” but the disparity reflects a new political reality. “Democrats are holding the reins in Washington now,” said one financial lobbyist. “It only makes sense that donors want to put their money into the coffers of those who are driving the agenda.”

Charles Schumer, D-NY, gestures while delivering his opening remarks on Capitol Hill, Sept. 22, 2009, during the markup of health care legislation.
Charles Schumer, D-NY, gestures while delivering his opening remarks on Capitol Hill, Sept. 22, 2009, during the markup of health care legislation.   (AP Photo/Susan Walsh)
Charles Schumer questions Supreme Court nominee Sonia Sotomayor in this file photo.
Charles Schumer questions Supreme Court nominee Sonia Sotomayor in this file photo.   (AP Photo/Charles Dharapak)
Senate Finance Committee members, from left, John Kerry, Charles Schumer, Max Baucus, and Sen. Kent Conrad, arrive on Capitol Hill, Sept. 25, 2009.
Senate Finance Committee members, from left, John Kerry, Charles Schumer, Max Baucus, and Sen. Kent Conrad, arrive on Capitol Hill, Sept. 25, 2009.   (AP Photo/Susan Walsh)
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COMMENTS
Showing 3 of 28 comments
DontLikeYou___
Sep 28, 2009 9:15 AM CDT
I agree.
wwwonderer
Sep 28, 2009 9:06 AM CDT
Well said. A MUST SEE: The Corporation - http://www.youtube.com/watch?v... ... Fondue, that is one thing I LOVE when those like webqueen talk about welfare. In the mind of those people, the ONLY 'people' to abuse welfare are black women sitting at home with 45 kids. No one speaks of the corporate welfare that is TRULY destroying our country. It helps for GOP nuts to view blacks and other minorities as the cause for ALL THEIR troubles, and the troubles of THEIR country. Hey anyone know why Joni DOESN'T like Chachi? It's Obama's fault. Why did oil hit $147/barrel in 2008? It's Obama's fault. Housing market collapse? Obama's fault. Who shot JR? Guess who's responsible. It's almost as idiotic as using public mass transit on your way to protest socialism.
JonmarkP
Sep 28, 2009 8:35 AM CDT
And the incentive for the donor to keep donating would be what...good citizenship? lol

 
Wall Street • Charles Schumer • Richard Shelby • bank regulation • Kirsten Gillibrand • financial reform

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