Schumer's Wall Street Donors Look for Revenge

Which might explain Harold Ford's run

By John Johnson,  Newser Staff

Posted Feb 9, 2010 5:57 PM CST

(Newser) – Chuck Schumer is making enemies in high places among "his wealthiest and most powerful constituents," writes Chris Smith. These Wall Street honchos have long poured money into Schumer's campaign coffers, but now they think he's not doing enough to protect them from regulation attempts. “Chuck says, ‘I’ve been there to help you,’ ” says one lobbyist. “Well, that’s when we were playing stickball. Now we’re in a cage match and he’s hiding under his desk.”

Schumer's critics—who accuse him of adopting a populist streak so he can be the next majority leader—have no hope of unseating him, but they can take revenge in other ways, writes Smith in New York magazine. That includes getting behind Harold Ford Jr. as he tries to oust Kirsten Gillibrand—"a virtual ward of Schumer's"—from her Senate seat. "A lot of what’s fueling the Ford thing is Chuck’s donors, who are furious at him,” says a political consultant. “They feel he’s walked away from them."

Sen. Charles Schumer, D-N.Y.
Sen. Charles Schumer, D-N.Y.   (AP Photo/Susan Walsh, File)
Democrat Harold Ford Jr.
Democrat Harold Ford Jr.   (AP Photo/Stephen Chernin, File)
Sen. Charles Schumer, D-N.Y.
Sen. Charles Schumer, D-N.Y.   (AP Photo/Haraz N. Ghanbari)
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A sizable number of New York business leaders are complaining that they aren’t getting their money’s worth (from Schumer), especially as populist anger at Wall Street has soared. - Chris Smith, New York

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