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Krugman writes: "Anyone who tells you that reform was meaningless and that there's no difference between the parties should follow the money, which thinks that there is a big difference indeed."

Wall Street. (photo: Getty)
Wall Street. (photo: Getty)


Wall Street Now Hates Democrats

By Paul Krugman, The New York Times

31 July 15

 

ver at Vox, Jonathan Allen notes that Hillary Clinton, sometimes derided on the left as doing Wall Street’s bidding, is actually getting a lot less Wall Street money than people think. Allen notes that during her husband’s administration Clinton was known for her relative antipathy toward financial types, which may be part of the story. But you should also put this in the context of finance’s hard turn against Democrats in general. In 2004, facing an election whose outcome was uncertain, finance and insurance split its donations almost equally between the parties; in 2012 it gave well over twice as much to Republicans as to Democrats.

Contributions by financial industryCredit Opensecrets.Org
Contributions by financial industryCredit Opensecrets.Org

The reason is, of course, financial reform. Anyone who tells you that reform was meaningless and that there’s no difference between the parties should follow the money, which thinks that there is a big difference indeed.


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