Wall Street Warns Democrats: Regulation = No Campaign Contributions

It seems that the arrogant, greedy, Wall Street fat cats who receive obscene bonuses in spite of being responsible for the financial crisis, don’t like being told they are arrogant, greedy, Wall Street fat cats who receive obscene bonuses in spite of being responsible for the financial crisis. And if it doesn’t stop, they’re going to take their bribes campaign contributions to the nearest Republican:

“…this year [JPMorgan] Chase’s political action committee is sending the Democrats a pointed message. While it has contributed to some individual Democrats and state organizations, it has rebuffed solicitations from the national Democratic House and Senate campaign committees. Instead, it gave $30,000 to their Republican counterparts.

Republicans are rushing to capitalize on what they call Wall Street’s “buyer’s remorse” with the Democrats. And industry executives and lobbyists are warning Democrats that if Mr. Obama keeps attacking Wall Street “fat cats,” they may fight back by withholding their cash.”

The shift reflects the hard political edge to the industry’s campaign to thwart Mr. Obama’s proposals for tighter financial regulations.

Just two years after Mr. Obama helped his party pull in record Wall Street contributions — $89 million from the securities and investment business, according to the nonpartisan Center for Responsive Politics — some of his biggest supporters, like [Chase CEO Jamie] Dimon, have become the industry’s chief lobbyists against his regulatory agenda.

Take a deep breath and calm down, banksters. Your corporate brothers in the insurance and pharmaceutical industries can confirm for you that the regulation rhetoric from the Democrats is just that, rhetoric. As William Shakespeare put it, “Sound and fury, signifying nothing.”