The NRSC wants to remind everyone during the debate on the financial regulation overhaul just which party got the big bucks from Wall Street in the last election. Today, they released a pretty effective web ad showing the numbers involved — which are eye-popping, without question. However, one has to wonder whether the GOP wants to keep treading down this road:
Wall Street donated tons of money to Democrats in 2008 for one reason: they were winning. While they hedged their bets by contributing substantial amounts to Republicans, Democrats won the Wall Street Sweepstakes not because of some grand devotion to their policies, but in order to maintain some leverage after the election. That’s not exactly a surprise, although after the AIG witch hunt and the class-warfare shrieks in the early days of this Congress, even some Wall Street execs began questioning that strategy.
That brings up a rather delicate question. If Wall Street execs suddenly decide that Republicans have the momentum and want to climb aboard the bandwagon, will this Republican version of class warfare turn them off? Does the GOP mean to establish that accepting Wall Street money signifies a lack of credibility on economics — which would certainly be a sea change from their position in 2002 and 2004? A little of this kind of attack goes a long way.