Wall Street Rescue & Wall Street’s Donations

Sep 30, 2008 2:40pm

The New York Times has an interesting look at yesterday’s House vote.  According to a tracking group, lawmakers who voted FOR the rescue plan receive MORE money from Wall Street than those who voted NO.  This is from their blog "Deal Book":

"The Center for Responsive Politics, a Washington nonprofit group that studies money and politics, reports that on average, lawmakers who voted in favor of the bailout bill have received 51 percent more in campaign contributions from sources in the finance, insurance and real estate industries — or FIRE industries, for short — over their congressional careers than those who opposed the emergency legislation.

The legislation is of vital interest to Wall Street firms and banks, many of which would like to use the program to offload noxious mortgage-related assets."

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