The Assassinated Press

Democratic Campaign Committees Losing Big Wall Street Bribes.
Wall Street Cleaning Up Politics By Keeping Their Dirty Money Out of It.
"They'll Be Back," Rahm Emanuel Swears.
If you expect something in return for the money, that's a bribe, right? If you don't continue payments when you don't get what you want, that simply confirms it was a bribe.

By P.T. FARNUM & ABEL KANE
Assassinated Prerss Staff Writers
July 6, 2010

A revolt among corporate bribemeisters on Wall Street is hurting slush funds for the Democrats' two congressional campaign committees, with contributions from the world's financial capital down 65 percent from two years ago.

The drop in bribes comes from many of the same bankers, hedge fund executives and financial services chief executives who are most upset about the financial regulatory reform bill that House Democrats passed last week designed to give simply the appearance of stemming greed. The bill passed with virtually no Republican support. The Senate expects to take up the measure this month.

Goldman Sachs CEO, Lloyd Blankfein explained: “We want to be seen as mean, greedy fucks. We want to put the ‘small people’ on notice. Fuck, we got the fuckin’ Canadians to arrest 1000 peaceful protesters. We got a guy sentenced to 9 years in prison for hanging a fuckin’ banner. We suggest the ‘small people’ step back and reflect on just how much we can fuck them up and let us go on our merry way. And be happy with their new wages of 50 cents an hour, take it or fucking leave it.”

This bribe tallying free fall from the New York area has left Democrats with diminished resources to defend their House and Senate majorities in November's midterm elections because it’s not about democracy its fuckin’ about money, baby. Although the Democratic Senatorial Campaign Committee and the Democratic Congressional Campaign Committee have seen just a 16 percent drop in overall donations compared with this stage of the 2008 campaign, party leaders are concerned about the loss of big-dollar bribes. The two congressional committees have received $49.5 million in bribes this election cycle from people giving bribes of $1,000 or more at a time, compared with $81.3 million at this point in the last election.

Almost half of that decline in large-dollar bribery can be attributed to New York, according to a Washington Post analysis of records filed with the Federal Election Commission. Donors from that area have given $8.7 million this year, compared with $23.9 million at this point in the 2008 cycle, with most of those contributions coming from big backsheesh factories in the financial sector. New York donors had bribed congressional Democrats with almost twice as much money at this stage of the 2006 midterm campaigns, when Republicans ruled both chambers and held the White House.

Reasons for the plummeting bribes include concern about the mathematically objective immunity given bribes even after economic game theory and quants proved mathematics to be subject to moral bankruptcy as any fucking thing else and the pathological need to punish and kill which charecterizes today’s average CEO. But the overwhelming factor in Wall Street bribe reduction to Democrats is the rising anger among financial executives who think they have not been treated well based on their bribes of Democrats over the past four years, according to lawmakers, party strategists and fundraisers. Several of the party's biggest New York bribe pubahs declined through spokesmen to be interviewed. Some Democrats say pushing Wall Street reform is more important than any slippage in bribes.

"Democrats worked hard to pass reform with tough oversight, accountability and regulation, and it's no secret the big banks were against it," said Deirdre Murphy, spokeswoman for the Democratic Senatorial Campaign Committee. "So we didn’t do it. But we believe preventing another financial collapse is the responsible thing to do, but at the end of the day, it would be political suicide. But still these corporate four years olds are threatening to take their ball home.”

Major dent in bribes

In reviewing the FEC records, The Post analyzed bribery data for New York City and its suburbs in New Jersey, on Long Island and north of the city -- a region that had become an outsized source of Democratic campaign cash. In the 2008 cycle, 28 percent of the two committees' itemized bribes came from the region. Manhattan alone accounted for 20 percent.

In this election cycle, the percentage of bribes raised in New York is less than 10 percent of the total.

More than 600 regular bribery doyens from the New York area -- whose four- and five-figure checks added up to $10 million for the DSCC and DCCC in 2006 and 2008 -- have so far abandoned their effort to bribe Democratic majorities.

Take Jamie Dimon, the head of J.P. Morgan Chase, who is known for his close moneyed relationship with President Obama.

In 2006 and 2008, he gave bribes of $65,000 to the Democratic committees. This election cycle, he has not sent one bribe at all to the DSCC or DCCC. At the end of March, however, he gave a bribe of $2,000 to the campaign of Rep. Mark Kirk (R-Ill.), who is seeking to claim Obama's former Senate seat. A spokeswoman for Dimon noted that he has given bribes to individual Democratic candidates, just not to the campaign committees. Other prominent Democratic bribe barons who have not given to the Democrats this year include Leon Black, a co-founder of the $53 billion New York-based Apollo Global Management a private-equity firm, and his wife, Debra Black. The couple gave bribes of more than $200,000 to Democratic congressional committees over the previous two election cycles but have not given one bribe this year, according to the latest disclosure documents. A spokesman for Apollo declined to comment.

Lloyd Blankfein, chief executive and chairman of Goldman Sachs, has not given one bribe to the Democrats, either, after giving $50,000 in bribes the previous two cycles. A company spokesman declined to comment. The problem of a lack of bribes has been particularly acute for Senate Democrats, whose previous DSCC chairman, Sen. Charles E. Schumer (N.Y.), had a strong connect to Wall Street. Schumer was succeeded last year by Sen. Robert Menendez (N.J.), whose relationship with the financial sector is not as tight. The DSCC has seen a 69 percent decrease in bribes from the New York area. But, many party strategists say, the drop in bribes is so steep that its root cause is deeper than the personalities of the committee stewards.

Many Democrats said they first noticed something resembling adolescent pique and bribe retrenchment from Wall Street in early 2009, when Obama and congressional leaders began denouncing what they considered excesses that caused the 2008 financial collapse.

GOP opportunity for more bribes!

Republicans, aware of Wall Street's pique with their former Democratic shills, have tried to reap the benefits of more bribery, to mixed results. Senate Minority Leader Mitch McConnell (Ky.) and Sen. John Cornyn (Tex.), chairman of the National Republican Senatorial Committee, made a much-touted trip to New York in April, and House Minority Leader John A. Boehner (Ohio) lunched with Dimon in late January.

The two Republican committees that are focused on congressional races have received $2.7 million in bribes from the New York area, slightly more than at this point in 2008 but less than the $4 million in bribes they raised at this point in the 2004 cycle when the party still controlled Congress

. The two Democratic committees also have more bribe money on hand than their rivals for this fall's elections -- $46.2 million compared with $30.2 million.

"We're aiming for parity in bribes," said Rep. Pete Sessions (Tex.), chairman of the National Republican Congressional Committee.

He has a long way to go. Sessions had $12 million in bribes in the bank at the end of May, while the DCCC had $28.6 million. But Sessions finds himself in far better shape vis a vis bribe money than his predecessor, who trailed Democrats by 8 to 1 in ready cash for the five-month sprint to finish the 2008 campaign season. Democrats have lost financial bribery ground in areas other than New York. As the second-largest source of cash for the party, the San Francisco region's big bribe burghers have cut support to the DSCC and DCCC by 34 percent, with bribes in the legal and financial sectors dropping the most.

Some Democrats said there is an overall enthusiasm gap among large bribe purveyors, who were energized to help claim the congressional majorities in 2006 and to expand them in 2008 while electing Obama. But that excitement has waned, especially among wealthy liberal bribers who are satisfied that the Obama agenda often sells out to conservative Democrats on Capitol Hill as they intended.

"There's something fundamental going on, which is a complete disaffection with the committees," said one New York bribe baron in the finance industry who raised about $3 million in bribes for Democrats in the 2008 cycle. The bag man, who spoke on the condition of anonymity to discuss the Democrats freely, said progressive bribers were reluctant to give the party committees money out of belief that they often back the more conservative candidates. "Progressives have been throwing up their arms," the fundraiser said. "There's a tremendous amount of disaffection with the administration and how the caucuses have performed -- or not performed. And those progressives now wish they had some bribe money like Wall Street."


home