Democratic Party in the pocket of Wall Street

Democrats in Congress are proposing a $50 billion bail out pool for Wall Street. But as Treasury Secretary Timothy Geithner said last year, “A standing fund would create expectations that the government would step in to protect shareholders and creditors from losses.”

The $50 billion slush fund the Democrats propose would give large Wall Street firms "too big to fail" status. The reality in all this is that it's Democrats, not Republicans, who owe political allegiance to Wall Street, via Michael Barone in the Washington Examiner:

Republicans owe no political debt to the big Wall Street firms. In the 2008 campaign cycle, according to the Center for Responsive Politics' opensecrets.org Web site, Goldman Sachs personnel contributed $4.5 million to Democrats and just $1.5 million to Republicans.

Add in three other big Wall Street firms -- Morgan Stanley, JPMorgan Chase and Citigroup -- and the total take was $12.7 million to Democrats and $6.7 million to Republicans. The image of Wall Streeters as solid Republicans is as dead as J. P. Morgan himself.