Wall Street rolls out welcome mat for Republicans

NEW YORK -- Despite the talk about protesters overwhelming the Republican National Convention in New York City this summer, one sector of the city -- Wall Street and its investment banks -- is rolling out the red carpet, showering the conventioneers with money for parties and other events to make the Republicans feel right at home. Some of the main parties will be for Republican members of Congress with oversight over investment banks and related businesses.

One of the most celebrated guests will be Rep. Michael Oxley, R-Ohio, chairman of the House Committee on Financial Services, which oversees Wall Street, banks and the insurance industry. Oxley will be toasted at a dinner party in the Rainbow Room, at a loft on the West Side of Manhattan and at a financial services brunch, according to industry insiders. But the partying does not stop there.

J.P. Morgan Chase & Co. is planning a reception to honor delegates from the roughly 20 states where it does most of its business; Goldman Sachs has discussed being the host of a party to honor Rep. Thomas Reynolds, chairman of the National Republican Congressional Committee; Credit Suisse First Boston plans a reception to honor Sen. Mike Enzi, R-Wyo., who serves on the Banking Committee.

Though the corporation-financed parties are legal, and commonplace at political conventions, they take on added significance this year because of new laws that prohibit corporations from giving large donations, known as soft money, to national political parties and also forbid federal officials to raise such contributions, government watchdog groups said.


http://www.chron.com/cs/CDA/ssistory.mpl/politics/2585320

Republicans should be angry - Bush has a new "red phone" system to teleconference with all the CEOs of the major corporations - but the State Governors and legislatures can't get their phone calls returned by the Feds. How much longer can this go on?

(Spoken with sarcasm)

It's pure partisan bull-crap. The ink that fills their pages is blatantly geared toward their corporate masters.

I wish there was an alternative to Wall Street in New York for our investments. I wish we had a choice in the matter. Those people simply churn our accounts or find a million other ways to suck our hard earned money. In the end, we lose and they have million dollar houses and well-financed life styles with an arrogant snob attitude to add insult to the injury.

I'm thinking about it - 6-8% it seems - a co-op type of thing. Doing VERY well - located in Wisconisn - ???

Cheers,

baldearg

I would only support the commercial value of hemp, not its drug uses. But I think it would be well received if the hemp industry weren't run by pro-decriminalization supporters. There are so many other beneficial uses for hemp, and it's the fear that it will start a whole new drug trade that stops everything in its tracks.

But, it would be nice if we can create a little Wall Street away from Wall Street which would promise to only work on an ethical level, and create laws that give stockholders power over the boards if it does not.

We need our own "Wall Street" - one that isn't corrupt and invests the money into real ideas with real possibilities - like alternative energy that hemp can supply!

I've checked into some of these "socially responsible" companies and I'm not very impressed. It is hard to avoid the corporate whores no matter where you look. :shrug:

would be first and foremost amongst the protestors. What a stupid article!