You already know that Wall Street favour the GOP this year.
A new report from POLITICO adds some numbers and anecdotes to this trend. Apparently the American Financial Services Association is targeting an 80-20 split between GOP and Democratic.
Part of this is obviously due to unhappiness over what’s happening in the Congress and anger at Obama, though in the end, Wall Street wants to bet on winners, and so the mere fact that the GOP will win big is in itself a reason to donate.
But ignore this current election and look ahead, and you can see the contours of what we see as an awkward situation. Wall Street loves the GOP, but the GOP’s new base — The Tea Party — hates bailouts and Wall Street.
Something’s gotta give.