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Defying the Odds

Defying the Odds
New book about the 2016 election.

Monday, October 8, 2018

Wall Street Money Goes Blue

In Defying the Odds, we discuss congressional elections as well as the presidential race.  Campaign finance is a big part of the story.

Shane Goldmacher at NYT:
In interviews with two dozen Wall Street executives, fund-raisers, donors and those who raise money from them, Democrats described an extraordinary level of investment and excitement from the finance sector. And many Republicans fretted about a softening of donor enthusiasm — Mr. Short warned of “complacency” — in what has long been one of the party’s most critical and reliable sources of campaign cash.
The numbers are stark.
Four years ago, in the last congressional midterm, Republican incumbents and candidates outraised Democratic counterparts by more than $50 million in direct donations from the broader finance, insurance and real estate industries, according to the Center for Responsive Politics. And in 2016 and 2012, Republicans outraised Democrats from that group by nearly $50 million and $100 million respectively, the data show. This year, Democrats held a narrow $5 million advantage through the middle of the year.