Politics | Wall Street Wall Street Cools to Dems Despite Bailout Financial regulation tough talk hurting donations By Kevin Spak Posted Oct 20, 2009 6:10 AM CDT Copied Mariah Dahl of Ithaca, N.Y., a student at the University at Albany, protests against a bail out of Wall Street firms during a rally in Albany, N.Y., Wednesday, Oct. 1, 2008. (AP Photo/Mike Groll) Some gratitude: Wall Street’s top firms will largely sit out Barack Obama’s lavish Democratic Party fundraiser in New York tonight, with Goldman Sachs, JPMorgan and Citigroup sending a scant half-dozen representatives or fewer. Some Democratic fundraisers and executives tell the New York Times that bailout banks are afraid of a backlash if they’re seen cutting $30,400 checks to Democrats. But others say Wall Street is outright miffed about Obama’s tough talk about their bonuses and anti-regulatory lobbying. “The investment community feels very put-upon,” says one event chairman. “They feel there is no reason why they shouldn’t earn $1 million to $200 million a year, and they don’t want to be held responsible for the global financial meltdown.” This year, Wall Street donors have accounted for just 3% of Democratic fundraising, compared to 6% last year. Read These Next "Admiral Piett" of the Star Wars universe died from COVID. Trump voter who supported mass deportations could be deported herself. Shooter opens fire on Texas Border Patrol Rescuer in floods gets a poignant question. Report an error