The Money is Heard

My column for The Week has more to say about Senator Dodd’s proposals for financial regulation reform – and the big interests behind those proposals.

As the Senate opens a debate on financial reform, let’s consider these fun facts:

- In 2008, Wachovia bank’s main political action committee gave 62 percent of its money to Republican candidates; CEO Robert Steel donated $100,000 to candidates over the 2004, 2006, and 2008 cycles, 95 percent of which went to Republicans.

- Meanwhile, the Center for Responsive Politics, which tabulates such things, estimates that Democrats have collected more than 70 percent of the money donated by hedge fund PACs and executives since 2001.