Wall Street Turning Blue

Bloomberg reports on a Center for Responsive Politics study that shows Wall Street giving more to Democrats than Republicans in the present cycle.

The Iraq war, Republican scandals, and the growing influence of hedge funds are all cited as reasons. Read it; here, we just wanted to highlight a couple of former Bush ‘Rangers’ New Yorkers will know:

One Clinton supporter is Morgan Stanley Chief Executive John Mack, who gave her Senate campaign $4,000 last year, his biggest donation to an individual politician, according to FEC records. In 2004, as co-chief executive of Credit Suisse Group, he raised at least $200,000 for Bush, earning him a spot in the Ranger donor club.

Mack’s only other individual candidate donation last year was $1,000 to Senator Rick Santorum, a Pennsylvania Republican, according to FEC records. Jim Badenhausen, a spokesman for Morgan Stanley, declined to comment.

Merrill Lynch, the world’s largest securities firm, is home to another one of Bush’s 2004 Rangers, Chief Executive Stanley O’Neal. Merrill’s political action committee, which pools executives’ donations, is on track to give more money to Democratic candidates than to Republicans for the 2006 election for the first time in the PAC’s quarter-century history, if current trends hold.

– Tom McGeveran

Wall Street Turning Blue