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Wall Street gave slight majority of funds to Democrats

Dow Jones MarketWatch reports: Wall Street, led by Goldman Sachs Group Inc., ended a 12-year run of Republican support by giving 51% of its donations to Democrats in this year's midterm elections.

Securities and investment firms donated $24.8 million to Democrats according to data made available Oct. 10, compared to $22.5 million, or 47% of all funds, to the GOP, according to Federal Election Commission data compiled by the Center for Responsive Politics, a Washington-based campaign-finance watchdog. The data are from about 18 months of contributions made through June. Final results won't be available until year-end or in early 2007.

Massie Ritsch, communications director for the center, said the securities industry was the only major industry to "flip" in the cycle from its traditional Republican support to the Democratic side. But the industry is also known to back the winners. -- Democrats take majority of Wall St. contributions - MarketWatch

Comment: As usual, the press refers to firms giving this money, but it was given by PACs or individuals employed by the firms.

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