POLITICS
04/10/2010 05:12 am ET Updated May 25, 2011

Wall Street Punishes Democrats, Pours Money Into GOP Coffers

If the Democratic Party has a stronghold on Wall Street, it is JPMorgan Chase.Its chief executive, Jamie Dimon, is a friend of President Obama's from Chicago, a frequent White House guest and a big Democratic donor. Its vice chairman, William M. Daley, a former Clinton administration cabinet official and Obama transition adviser, comes from Chicago's Democratic dynasty.

But this year Chase's political action committee is sending the Democrats a pointed message. While it has contributed to some individual Democrats and state organizations, it has rebuffed solicitations from the national Democratic House and Senate campaign committees. Instead, it gave $30,000 to their Republican counterparts.

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