"Senators Who Opposed Financial Reform Got More Cash..."

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Senators Who Opposed Financial Reform Got More Cash on Average from Wall Street Interests

Senators who voted against the sweeping financial regulatory reform bill Thursday have received about 16 percent more money from the finance, insurance and real estate sector over their careers than senators who supported the measure, according to a Center for Responsive Politics analysis.

Four Republican senators joined with nearly all of the Senate's Democratic caucus to support the Restoring American Financial Stability Act, sponsored by Senate Banking Committee Chairman Chris Dodd (D-Conn.), which ultimately was approved on a 59-39 vote. These Republicans were Sens. Scott Brown (R-Mass.), Olympia Snowe (R-Maine), Susan Collins (R-Maine) and Chuck Grassley (R-Iowa).

Democratic Sens. Russ Feingold (D-Wis.) and Maria Cantwell (D-Wash.) both voted against the bill, arguing the bill wasn't strong enough to prevent another financial meltdown, and Sens. Arlen Specter (D-Pa.) and Robert Byrd (D-W.Va.) were absent and did not vote.

By the Center's count, Wall Street interests have contributed an average of about $3.6 million to the leadership PACs and campaign committees of senators who opposed the bill since 1989. These same interests have contributed about $3.1 million since 1989 to the leadership PACs and campaign committees of senators who voted in favor of the legislation.

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