A revolt among big donors on Wall Street is hurting fundraising for the Democrats' two congressional campaign committees, with contributions from the world's financial capital down 65 percent from two years ago. The drop in support comes from many of the same bankers, hedge fund executives and financial services chief executives who are most upset about the financial regulatory reform bill that House Democrats passed last week with almost no Republican support. The Senate expects to take up the measure this month. (Washington Post, 7/6/10)
Perhaps the geniuses on Wall Street have finally figured out who their friends….aren’t.
Foreign Affairs
Given President Obama's glaring domestic policy missteps, it is understandable that the public has largely been blinded to his foreign policy failings. In fact, these may have been even more damaging to America's future. He fought to reinstate Honduras's pro-Chávez president while stalling Colombia's favored-trade status. He castigated Israel at the United Nations but was silent about Hamas having launched 7,000 rockets from the Gaza Strip. His policy of "engagement" with rogue nations has been met with North Korean nuclear tests, missile launches and the sinking of a South Korean naval vessel, while Iran has accelerated its nuclear program, funded terrorists and armed Hezbollah with long-range missiles. He acceded to Russia's No. 1 foreign policy objective, the abandonment of our Europe-based missile defense program, and obtained nothing whatsoever in return. (Mitt Romney, Washington Post, 7/6/10)
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