A sign that the K Street wing of the GOP will win 

Here’s another reason for conservatives, bailout-haters, and limited-government types not to get too excited if Republicans take over:

GOP leaders began speaking with lobbyists and corporate donors about the imbalance in their campaign contributions as momentum for a Republican upset built over the year.

I noted this phenomenon back when the Wall Street bill was in Congress — rather than push a real reform to prevent bailouts and promote a free market, the GOP just killed a bank tax, and went to The Street begging for cash. I wrote:

Wall Street gave 60 percent of its money in 2009 to Democrats according to the Center for Responsive Politics — the most one-sided figure since the center began keeping records. The bankers had climbed into bed with Obama, Dodd, and Charles Schumer. Instead of showing some self-respect and walking out on them, Republicans are begging the bankers to come back.
In fact, it’s basically the same thing Republicans did on health-care, where at first, their main objection was the public option, which they helped kill. Then they most focused on Medicare Advantage cuts.
And read that WaPo piece about the new K Street Project. You’ll note that Wal-Mart’s offense in the Republicans’ eyes isn’t backing cap-and-trade, an employer mandate, and higher minimum wage — it’s giving most of its money to Democrats.
Liberal blogger Tim Fernholz (in a blog post with plenty of silliness) puts it well:
I just can’t wait for the Tea Party to realize that, should the Republicans experience great gains today, they’ll have successfully returned the GOP of 2000-2006 to power in Congress.

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Timothy P. Carney

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