Call them the TARP-Dems: Democrats near New York City who voted for, or otherwise supported the Wall Street bailout, and don’t apologize for it.
I wrote last week that around NYC, TARP was not a negative like it was in the rest of the country. This means there’s not as much anti-Democrat passion there as elsewhere. I checked in on the races of Jim Himes and Chris Murphy in Connecticut, and Tim Bishop in Long Island, and drew this conclusion:
Upper-middle class baby boomers in Fairfield and Suffolk counties may resent congressional waste, overspending, and corruption as much as the next guy, but they can’t really get worked up about the Troubled Asset Relief Program, because that might have just saved their retirement.
Himes says his constituents tolerate bailouts because they are “very well educated.” Whether it’s the extent of their education or the portion of their net worth in the stock market, these voters don’t get upset about the TARP.
That could save Bishop, Himes, and Murphy.
Well, all three of the TARP Dems won last night, as did Dick Blumenthal, the Democrats’ Senate candidate. On the other hand, New York John Hall and Mike McMahon both lost. But all, in all, I think my TARP observation held up.