Tag Archives: New Jersey

Commentary

Rich Wall Street donors abandoning Democrats

3 Comments

Story here in the leftist Washington Post. (H/T Wes Widner, ECM)

Excerpt:

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.

[…]In reviewing the FEC records, The Post analyzed fundraising data for New York City and its suburbs in New Jersey, on Long Island and north of the city — a region that had become an outsized source of Democratic campaign cash. In the 2008 cycle, 28 percent of the two committees’ itemized individual contributions came from the region. Manhattan alone accounted for 20 percent.

In this election cycle, the percentage raised in New York is less than 10 percent of the total.

More than 600 regular donors from the New York area — whose four- and five-figure checks added up to $10 million for the DSCC and DCCC in 2006 and 2008 — have so far abandoned their effort to retain the Democratic majorities.

Take Jamie Dimon, the head of J.P. Morgan Chase, who is known for his close relationship with President Obama.

In 2006 and 2008, he donated $65,000 to the Democratic committees. This election cycle, he has not contributed at all to the DSCC or DCCC. At the end of March, however, he gave $2,000 to the campaign of Rep. Mark Kirk (R-Ill.), who is seeking to claim Obama’s former Senate seat. A spokeswoman for Dimon noted that he has given to individual Democratic candidates, just not to the campaign committees.

Other prominent Democratic donors who have not given to the Democrats this year include Leon Black, a co-founder of the $53 billion New York-based Apollo Global Management a private-equity firm, and his wife, Debra Black. The couple gave more than $200,000 to Democratic congressional committees over the previous two election cycles but have not given this year, according to the latest disclosure documents. A spokesman for Apollo declined to comment.

Lloyd Blankfein, chief executive and chairman of Goldman Sachs, has not donated to the Democrats, either, after giving $50,000 in the previous two cycles. A company spokesman declined to comment.

The problem has been particularly acute for Senate Democrats, whose previous DSCC chairman, Sen. Charles E. Schumer (N.Y.), had strong connections to Wall Street.

Wow, bet you never knew that big Wall Street bankers were all Democrats, did you?

Videos

Chris Christie explains the war between teacher unions and parents

Leave a comment

Awesome video from Hot Air. (H/T Cubachi)

Excerpt:

Governor Chris Christie gives remarks regarding teachers and the teachers Union, the NJEA during a Town Hall Meeting in Robbinsville, NJ.

Christie explained that his fight is not against teachers. It is against the NJEA. Christie cited this stat: a teacher who is in the union, pays $730 a year to join. If a teacher doesn’t want to join the union, they pay 85% of the $730 per year, to not join.

That money raises $130 million a year to pay for lobbyists, to stare down the legislature. They also spend the money, as well as tax payer money from NJ residents from property taxes and other taxes to buy ads attacking the governor.

Here’s the clip:

I found another good 4-minute clip from a different education policy speech at the Heritage Foundation, too.

The full speech from the American Federation for Children Policy Summit is in 4 clips on YouTube:

And you can learn more about how school choice helps students to learn, and parents to get their money’s worth.

I love policy. The quickest way to a man’s heart is tax policy and education policy and foreign policy.

Videos

NJ Gov. Christie smacks down reporter who accuses him of being “confrontational”

7 Comments

This is a must-see I found at Hot Air.

He’s not my favorite Republican, but that is pretty funny.

And he supports school choice

Although New Jersey is dominated by teacher unions, the Republicans passed a school choice bill.

Excerpt:

A Senate committee approved legislation today creating scholarships for students to attend private schools during a raucous hearing held in front of the Statehouse Annex building.

Hundreds of demonstrators, mostly students from private and charter schools, gathered to rally for the bill. Supporters said it provides students a chance to leave failing public schools, while opponents said it undermines the public school system.

The bill (S1872) could fund $24 million in scholarships for up to 4,000 children the first year. After five years, up to 20,000 children would receive $120 million in scholarships, they said. More money would be set aside for grants to public schools. The funding would come from donations by corporations who would receive tax credits equal to their contributions.

[…]A similar bill has previously failed to gain traction in recent years. Now it has bipartisan backing in the Senate — it’s spearheaded by Lesniak and Sen. Tom Kean Jr. (R-Union) — and Gov. Chris Christie’s support.

[…]African-American churches, led by Black Ministers Council Executive Director Rev. Reginald Jackson, held a press conference earlier this morning to support the legislation. He said people need to decide whether to support school institutions or the children.

“Why do we insist on supporting a failing system?” he said. “When are we going to decide our children are more important.”

The only people who don’t like school choice are unionized teachers who don’t want their customers (parents and children) to have a choice to fire them if they don’t perform. Would you like it if you could only buy one kind of shoe? Or one kind of gaming console? Then why do you put up with government-run monopolies when it comes to your children’s education? Let teachers who are good be paid more, and let teachers who are bad be paid less. That’s just common sense.

Must-see videos on education policy

Related posts