Sunday, May 23, 2004

Wall Street to Throw Parties for GOP at Convention

Doesn't this sound a little untoward?

Despite the talk about protesters overwhelming the Republican National Convention in New York City this summer, one sector of the city is rolling out the red carpet: Wall Street and its investment banks. They are showering the conventioneers with money for parties and other events to make the Republicans feel right at home.

Some of the main parties will be for Republican members of Congress who oversee the financial services industry. There will be brunches, dinners, dancing and late-night concerts for the conventioneers throughout the city.

One of the most celebrated guests will be Representative Michael G. Oxley of Ohio, chairman of the House Committee on Financial Services, which oversees Wall Street, banks and the insurance industry. Mr. Oxley will be toasted at a dinner party in the Rainbow Room, at a loft with sweeping views of the Hudson River and at a financial services round- table brunch, according to people who work in the financial industry, who say their firms plan to contribute to the three events...

Many more examples in the article.

Sounds like good old-fashioned payola.

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