A major source of the revenue that fueled Bush’s 2000 and 2004 wins has turned to sunnier pastures in the Democratic Party, Bloomberg reports:
Bankers and investors don’t point to specific policies affecting their industry in explaining McCain’s lack of support. Grano, a McCain backer, said disappointment over what he calls the “terrible” execution of the Iraq war may account for some of McCain’s difficulties. Bush’s job performance is another oft- mentioned reason.
“There’s a great deal of dissatisfaction with the Republican Party,” said Mallory Factor, a merchant banker who co-hosts a weekly meeting of conservatives in New York City and raised more than $1 million for Bush and his party four years ago. “People are just fed up.”
And so, Republican power all but inevitably stripped for another few years, the savvy business community places its bets on the winning horse(s). It’s a cyclical thing: business plants it’s seeds in in the sound economic planning of Democratic presidencies, then rapes the field in the tax-slashing Republican presidencies.