Wall Street Fears Occupy Wall Street?
A prominent Washington lobbying firm, Clark Lytle Geduldig & Cranford, believes that the financial industry has much to fear from Occupy Wall Street. According to a leaked memo, the lobbying firm proposed to the American Bankers Association that “opposition research” on Occupy Wall street needs to be conducted to build “negative narratives” about the protests and politicians that are leaning towards supporting the movement.
The lobbying firm requested $850,000 to conduct the research. The memo claims that if Democrats win, then Wall Street loses. “This would mean more than just short-term political discomfort for Wall Street.” Moreover, the memo asserts that Democrats aligned with Occupy Wall Street have “the potential to have very long-lasting political, policy and financial impacts on the companies in the center of the bullseye.”
Also, the memo asserts that Republicans may abandon their defense of Wall Street because of the Occupy Wall Street movement.
The authors of this memo are partners Sam Geduldig and Jay Cranford. Both previously worked for Republican Senator from Ohio John Boehner. According to an American Bankers Association spokesperson Jeff Sigmund, “we chose not to act on it in any way.”
Ultimately, this memo still leaves a major question as to how much does John Boehner agree with his former colleagues who are now in the lobbying industry?