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NEW YORK (CNNMoney) -- You know who's really mad at Washington? Corporate America.
Led by Howard Schultz of Starbucks more than 100 CEOs have signed a pledge to halt all political campaign contributions until lawmakers, as Schultz puts it, "stop the partisan gridlock in Washington, D.C."
Last week, he mounted a one-man bull rush against a political culture that has "chosen to put partisan and ideological purity over the well being of the people."
Schultz said he was going to stop writing checks, and he asked other CEOs to join him.
The goal is to hit lawmakers right where it hurts: the pocketbook.
"All it seems people are interested in is re-election," Schultz told CNNMoney last week. "And that re-election -- the lifeblood of it is fundraising."
Schultz's own political donations, as chronicled by the nonpartisan Center for Responsive Politics, skew heavily Democratic. Out of a total $183,650 in donations, only $1,000 went to Republican candidates.
Months after the one-time doomsayer on bank stocks sparked a mass exodus from the municipal bond market, Meredith Whitney told Bloomberg Radio Wednesday that there's no urgency for Bank of America to raise capital.Her pronouncement sent shares of the battered bank soaring nearly 11% Wednesday. The gains spilled over to other banking stocks, with shares of Goldman Sachs, JPMorgan Chase, and Citigroup rising between 1.7% to 2.8%.
By midmorning, shares of Bank of America eased off earlier highs, trading up 8.49% to $6.82, marking the stock's first day in positive territory in weeks. ....
Bank of America CEO Brian Moynihan and representatives for the company continue to tell the market that the bank has a comfortable cash cushion, yet the stock has persistently sold off on rumors to the contrary.