Chuck vs. Al: a quandary for Wall Street. (Charles Schumer, member of the House Banking Committee; Alfonse D'Amato, chairman of Senate Banking Committee)

Crain's New York Business, June, 1997 by Lipowicz, Alice

Both are friends, but giving to Schumer a big risk for many firms New York banking and financial services firms are finding themselves in a bind over Brooklyn Rep. Charles Schumer's bid to unseat Republican Sen. Alfonse D'Amato. House Banking Committee member Mr. Schumer is one of a few Democrats viewed as allies of the financial industry.

Mr. D'Amato is chairman of the Senate Banking Committee. And both will need every dollar they can find to wage what is likely to be the most expensive Senate race in the country in 1998, with $40 million expected to be spent. "We like Chuck Schumer, but we wouldn't want to oppose Chairman D'Amato," says a Washington-based political action committee director for a Wall Street firm. "It's a dilemma." There are other candidates...

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