GOP telling banks they're the 'best hope of preventing President Barack Obama and congressional Democrats from cracking down on Wall Street'

Even for the Republicans, this is rather over the top.

Republicans are stepping up their campaign to win donations from Wall Street, trying to capitalize on an increasing sense of regret among executives at big financial institutions for backing Democrats in 2008.

In discussions with Wall Street executives, Republicans are striving to make the case that they are banks' best hope of preventing President Barack Obama and congressional Democrats from cracking down on Wall Street.

GOP strategists hope to benefit from the reaction to the White House's populist rhetoric and proposals, which range from sharp critiques of bonuses to a tax on big Wall Street banks, caps on executive pay and curbs on business practices deemed too risky.

As Joe noted the other day, the GOP and financial industry have been growing closer over the past several months.