President Barack Obama has been abandoned by the world of finance.
Over the course of the 2012 election, his presidential campaign has
received about one dollar in donations from the financial sector for
every five dollars given to his top competitor, Mitt Romney, according
to figures provided by the Center for Responsive Politics (CRP). During
the final three months of 2011, however, the margin has widened
The Huffington Post examined campaign contributions from four highly
influential finance sectors to both Obama and Romney. Using categories
compiled by CRP, the 20 most politically active commercial banks, hedge
funds, securities firms and "private equity and investment" firms were
pinpointed (i.e. those with the strongest history of political
donations); some lists overlapped. But between them, 68 separate
companies were identified.
In the fourth quarter of 2011, Romney raised $1.49 million from
employees of those 68 companies while the president's reelection
campaign raised just $127,000 -- an 11.7-to-1 ratio. It was the most
lucrative quarter for Romney yet.
"Clearly it was a great quarter for Romney, in terms of fundraising
from Wall Street and from securities and banking firms, in particular
the biggest one," said Sheila Krumholz, CRP's executive director. "It is
not surprising that he was able to do that. It is just surprising how
rapid the shift has been towards him and away from Obama." (Continues here)