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Friday, February 3, 2012

Obama Abandoned by Wall Street As Donors Flee To Romney

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 dramatically.

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)

1 comment:

Anonymous said...

Bad news for BO!