After backing Obama in 2008, Wall Street donors are now turning towards another Progressive in 2012. Donors on Wall Street are now backing Mitt Romney.
It is no secret that the relationship between President Obama and Wall Street has chilled. A striking measure of that is the latest campaign finance reports.
Mitt Romney has raised far more money than Mr. Obama this year from the firms that have been among Wall Street’s top sources of donations for the two candidates.
That gap underscores the growing alienation from Mr. Obama among many rank-and-file financial professionals and Mr. Romney’s aggressive and successful efforts to woo them.
The imbalance exists at large investment banks and hedge funds, private equity firms and commercial banks, according to a New York Times analysis of the firms that accounted for the most campaign contributions from the industry to Mr. Romney and Mr. Obama in 2008, based on data from the Federal Election Commission and the nonpartisan Center for Responsive Politics.
Wall Street loves Crony Capitalism and Socialism. They don’t view Obama’s failure as the failure if their ideology. Instead they believe Romney could manage Socialism/State Capitalism better than Obama. Clearly the Global Elites are now anointing Mitt Romney.
Tags: Red Cross, State Capitalism, Wall Street
