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Wall Street, fed up with a barrage of attacks from President Barack Obama, is abandoning the incumbent President and throwing is considerable weight and wealth behind presumptive GOP nominee Mitt Romney.
“They have basically ditched Obama,” Center for Public Integrity managing editor John Dunbar told CNN. “Romney is just a much friendlier candidate if you are a banker.”
And Romney’s new-found friends have money to burn. Wall Street execs wrote checks for $8.5 million to Romney through the end of April, compared to $3 million for Obama.
That’s a sharp turnaround from 2008 when Obama raked in $16 million while GOP contender John McCain had to make do with a paltry $9 million.
And who leads the list of financial fatcats taking out their checkbooks for Mitt? Gold Sachs, Bank of America, JP Morgan Chase, Morgan Stanley, Credit Suisse and Citigroup top the list.
Says Vivica Novak of the Center for Responsive Politics:
Wall Street has taken some of the blame for the financial crisis. The result of that has been increased oversight and regulation — two things that are never popular.
At least not popular with Wall Street.
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