Goldman bankers shower Romney with cash, snub Obama

With the economy improving, Wall Street firms have money to support their preferred candidate.

By TheStreet Staff Mar 8, 2012 1:31PM

By Dan Freed

 

Goldman Sachs (GS) donors to the 2012 presidential campaign overwhelmingly favored Republican frontrunner Mitt Romney over President Barack Obama in January, according to data from OpenSecrets.org the website of the Center for Responsive Politics.

 

Romney raised $25,250 from 15 donors at Goldman versus $1,500 from three donors for Obama, according to the nonprofit's website, which does not appear to have any data beyond Jan. 31.

 

While those totals would not include any funds Obama may have raised from Goldman employees during a $35,800-a-plate Wall Street fundraiser he held earlier this month, they nonetheless represent a big shift from the 2008 campaign, when Obama raised $1 million from employees of the investment bank.

 

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Obama has gone back and forth between attacking Wall Street and backing away from tough rhetoric during his presidency, though memories of the whopping $550 million fine Goldman paid to settle Securities and Exchange Commission charges against the bank in 2010 are unlikely to have faded in the minds of Goldman employees. That case caused the bank to lose its bulletproof aura.

 

It also represented a blow to Goldman executives, who have long been proud of their participation in government and politics, something that had been a great asset to the institution but became a liability in the wake of the 2008 crisis as many people argued the government was essentially for sale to well-connected firms like Goldman.

 

Even beyond Goldman, however, Wall Street campaign donors, including employees of Citigroup (C) and Bank of America (BAC) overwhelmingly favored Romney in the fourth quarter.

 

Nonetheless, prominent Obama supporter and Evercore Partners (EVR) President and CEO Ralph Schlosstein told Bloomberg in an interview Wednesday that Wall Street antipathy to the President is "one of those things that probably gets exaggerated in both directions. It was never as bad as some people made it out to be who had an interest in making it look icy, and it's probably never going to be as warm as some of us might hope it would be."

 

Schlosstein said fundraising has gotten easier of late due to an improvement in the U.S. economy which means that "people are feeling better about the President."

9Comments
Mar 8, 2012 3:34PM
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I’ve added one more to my list of answers to questions of how things are better in the last 31/2 years: I know the list of successes for this President will never be long enough for the pin headed Republicans..... even when the Dow hit 14,000 and their 401Ks have spilled over with money!......it will still be about banning contraception and going to war with them. With Romney all he does is trash the other guy and when he has a proposal  it's not specific enough to even be measured..Good luck with him!

Negotiated a nuclear moratorium with North Korea!

23 months of job growth, rather than the 4,000, 000 jobs lost in the last 3 months of Bush

Bin Laden dead, Bush said he didn't care where he was..he didn't think about him much

Kaddaffi dead

Auto industry back and growing

Health care reform.. with preventive care which saves you money

401 Ks back

Credit card protection reform

Wall Street Banking protection reform

Equal pay for women in the work force

TAX CUTS PROVIDED TO YOU unless you make over $250,000

A positive GDP

Ending of a useless war In Iraq

Stock Market back

Student loan reform

Pell Grant reform

Lowest interest rates in 50 years!!!

Killed 11 times as many terrorists as GW - That is a bonus

Started the withdrawal from Afghanistan

Removal of DADT

Managed a Natural disaster in the Gulf better than Bush handled a hurricane response.

Oil production coming from the US is at an all time high..rising oil and gas production, and a greater mix of energy sources and decreased consumption.

Stopped a pipeline that was opposed by the state it was going to run through until they can reroute it away from the aquifer.

Did I help you out and answer your question. Obama 2012

Mar 8, 2012 9:21PM
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Well, looks like the wealthy know who is going to kiss their behinds.

Mar 8, 2012 11:48PM
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Obama's going after the low hanging fruit; our subsidies to the oil companies. 

 

I think getting the corporate money out of politics would be of greater benefit, but less likely because of the dirty hands in both parties.

Mar 11, 2012 9:27PM
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LOL LOL LOBBIST ? I guess the PACs are doing just fine ! Too bad the American people dont have lobbyist like wall street! Romney only needs your vote in November ! Because if he gets elected you can see who he will be working for ! The American people elect idiots to office ! And the lobbuist OWN THEM the rest of their terms ! ONLY IN THE USA.. Land of the free? Home of the stupid !!!!!!! Only in the USA baby...
Mar 8, 2012 6:49PM
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Should now make it easier for the government to go after the insider trading that goes on daily on Wall St.   

Mar 11, 2012 11:53AM
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I'm surprised they even gave Obama a dime.  All Obama has done is trash Wall Street, he believes they are The Evil Empire. 
Mar 8, 2012 5:10PM
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How about running a story on the amount of money the unions lavish on ODUMA vs what they

give to the republican candidates---Let's see what the disparity is there??????????

Mar 8, 2012 2:21PM
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Romney raised $25,250 from 15 donors at Goldman versus $1,500 from three donors for Obama. even the 1% have had it with Obama. Apparently the only people for Obama is the liberal new media.
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