Wall Street Likes Obama 11.8 Million Times More Than Previously Believed

[KoKo]

By Justin Rohrlich

Considering Wall Street's well-documented distaste for President Obama's economic policies, it might be logical to assume the lion's share of the donations to his re-election campaign recently have come from elsewhere.

Instead, a new analysis by the Center for Responsive Politics has found that "individuals who work in the finance, insurance and real estate sector are responsible for raising at least $11.8 million for Obama's campaign and the Democratic National Committee," or about one-third of the $34.95 million his "elite fund-raising corps" brought in during the second quarter of this year.

Dilling down a bit further, the data, released earlier today, shows the "Securities & Investment" industry having raised $7.2 million in Q2, $1.1 million more than the next highest group, "Lawyers/Law Firms" with $6.1 million.

Rounding out the top five: Business Services, $3.9 million, Real Estate, $2.3 million, and Misc. Finance, $1.75 million.

Aside from the folks that loudly profess to revile him, Obama continues to enjoy "vigorous support from small-dollar donors," adds Beckel, with "about 47 percent of his campaign's fund-raising haul came from individuals who gave $200 or less."

Article goes on to say:

Rounding out the top five: Business Services, $3.9 million, Real Estate, $2.3 million, and Misc. Finance, $1.75 million.

Aside from the folks that loudly profess to revile him, Obama continues to enjoy "vigorous support from small-dollar donors," adds Beckel, with "about 47 percent of his campaign's fund-raising haul came from individuals who gave $200 or less."

http://www.minyanville.com/dailyfeed/2011/07/22/wall-street-likes-obama-118/

[RUMMYisFROSTED]

1. "...well-documented distaste..."

I beg to differ.

[emulatorloo]

5. these are small dollar INDIVIDUAL contribs, not corporate contribs.

Not every person who works at a bank is a limbaugh listener.

But as you know when you make an indivual contributution, you have to list who you work for. That does not mean your employer is making the contribution, you are.

[KoKo]

6. The article points out...in case you didn't read that "small individual donors" are still around 47%

Sometimes folks don't bother to read ...they attack a poster because they "assume something." :shrug:

[RUMMYisFROSTED]

9. My point:

Considering Wall Street's well-documented distaste for President Obama's economic policies, it might be logical to assume the lion's share of the donations to his re-election campaign recently have come from elsewhere.


Well-documented but not necessarily true.

[emulatorloo]

11. Tell that to poster #8, not me. That post is proof the headline is confusing.

"Attacked" you? LOL, I know you have a much thicker skin.

"If you think every individual working in finance is a rabid republican you are wrong."

Yes that is an egregious, devastating, and horrifying "attack". Almost tombstone worthy, right? :toast:

[ProSense]

2. So

"individuals who work in the finance, insurance and real estate sector are responsible for raising at least $11.8 million for Obama's campaign and the Democratic National Committee,"

...the new definition of "Wall Street" is people who work for a living?

[bluerum]

3. Wall Street has been doing well. The rest of the country not so much.

[Cool Logic]

12. Indeed, why wouldn't Wall St. be at least somewhat pleased...?

Even when Obama is receiving criticism from some quarters on Wall Street, he's adding new Wall Street bundlers who did not work for him in 2008. Four of them are: former Goldman Sachs CEO Jon Corzine, Evercore Partners executive Charles Myers, Greenstreet Real Estate Partners CEO Steven Green and Azita Raji, a former investment banker for JPMorgan.

The other five finance-related top tier-Obama bundlers, who are bundling for him again this campaign, are:

Mark and Nancy Gilbert, of Barclays
Blair Effron, of Centerview Partners
Kirk Rudy, of Endeavor Real Estate
Orin Kramer, of Boston Provident
John Emerson, of Capital Group Companies

http://www.cnbc.com/id/43854224

[emulatorloo]

4. "individuals who work in the finance etc industries" We are talking individual contribs here

If you think every individual working in finance is a rabid republican you are wrong.

[Kolesar]

7. IIRC, "Wall Street" people gave Obama/2008 a lot of campaign contributions also

There had been a shift of "that money" away from the Republican party because they were unsatisified with bush Mitch McConnel and Tom Delay.

[NorthCarolina]

8. Why wouldn't they. No big surprise there. n/t

[stevenleser]

10. You realize that wall street is in New York City right? Individuals who work in those firms

may otherwise be Liberals like much of the rest of the populace here.