Wall Street Donors Turning Away From Clinton
Saturday, 31 Oct 2015 10:27 AM
Hillary Clinton funded her New York Senate campaigns with Wall Street dollars, but the same can't be said of her presidential bid. Those donors are giving far more money to Republican presidential hopefuls than they are to Clinton.
In her White House bid, Clinton has gotten about $5.9 million from Wall Street for her campaign and super PAC, an analysis of Federal Election Commission data, compiled by the Center for Responsive Politics shows.
But former Florida Gov. Jeb Bush, whose poll numbers have tanked, has raised some $30 million from Wall Street, the analysis shows.
Bush isn't the only one pulling in money from Wall Street. Texas Sen. Ted Cruz has gotten $12.5 million, mostly from hedge fund magnate Robert Mercer. And New Jersey Gov. Chris Christie has taken in $5.2 million.
Part of the problem with the donors lies with President Barack Obama, who collected millions for his first presidential election. Once he was in office, he angered the financial sector first by passing the Dodd-Frank legislation, which put further rules on the financial industry, and then by saying he didn't seek office to help "a bunch of fat cat bankers on Wall Street.”
New York financier Anthony Scaramucci told The Hill he helped Obama in his first term because they had a law school connection, but backed Mitt Romney in 2012 because of Obama's anti-business stance.
And by the time Romney challenged Obama, the difference was huge. When Obama first ran, he collected twice as much from Wall Street donors as Republican nominee Sen. John McCain. But in the 2012 campaign, Romney pulled in $64.3 million from Wall Street, compared to $19.3 million for Obama.
Up until recently, contributions from Wall Street were almost evenly divided, according to the CRP report, although slightly biased toward Republicans.
Meanwhile, several of Romney's donors for 2012 said they will not return to Democrats, with one donor saying in 2008 he got "swept up" by Obama becoming the first African-American president, but now, he knows many such donors will return to supporting Republicans.
Obama doesn't bear full responsibility, though, as the Democratic Party as a whole is leaning more toward economic populism, and Clinton's chief rival, Sen. Bernie Sanders, hs drawing attention with his anti-Wall Street calls, including placing taxes on "Wall Street speculation."
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In her White House bid, Clinton has gotten about $5.9 million from Wall Street for her campaign and super PAC, an analysis of Federal Election Commission data, compiled by the Center for Responsive Politics shows.
But former Florida Gov. Jeb Bush, whose poll numbers have tanked, has raised some $30 million from Wall Street, the analysis shows.
Part of the problem with the donors lies with President Barack Obama, who collected millions for his first presidential election. Once he was in office, he angered the financial sector first by passing the Dodd-Frank legislation, which put further rules on the financial industry, and then by saying he didn't seek office to help "a bunch of fat cat bankers on Wall Street.”
New York financier Anthony Scaramucci told The Hill he helped Obama in his first term because they had a law school connection, but backed Mitt Romney in 2012 because of Obama's anti-business stance.
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And by the time Romney challenged Obama, the difference was huge. When Obama first ran, he collected twice as much from Wall Street donors as Republican nominee Sen. John McCain. But in the 2012 campaign, Romney pulled in $64.3 million from Wall Street, compared to $19.3 million for Obama.
Meanwhile, several of Romney's donors for 2012 said they will not return to Democrats, with one donor saying in 2008 he got "swept up" by Obama becoming the first African-American president, but now, he knows many such donors will return to supporting Republicans.
Obama doesn't bear full responsibility, though, as the Democratic Party as a whole is leaning more toward economic populism, and Clinton's chief rival, Sen. Bernie Sanders, hs drawing attention with his anti-Wall Street calls, including placing taxes on "Wall Street speculation."
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