Despite frosty relations with the titans of Wall Street, President Obama has still managed to raise far more money this year from the financial and banking sector than Mitt Romney or any other Republican presidential candidate, according to new fundraising data.
Obama’s key advantage over the GOP field is the ability to collect bigger checks because he raises money for both his own campaign committee and for the Democratic National Committee, which will aid in his reelection effort.
As a result, Obama has brought in more money from employees of banks, hedge funds and other financial service companies than all of the GOP candidates combined, according to a Washington Post analysis of contribution data.
Obama’s ties to Wall Street donors could complicate Democratic plans to paint Republicans as puppets of the financial industry, particularly in light of the Occupy Wall Street protests that have gone global over the past week.
In response to the protests, the Obama campaign and other Democrats have stepped up their attacks on Romney and other Republicans for their opposition to Wall Street regulations.
One top banking executive who raises money for Obama, discussing fundraising efforts on the condition of anonymity, said reports of disaffection with the president “are exaggerated and overblown.” He said a strong contingent of financiers in New York, Chicago and California remains supportive of Obama and his economic policies, even as some have turned on him.
But, this donor added, “it probably helps from a political perspective if he’s not seen as a Wall Street guy.”
Bookmark this article. Then next year you can have it handy when some Obot or OWS zombie starts telling you that you have to vote for Obama “because the Republicans are worse!”™
Two key quotes:
. . . Obama has brought in more money from employees of banks, hedge funds and other financial service companies than all of the GOP candidates combined . . .
. . . reports of disaffection with the president “are exaggerated and overblown.”