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. . . 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 has raised a total of $15.6 million from employees in the industry, according to the Post analysis. Nearly $12 million of that went to the DNC, the analysis shows.
Romney has raised less than half that much from the industry, while Texas Gov. Rick Perry brought in about $2 million. No other Republican candidate has raised more than $402,000 from the finance sector, which also includes insurance and real estate interests.
The ultra-conservative Washington Post uses this information to paint Obama as pro-banks and pro-financial sector in order to make him less attractive to progressive voters. Of course, people who follow politics at least minimally will find this information to be very belated. We all remember how Obama appointed Summers and Geithner, of all people, to key positions two seconds after he was elected. This gave us all the information we could have possibly needed about the new President’s position on the economy. Today, we are reaping the results of those appointments.
In my opinion, the huge support that the financial sector offers Obama today has to do with Wall Street’s realization that Obama is the only candidate who might, if given enough reason to, listen to the #Occupy protesters and start bringing back some of the regulation measures on the financial industry that are the only way of saving us all from complete and utter economic collapse.
At this point, Obama is not listening to his erstwhile progressive supporters. However, he might. Especially, if the protests intensify as the election draws closer. This is why Wall Street is trying to buy him off as fast as possible. Overall, I’d say this is very good news because it demonstrates that the bankers are finally taking the #Occupy protesters seriously. President Obama will be well served to do the same.