Romney’s Raised Millions From Wall Street Bankers, More Than Twice As Much As President Obama

Back in July, the Washington Post noted that many of GOP 2012 presidential hopeful Mitt Romney’s largest donors were Wall Street bankers, led by employees of mega-bank Goldman Sachs. Bloomberg added today that, so far, Romney, even in a crowded GOP field, has raised more than twice as much from Wall Street as President Obama:

Republican presidential hopeful Mitt Romney has raised more than twice as much money from Wall Street as Barack Obama — an edge gained in part by luring away at least 100 donors, mostly investors, who backed the president in 2008, according to data compiled by Bloomberg.

The former Obama donors are helping the former Massachusetts governor lock up Wall Street dollars as Romney races to financially outpace primary rival Texas Governor Rick Perry in advance of the Sept. 30 third quarter deadline for campaign fundraising.

Romney has raised $2.3 million from the financial sector, while Obama has raised about $850,000.

The financial industry’s support for Romney should come as no surprise. After all, he has made attacking the Dodd-Frank financial reform law — aimed at preventing a repeat of the 2008 financial crisis — a centerpiece of his campaign. Likening financial regulators to “gargoyles,” Romney has called for the complete repeal of Dodd-Frank (even though he’s admitted that he’s not sure what’s in it).


Romney spent his business career in the financial sector, working at a private equity firm that caused thousands of Americans to lose their jobs. He has also appointed the chairman of a Wall Street front group to be one of his policy advisers. That’s evidently a perfect recipe for pulling in piles of Wall Street cash.


Politico reports that Romney is hauling in another $1 million today with a fundraiser in Manhattan.