Obama still flush with cash from financial sector despite frosty relations
From The Washington Post: 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. The numbers show that Obama retains a persistent reservoir of support among Democratic financiers who have backed him since he was an underdog presidential candidate four years ago.
Obama’s fundraising advantage is clear in the case of Bain Capital, the Boston-based private-equity firm that was co-founded by Romney, and where the Republican made his fortune. Not surprisingly, Romney has strong support at the firm, raking in $34,000 from 18 Bain employees, according to the analysis of data from the Center for Responsive Politics. But Obama has outdone Romney on his own turf, collecting $76,600 from Bain Capital employees through September — and he needed only three donors to do it.
Romney spokeswoman Andrea Saul said the former Massachusetts governor’s success in the financial sector is evidence of the business community’s confidence in him as well as its unhappiness with Obama. Donors support Romney because of “the state of the economy and the president’s failure to create jobs,” she said. “President Obama and his campaign will say anything to distract voters from his failed economic record.”
OWS fans: Don’t blame the messenger for this news. Just relaying what The Washington Post reported. And finding the irony in this protest hysterical…