Sometimes a picture says it all.
Let there be no doubt where Wall Street’s political loyalties lie: Of all the money the securities and investment industry has poured into the 2012 presidential contest so far — to the candidates and the super PACs behind them — an unambiguous 92 percent has gone to the GOP, according to a new Center for Responsive Politics analysis.And in so doing, the securities and investment industry is betting hard on the candidacy of one of its own: Mitt Romney.Between his campaign committee and a monster super PAC supporting his candidacy, Romney has benefited from about 72% percent of the near $33 million Wall Street has contributed through February.The former Bain executive has received $7.3 million from industry-affiliated individuals and political action committees. That means securities and investment accounts for about 10 percent of the more than $74.8 million Romney has raised.
The sheer amount of cash Wall Street has sent Romney represents an extremely lopsided giving pattern. No other presidential candidate, including President Barack Obama, comes close to tapping the motherlode of industry riches.
The industry’s abandonment of Obama could hardly be more dramatic: Wall Street’s preferred candidate in the 2008 race with more than $6 million in industry campaign contributions at this point in the cycle, he has received less than $2.6 million from the industry so far this time around.
By way of comparison, organized labor thugs have responded by donating $38,156 to the Obama campaign.
And lest we forget the trend, Scott Brown has received 10 times as much from the securities and finance sector than Elizabeth Warren.
Please share widely!
