Wall St. Donors Move From Obama To Romney
August 22, 2011 by UPI - United Press International, Inc.
WASHINGTON, Aug. 22 (UPI) — Many Wall Street leaders who backed Barack Obama in his 2008 presidential bid now are donating to Republican presidential hopeful Mitt Romney, a review shows.
The review of fundraising data indicates 67 people working in the financial sector and living in the New York metropolitan area donated to Obama in 2008 but contributed to the former Massachusetts governor in 2011, The Hill reported Monday.
The change comes after Obama’s tough talk about Wall Street and congressional passage of reforms to the financial system in the so-called Dodd-Frank law.
The 67 people donated at least once to Obama’s 2008 campaign, but only three of those contributors have given to Obama’s re-election campaign. The Hill’s analysis indicated the pool of executives contributed more than $147,000 to Romney, co-founder of the private equity firm Bain Capital.
One Wall Street executive said he and some colleagues think Obama betrayed them.
“Everybody I speak to is on the same boat — disappointment,” said the executive, who contributed to Obama three years ago and now backs Romney.
The Hill said the Democratic National Committee and Romney’s presidential campaign did not comment.