Obama's 'Bundlers' Shift Into High Gear

President rakes in donations, but Wall Street turns to GOP
By Mark Russell,  Newser Staff
Posted Oct 16, 2011 10:53 AM CDT
US President Barack Obama is stepping up his fundraising for the 2012 election campaign. But Wall Street is running to the Republican candidates.   (Getty Images)

(Newser) – President Obama's big-money "bundlers" are on the rise, with at least 41 supporters now having raised more than $500,000 each for the president, reports MSNBC. That's a sizeable jump from the 27 bundlers—well-connected supporters who help candidates raise big money—reported three months ago. It's also a sign that we're getting closer to the 2012 election season, predicted to be the most expensive ever. "The emphasis has been on doing larger dollar fundraising events, particularly asking for $2,500," said a campaign finance expert. "Events like this help him to raise substantial amounts of money for the campaign allowing him to exceed his pace for 2007."

Obama and the DNC have raised more than $165 million so far, well ahead of the Republican field—however, the really big money of Wall Street is increasingly lining up behind Mitt Romney and the GOP, reports the New York Times. Since the spring, Romney has raised more than $1.5 million from banks, hedge funds, and other financial firms; Obama, however, has gotten just $270,000. Goldman Sachs employees alone gave Obama more than $1 million in 2008, but so far in this election cycle, he's gotten just $45,000; Romney, on the other hand, has received $350,000 from them.

My Take on This Story
Show results without voting  |