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Wall Street Defects to Romney en Masse

He's out-fundraised Obama in the financial sector by a ludicrous margin
By Kevin Spak,  Newser Staff
Posted Jun 13, 2012 10:00 AM CDT
Wall Street Defects to Romney en Masse
Mitt Romney speaks during a campaign event at the military contractor Production Products on June 7, 2012 in St. Louis, Missouri.   (Getty Images)

(Newser) – Wall Street is behind Mitt Romney, and it's quite literally voting with its dollars. Romney is clobbering President Obama when it comes to financial-sector donations, raising $37.1 million to just $4.8 million, Politico reports. That might not sound surprising given Romney's financial roots, but many of these donors used to back ... Obama. Nineteen such former Obama 2008 supporters have donated $4.8 million to Romney and his super PAC, while abandoning the president completely.

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"There is so much dissatisfaction with the current president and his failed policies," said one ex-Obama donor. Another accused the president of engaging in "class warfare." Obama has indeed leveled attacks on America's wealthy. Yesterday he said Romney "seems to believe that if CEOs and wealthy investors like him are doing well, then the rest of us automatically do well." But he has also made plays for investor cash; this month he held a fundraiser at a hedge fund billionaire's Manhattan home. (Read more Mitt Romney stories.)

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