Wall Street's chiefs are divided on the presidential election, according to DealScape.
The Federal Election Commission's records show that Hillary Clinton received campaign donations from JP Morgan Chase chief Jamie Dimon, Morgan Stanley chief John Mack and Goldman Sachs chief Lloyd Blankfein. John McCain received support from Merrill Lynch's John Thain. Dick Fuld of Lehman Brother's is hedging his bets, supporting McCain and Clinton, as well as Barack Obama.
Citigroup's Vikram Pandit didn't contribute to any of the campaigns.
What does this tell us about the political acumen of Wall Street's top men? Find out after the jump.
Most bet on the losing challenger, which might indicate that they aren't that great at picking political winners. On the other hand, donating to the presidential campaign of New York's junior senator probably has payoffs even though she isn't likely to be nominated by her party. Donating to Obama, however, seems like trying to shoot the moon: if he wound up losing, there wouldn't be much benefit to having garnered his good will and there would be the cost of having declared yourself an enemy of the Clintons. So maybe Clinton was the prudent choice.
For those of you who are real political junkies, we point out the first comprehensive study of the electoral college map we've seen. It comes from Robert Novak and Tim Carney (who happens to be the brother of one of our editors). Contrary to what some national polls (which, as we all know after 2000 and 2004, are largely irrelevant) might show, the state-by-state study shows a McCain victory by the narrowest of margins. McCain would receive 270 electoral votes to Obama's 268 if the election were held today. And, of course, it's all likely to come down to Ohio once again.
Wall Street prefers Democrats? [TheDeal.com]






Posted by guest , May 29, 2008 9:55AM
Poor Hil, she it had it locked on the street.
Posted by Finnegan , May 29, 2008 11:57AM
According to Atlantic Monthly, Obama is getting a lot of support from silicon valley.
Posted by Finnegan , May 29, 2008 12:04PM
Also, the premise of that electoral map is pretty much "Obama can't win rural whites," which is pretty much a Clinton talking point and a matter that would probably be addressed in any direct matchup (in terms of Obama picking a running mate relevant to that constituent, and actually challenging in those states that are usually written off).
One can take the same map, and skew the numbers the other way. It also discounts the growing number of people who are tired of the status quo and Republican incrementalism in policy changes.
As it is McCain can't even get a functioning team together, with staff leaving right and left and holding fundraisers in secret and closed to the press. Not a good sign.
Posted by guest , May 29, 2008 1:01PM
That hasn't been the first one out there. Here's another, with a different conclusion: http://www.electionprojection.com/elections2008.html
Posted by guest , May 29, 2008 2:38PM
Did Bob Novack ever get in on a D&D session?