Skip to main content

Wall Street Loves Politics

  • Author:
  • Updated:

As it turns out, Wall Street gave heavily to the Presidential campaigns last year, proving once again the axiom: "Make money in good times, make friends in bad."

Leading all corporate donors in campaign donations as of the end of last year was investment banking giant Goldman Sachs, based on an analysis of Federal Election Commission records, the Center for Responsive Politics said.
The next four largest corporate donors were Citigroup, Morgan Stanley, Lehman Brothers and Merrill Lynch, according to the center's fourth-quarter preliminary analysis, which is subject to revision.

The total of Wall Street’s giving for this presidential race has hit almost $34 million. And who are the new friends of Wall Street? Democratic leaders Hillary Clinton and Barack Obama have been the biggest beneficiaries of this cash, each collecting for than $5 million. As always, it's unclear whether this is because Wall Street favors their policies or simply likes to bet on winners.
Corporate U.S. presidential campaign giving surges [Reuters via Guardian]