September 15th, 2008
10:31 AM ET
6 years ago

Obama, McCain big beneficiaries of Wall Street

Firms in the battered financial sector have been big backers of the candidates.
Firms in the battered financial sector have been big backers of the candidates.

(CNN) - Both Barack Obama and John McCain have strongly benefited from Wall Street this election cycle, an analysis from the Center for Responsive Politics reports.

According to the non-partisan research organization, employees of security and investment firms have donated nearly $10 million to Barack Obama this year and close to $7 million to McCain's presidential bid.

McCain has particularly benefited from Merrill Lynch, the global financial services firm whose sale to Bank of America shook Wall Street Monday morning. He has raised nearly $300,000 from Merrill employees this year - more than any other firm.

Barack Obama, meanwhile, has strongly benefited from employees of Lehman Brothers, the financial firm that filed for bankruptcy Monday morning. The Illinois senator has raised approximately $370,000 from Lehman employees this year, more than three times what McCain has raised from employees of the failing firm.

Both McCain and Obama sharply criticized Wall Street practices Monday morning, and are calling for more regulation in the investment industry.

soundoff (223 Responses)
  1. Lisa M

    "employees of" not the investment firms.

    Good grief. Get real. They got donations from PEOPLE not the corporations.

    Now if someone wants to fess up that they were pressured to donate, that's another story.

    September 15, 2008 11:27 am at 11:27 am |
  2. Maryland for Barack

    Notice the article says EMPLOYEES – given, these employees are not exactly poor, but still, they didn't get the money from the companies themselves, but from the actual people who work for them.

    September 15, 2008 11:27 am at 11:27 am |
  3. Scott Tucson

    Well I guess Obama should scratch the employees of Lehman Brothers off his campaign contributor's list.

    September 15, 2008 11:28 am at 11:28 am |
  4. Mike

    What in tarnation this has to do with anything. Everybody works for somebody, and just because they personally donate money to a candidate does not mean that the candidate in benefiting from the company they work for. CNN stop making up headline news.

    September 15, 2008 11:31 am at 11:31 am |
  5. Candy West Virginia

    Obama has benefitted more from the employees because they believe in his platform. They know what a sham mccain is. mccain/palin = pathological liars.

    September 15, 2008 11:31 am at 11:31 am |
  6. DeniseGA

    This article has nothing to do with the banks failing.

    It is not Obama or McCain responsiblity to manage either of those commpanies! Nor are they expected to know where either companies financial status stands.

    Why is this posted here, IF at all???

    September 15, 2008 11:32 am at 11:32 am |
  7. Barbara - NC

    Employees are NOT COMPANIES. This is deceptive. Personal preferences are allowed in any election.

    DECEPTIVE STORY.

    September 15, 2008 11:35 am at 11:35 am |
  8. Sarah.....and my last name isn't Palin!

    Ok thanks for this trivia. Back to campaign news CNN.

    September 15, 2008 11:35 am at 11:35 am |
  9. Annie

    So it appears this venue seems to want Obama over McCain....Would it suggest they figured Obama might be more lenient with them and their excesses rather than McCain?

    September 15, 2008 11:35 am at 11:35 am |
  10. ANDREA

    hypocrites.......any American that is taking their hard-earned money and giving it to these candidates for "campaign fundraising" is a fool.

    NOBAMA
    NOMCCAIN

    NO MORE CORRUPTION IN THE WHITE HOUSE IN THE NAME OF "DEMOCRACY"

    This country needs true, ethical leaders who stand for the people and not special interests.

    CNN...do the right thing a post a comment that isn't status quo for once.

    September 15, 2008 11:35 am at 11:35 am |
  11. Mark, B'ham., Al.

    McCain has proven he does not show favor to donors, Obama has not proven the same!

    September 15, 2008 11:35 am at 11:35 am |
  12. Irishspacemonk

    just because a person donates, does not mean they donate money in their companies interest. The media tries to spin this every time and it's sickening. It's an attempt by the media to diminish the individual contributor.

    September 15, 2008 11:36 am at 11:36 am |
  13. To Obama supporters...

    I thought you guys were for change... what happened to no more politics as usual... Obama accepted even more money than McCain did... So who's really lying !!!

    September 15, 2008 11:36 am at 11:36 am |
  14. PALIN POWER

    But I thought Obama wasn't supported by big companies... yet he gets more from them than McCain...

    Oh yea... same ole same ole....

    September 15, 2008 11:36 am at 11:36 am |
  15. Barbara - NC

    Lynch, the global financial services firm whose sale to Bank of America shook Wall Street Monday morning. He has raised nearly $300,000 from Merrill employees this year — more than any other firm.

    Barack Obama, meanwhile, has strongly benefited from employees of Lehman Brothers, the financial firm that filed for bankruptcy Monday morning. The Illinois senator has raised approximately $370,000 from Lehman employees this year, more than three times what McCain has raised from employees of the failing firm.

    ********************

    Employees are NOT COMPANIES. This is deceptive. Personal preferences are allowed in any election.

    DECEPTIVE STORY.

    September 15, 2008 11:36 am at 11:36 am |
  16. Mccain Palin=Bush

    Everybody is donation to Obama i Work for a Conferencing Company and i Support Him and it is Million of Everday People that Support Obama unlike Mccbush that is in the Pockest of Oil Companies? OBAMA Biden the Real Clear choice in this Election

    September 15, 2008 11:40 am at 11:40 am |
  17. My Friends, let me tell you

    George Bush said we dont need to police Wall Street.Well I guess that means we dont have to save them either,does it?

    September 15, 2008 11:42 am at 11:42 am |
  18. Undecided

    can anyone of these bumbs say CHA CHING $$$$,

    At least Hillary wanted to put the bit back in the run away horse called Wall Street Greed Factor.....

    Clinton 12 ;-)

    September 15, 2008 11:42 am at 11:42 am |
  19. Belle2

    So much for Obama's funds coming from ordinary citizens.

    September 15, 2008 11:42 am at 11:42 am |
  20. Lynn: a 60 yr old, white Obama supporter

    Since when is it unethical to accept donations from EMPLOYEES...aren't we all employees and isn't this a democracy?

    Seems to me that all the employees of these investment firms realize the way to fix this mess and secure their jobs is to go with the candidate who actually has PLANS and policies rather than McCain's BLUSTER, LIES, and RHETORIC and lobbyist advisors that helped get America in this mess.

    September 15, 2008 11:44 am at 11:44 am |
  21. LAME

    This is a non-story CNN.

    If I worked in an office for Exxon/Mobile somewhere and donate to Obama it would seem as if Obama was benefiting from the Oil companies. Likewise, if I worked for Chase and donated to McCain it would seem as if he was benifiting from the credit companies.

    Hows this for some advice, HOW ABOUT YOU (CNN) DO SOME CREDIBLE REPORTING AND STAY AWAY FROM TABLOID POLITICS.

    September 15, 2008 11:45 am at 11:45 am |
  22. John Kaleto

    What do you want to bet one of the first actions Obama would do as president would be a quid-pro-quo and bail out Lehman Brothers.

    This is the guy supposed to change Washington? I think not!

    September 15, 2008 11:48 am at 11:48 am |
  23. The Voice of Common Sense (Independent Voter - Charlotte, NC)

    EVEN MORE REASON TO JOIN RON PAUL IN VOTING 3RD-PARTY!!!

    BALDWIN/CASTLE 08!!!

    September 15, 2008 11:48 am at 11:48 am |
  24. Michael

    Obama has by far gotten more money from the institutions that most threaten the stability of Wall Street and the economy. He's not change, just more of the same economic disaster that he lies and says is all the fault of Bush and McCain. lies, lies and more lies from Obama .

    September 15, 2008 11:48 am at 11:48 am |
  25. Phil Newton in Murphy, Oregon

    You cannot go to the source of the problem and expect it to fix the problem.

    McCain and Gramm are at the source of the poison, and they are fed by it.

    Pathetic.

    Throw them out.

    Obama 08!

    September 15, 2008 11:51 am at 11:51 am |
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