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. prairieguy

    Employees giving doesn't mean either camapign benefited from the firms...get your story right.

    I work for a financial insitution and have given...does that mean the camapigns benefited from my company??????

    September 15, 2008 12:15 pm at 12:15 pm |
  2. indiePA

    Many, many candidates for various offices throughout the U.S. have received $$$$ from Fannie Mae and Freddie Mac...and the taxpayer has to save them????? It becomes plainer during every election that we can "leave our comments" anywhere. Sadly, no matter what the constituency believes, big money wins....it's the American way. Who's going to "change" that??

    September 15, 2008 12:15 pm at 12:15 pm |
  3. Phil-Texas

    I bet they wish they had their money back now. The only way wall street can be fixed is to get the corrupt bankers and speculators out of the stock business. It needs to be separated from the banking industry like it used to be. I don't think Mc Cain is smart enough to make that move.

    September 15, 2008 12:15 pm at 12:15 pm |
  4. jc

    John McCain is ABSOLUTELY FALL THE PART!!!!!!!!!!! :::::

    John McCain for his failure to answer a question about how many homes he owns?? UM.. I HAVE TO ASKED MY STUFF TEAM ( HE CANT COUNT IT) DO UR MATH!!!

    McCain doesn't know a thing about Wall Street. (economics ) DO UR MATH!!!

    OBAMA/BIDEN 08 -12

    CNN POST THIS!!!

    September 15, 2008 12:16 pm at 12:16 pm |
  5. sm

    AND.....

    Obama got big donations from Freddie and Fannie.
    The Tax payers are now going to have to Pay Back.

    September 15, 2008 12:16 pm at 12:16 pm |
  6. Ralphy

    That headline is misleading CNN, they benefit from employees, not from "Wall Street."

    September 15, 2008 12:16 pm at 12:16 pm |
  7. John Hussein OBAMA

    If I was one of those Merill Lynch employees, I'd want my money back after seeing the blatant lies being spread by the McCain campaign.

    September 15, 2008 12:17 pm at 12:17 pm |
  8. Jean

    "Obama out spending Lehman employee's money while they are jobless today."

    Very sad headline but does put American politics into perspective.

    September 15, 2008 12:18 pm at 12:18 pm |
  9. Sally from Cali

    Republicans...the chickens are coming home to roost...

    Even Wall Street is looking for change...REAL CHANGE...that is... not lip service. McCain still thinks the economy is fine (of course he does. He has 7 houses...he's, I mean, Cindy's rich).

    Obama/Biden '08

    September 15, 2008 12:19 pm at 12:19 pm |
  10. Mike

    Greenspan (the man McCain has called a mentor) has said that McCain's tax plan is unaffordable, irresponsible, will make things worse and shows McCain doesn't know what he's talking about. Of course, McCain and Co. are too busy playing victim, complaining that they are being "insulted" by getting called out on lying, to address the issue head on. The news media doesn't want to print that though because it is a decisive piece of information and doesn't allow them to pretend there is a controversy as to whose tax and economic plan is better. Grab up that advertising revenue while you can guys, it's only going to take an Obama loss in November for you to start feeling America's wrath for your shoddy journalism.

    OBAMA/BIDEN '08: THE BRIDGE TO NO WAR.

    September 15, 2008 12:19 pm at 12:19 pm |
  11. Chickens coming home to roost

    The price to pay for the Hillary hate from the Obama camp is a LOSS in NOV.

    Hatred is like that.

    September 15, 2008 12:19 pm at 12:19 pm |
  12. Republicans Hate America

    At least Obama knows the benefits McCain is still trying to figure out how many homes he lives in.

    September 15, 2008 12:20 pm at 12:20 pm |
  13. David

    Travis- you got it right. No change coming from either of these bought and paid for (by the elites) candidates.

    September 15, 2008 12:20 pm at 12:20 pm |
  14. proud army and navy mom

    the last time I checked those employees that donated are US citizens with a brain and can support whoever they like. This is a non-story.

    How much has the employees of Fox News donated to the Republican Campaign?

    September 15, 2008 12:21 pm at 12:21 pm |
  15. vicky

    Explain to me if these employees who are donating to both McCain and Obama are doing it on their own or do the big bosses tell them that they have to. I just don't get this argument.

    September 15, 2008 12:23 pm at 12:23 pm |
  16. Barbara - NC

    Travis read only PART of the Deceptive Headline CNN. See what deception does?

    September 15, 2008 12:23 pm at 12:23 pm |
  17. JohnBoy

    LOOK LIKE THE DEMOCRATS ARE GOING TO LOSE ANOTHER ONE.

    AMERICANS WILL NOT VOTE FOR OBAMA, HE IS A EMPTY SUIT.

    OBAMA, SHOULD HAVE CHOSEN HILLARY, BAD JUDGEMENT ON YOUR PART.

    TAX THE RICH, WHAT A JOKE, NO ONE BELEAVES THAT.

    AUTOMATIC SURRENDER, AMERICANS WILL NOT GO FOR THAT.

    LARGER GOVERMENT AND LESS FREEDOM, NOT FOR AMERICANS.

    WONDER WHO THE PERSON THAT DOES THE TELE-PROMPTERS FOR OBAMA?

    LETS HAVE SOME REAL DEBATES, WHAT YOU SCARED OF OBAMA?

    LETS HAVE SOME DRILLING FOR OUR OIL, COME ON DEMOCRATS, DO YOU HEAR AMERICAN s NOW NANCY?

    McCAIN 08

    September 15, 2008 12:24 pm at 12:24 pm |
  18. j.williams, san diego

    the community organizer will save us.

    September 15, 2008 12:24 pm at 12:24 pm |
  19. Ms. White

    Of course he thinks the economy is strong...he does not have to worry about losing his job when he loses the presidential race...back to the senate and his 7 homes

    September 15, 2008 12:26 pm at 12:26 pm |
  20. Lyndon,CA

    Wall street votes in black and white and GREEN!

    September 15, 2008 12:28 pm at 12:28 pm |
  21. Terry

    We may be seeing a depression very soon for I work for a very large firm in which we just left a private meeting where our company will be filing bankruptcy and part of a subdivision will be bought out by a overseas company. It could be very well my company that gives the economy its final blow. We were informed this morning the amount of salary we would receive we all signed documents advising us not to let the general public know until it became public in October 2008, I am struggling with my conscience as I write this, may god have mercy on me.

    September 15, 2008 12:28 pm at 12:28 pm |
  22. No Hillary = No Obama

    This is the shame of American politics – driven by money; bragged about the millions upon millions upon millions of money collected for 1 person. Obama's campaign is worse then McCain's – they bragged through the Clinton primaries and now they are bragging again and again. All this, while they preach about the poor Joe who lost his job, the ecomony in shambles, people who can't afford health care. How dare they! Obama did away with campaign financing rules so the sky could be the limit – so as to turn red states blue, have to see his face on ads all the time, hear is pitch over and over and over. This guy is one big hypocrite. The whole thing is disgusting.

    September 15, 2008 12:28 pm at 12:28 pm |
  23. fixthebroken

    That's right j.williams. The community organizer *will* save us.

    This time around, give me the community organizer over the sadly dishonorable any day of the week.

    September 15, 2008 12:28 pm at 12:28 pm |
  24. Barbara - NC

    If McCain flops on economy, he'll have to get his friends to conjure up a world crisis to bring him votes.

    FEAR-MONGERING IS NEXT !!

    September 15, 2008 12:28 pm at 12:28 pm |
  25. Dems are stuck in the fix they rigged

    Sarah will kick Obama's butt all the way to Alaska... or Russia.

    Hillary could have and would have kicked his butt out of the primary- but for the RACE-CARD. Obama used race both as a shield against criticism and as a sword to gut and tear apart Hillary.

    Buyers remorse, democrats?

    September 15, 2008 12:28 pm at 12:28 pm |
1 2 3 4 5 6 7 8 9