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. obama, obama

    McCain, the leader–Obama, the follower.

    September 15, 2008 12:28 pm at 12:28 pm |
  2. go away mongers-Ventura ca

    Those in trouble reach for HOPE- that's why the company's employees have reached out to Barack Obama.

    September 15, 2008 12:29 pm at 12:29 pm |
  3. Spencer from VA

    And Mcain says the economy is in good shape. Along with his alzheimers, he must be going blind as well.

    September 15, 2008 12:29 pm at 12:29 pm |
  4. Dems are stuck in the fix they rigged

    Sarah will crack down on all this crap from both sides.

    Obama is no better than those he criticizes

    September 15, 2008 12:29 pm at 12:29 pm |
  5. don

    McSane and his team are playing dirty and he promised us way back that he would not run a clean campain and now this is what they are giving us. I am ashamed to be a part of this party.

    September 15, 2008 12:30 pm at 12:30 pm |
  6. NORA, FLORIDA

    Yahoo.com is reporting the following: Bush: Economy strong enough to handle current turmoil.

    NOW FELLOW AMERICANS, ARE YOU SURE YOU WANT THAT TYPE OF THINKING TO CONTINUE ON????

    McCain is more of the same.

    I live in Florida and like Ohio, Michigan, and Pennsylvannia, we have been HIT HARD BY REPUBLICANS GANDER!!!!! SO WHYYYYYYYYYY ARE SO MANY PEOPLE STILL DEAF AND MUTE TO McCAIN????

    September 15, 2008 12:30 pm at 12:30 pm |
  7. IAIAIAIAIAIAIAIAIAIAIAI

    f u n n y,,,,,,,,,,h o w,,,,,,,,,o b a m a,,,,,,,,,p a s s e d,,,,,,,,u p,,,,,w a l l,,,,,,,,,,,,

    s t r e e t,,,,,,,,,,o u t,,,,,,,,o f,,,,,,,,,s c h o o l,,,,,,,,,,,b u t,,,,,,,,,n o w a d a y s,,,,,,

    s w i m m i n g,,,,,,,in ,,,,,,,,,,,$ 10 m i l l i o n,,,,,,,,,,of ,,,,,,,,w al l,,,,,,,,s t r e et,,

    d o n a t i o n s

    September 15, 2008 12:30 pm at 12:30 pm |
  8. Kent, Illinois

    If these institutions flop they flop. Hey, the markets and competition will prevail. No one saves little businesses that die because of corporations. Companies will buy them. let it happen.

    September 15, 2008 12:30 pm at 12:30 pm |
  9. Tainopwer

    Robin hood obama will take care of the situation .will steal from the rich and give it to the poor . And I mean poor, if you make more then 40,000 a year you are not poor. and robin hood obama will take your money and give it to the poor . I other words .redistribution of wealth. That is socialism.

    September 15, 2008 12:30 pm at 12:30 pm |
  10. Barbara - NC

    j williams – the constitutional scholar will save us

    September 15, 2008 12:31 pm at 12:31 pm |
  11. mitchell

    when we fail to change
    something inside us falls to sleep
    and gets harder and harder to wake up from.......

    "democrats, independents, and republicans all fought, bled, and many have even died under the same proud flag!" [barack obama]

    republicans should stop attacking our patriotism.

    September 15, 2008 12:31 pm at 12:31 pm |
  12. Amanda, NH

    Barack was a community organizer in his early twenties. What is wrong with that? I'm sure a lot of people were doing far less in their early twenties. He is an outstanding candidate, and one that I'll be proud to call my next POTUS.

    Barack is running for the President of the United States in his forties, McCain left his first wife and kids to have an affair with Cindy Lou in his forties. Which one do you think is honorable?

    Obama/Biden 08

    September 15, 2008 12:32 pm at 12:32 pm |
  13. Dems are stuck in the fix they rigged

    But Obama is different... pure as driven snow.

    September 15, 2008 12:33 pm at 12:33 pm |
  14. Reginald, OH

    George W. Bush's America.

    We don't need more of the same with McCain, or should I say McCan't.

    Obama/Biden 08

    September 15, 2008 12:33 pm at 12:33 pm |
  15. Josh

    Are donations from employees counted as the organization? I dont understand.I thought these are individuals making individual choices just the same way they vote.Should this in any way be branded as "wall street"?

    September 15, 2008 12:33 pm at 12:33 pm |
  16. Peggy

    A vote for OBAMA will bring us even closer to socialism. Wake up people.........You say you want Big Government out of your life???
    OBAMA/BIDEN is not the way to do it. Look beyond the name calling and see the reality of what Obama stands for.........It's a scarry picture

    McCain and Palin in 2008

    September 15, 2008 12:33 pm at 12:33 pm |
  17. Pat

    Well said Travis. Everyone blindly follows their own political party all the way to destruction.

    September 15, 2008 12:34 pm at 12:34 pm |
  18. Apples for sale

    Im stocking up on Apples to sell on Wall street,$10.00ea. for the big spenders.Ahh you got to love Capitalism without checks and balances.

    September 15, 2008 12:34 pm at 12:34 pm |
  19. Independent Women for Obama

    Oh my god. I can't believe the lies that McCain is saying. How can he do this. Reps claim to be Christians and they are doing all of this just to get elected for another 4 more years.

    Women, men, young people please wake up and vote for Obama/Biden.

    September 15, 2008 12:35 pm at 12:35 pm |
  20. Gerald, MI

    Don't worry folks, George Bush has three more months to really mess things up. He's going out with a bang!

    While his buddy, McCain says "Country First". Well my question is which country? He can't mean ours.

    Obama/Biden 08

    September 15, 2008 12:36 pm at 12:36 pm |
  21. Mike in Houston

    If the press does the job that so far it has not, we will all learn that Obama is already bought and paid for by hedge funds, George Soros, Wall Street and organzied labor. He is their Uncle Tom.

    September 15, 2008 12:36 pm at 12:36 pm |
  22. chuckles199

    neither obama or mccain know anything about economics. they know NOTHING

    September 15, 2008 12:36 pm at 12:36 pm |
  23. Cindy, Texas

    McCain does not even understand the economic jargons written down for him in his speasces. He could barely pronounce them!

    America will suprise the whole world if we elect McCain after bush. Do we take pride in illitracy?

    September 15, 2008 12:37 pm at 12:37 pm |
  24. Who Cares?

    Travis is right, both McCain and Obama have benefited from Wall Street. We need to hold these politicians accountable. It is ridiculous to spin these reports for one or the other of the candidates. How do you think we are going to pay for all of the programs that these candidates are proposing? Definitely Camelot is not coming any time soon!

    September 15, 2008 12:37 pm at 12:37 pm |
  25. Chuck

    Hey, Obama....

    I thought it was supposed to be "Take from the rich and give to the poor?" How come for you, it's "Take from the rich, the poor, and anyone that will throw you a penny?"

    How many tax dollars that are paid for welfare and student loans are being "donated" to Obama's campaign?

    September 15, 2008 12:37 pm at 12:37 pm |
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