Wall Street ditches Obama, backs Romney
May 29th, 2012
08:06 AM ET
11 years ago

Wall Street ditches Obama, backs Romney

NEW YORK (CNNMoney) - Hell hath no fury like a woman scorned - but what about a Wall Street titan?

Deep-pocketed financiers have abandoned President Obama and are flocking to Mitt Romney in droves, providing more donations to his campaign than any other industry except retired workers. (And that's not really an industry.)


Filed under: 2012 • Mitt Romney • President Obama • Wall Street
soundoff (23 Responses)
  1. Wake up people

    Did anyone expect anything different? Robmey is a millionaire who is all about the rich getting richer while the poor get poorer. Now why on earth would anyone besides millionaires support this vampire? And shame on ANY veterans that do. He himself is a draft dodger and he has 5 count em, 5 sons and not 1 of them have ever served. People, wake up from the stone age and realize President Obama is doing a great job despite a treasonous obstructive congress. Give the man a chance to continue moving forward, don't take us backwards simply because you have a problem with a black family occupying the White House when all the other occupants have been white. It's 2012 people, it's time we came together as one people.

    Wake up people!
    OBAMA 2012!

    May 29, 2012 08:18 am at 8:18 am |
  2. Gurgyl

    What do you expect??? Didn't I tell you this Election is all about RICH v/s MIDDLE CLASS AMERICA, drive these devils out, America, you have weapon I.e VOTE in democracy, God bless!!!!!

    May 29, 2012 08:34 am at 8:34 am |
  3. Governor 47th in Job Growth

    Simple. Wall Street hates regulations. Left unchecked they will always do the right thing even when nobody is looking, right? How'd that work out for us in 2008?
    Since one wants to take us back into the failed Bush policies and believes "corporations are people, my friend" I'll vote for the other who doesn't just want a system to work only for the priviledged few.
    Obama/Biden 12

    May 29, 2012 08:35 am at 8:35 am |
  4. Marie MD

    Good to know that retired workers don't need social security and/or Medicare in their daily lives. Must be nice to have as much money as the fat cats in WS who like the businessman whose sole purpose in life has been to make money without using his, while making more money fornhimself, and firing American workers while closing plants and bankrupting companies.
    Glad to know that the American greed for more money than you will EVER spend in your life is alive and well and still a disgrace!

    May 29, 2012 08:38 am at 8:38 am |
  5. firebird9999

    Well, that should tell us 99% folks all we need to know about Romney. Let Wall Street and the big banks throw more of our taxpayer money at the man whom they obviously consider one of their own, and let's hope the country grows some brains and keeps Obama instead of electing the man who has lined his pockets with our blood.

    May 29, 2012 08:43 am at 8:43 am |
  6. Rudy NYC

    Of course they would. Romney wants to cut the capital taxes on the 1% to near zero, as well as his own. The party of the 1% is backing their champion.

    If work at a company that sells widgets, when I earn a commission on my sales, it is called earned income. But, if work at a company that sells capital, when I earn a commission on my sales, it is called capital gains. Why is it that people can declare income as capital gains when it is not even their money that's being invested? Why is that?

    May 29, 2012 08:47 am at 8:47 am |
  7. Boo

    Only in America are people stupid enough to vote against their own interests. And those sheep on the right who are voting for Romney should all have their heads examined. By all means lets put another guy in the WH with the same disastrous policies of George Bush.

    May 29, 2012 08:48 am at 8:48 am |
  8. American

    The 1% Wall Street elites for the 1% Romney.

    Voting to preserve the American middle-class...President Obama 2012

    May 29, 2012 08:50 am at 8:50 am |
  9. Claudia, Houston, Tx

    Ryan's budget plan is backed by Wall Street because Romney backs Ryan so we will all be sold to the highest bidder on Wall Street like cattle.

    May 29, 2012 09:01 am at 9:01 am |
  10. Jules

    And the rich will get richer and the rest of us poor suckers will struggle every day to survive and care for our families.

    May 29, 2012 09:10 am at 9:10 am |
  11. Sarah /Dumfries .VA

    This tells us about Romney's life style who will vote for a rich Republican Mormon except ignorants like him from his Racist ,evil Repubican party,Obama /Biden2012 &for middle class

    May 29, 2012 09:25 am at 9:25 am |
  12. Bessy

    Anyone who expected anything different is just a dreamer. Big money depends on having a Republican in office so they can continue to " rule " the middle and lower class Ameericans. Wall Street is strickly for the 1%.

    May 29, 2012 09:25 am at 9:25 am |
  13. Sue

    Liberals have no problem with Wall Street (or anyone else) giving millions to campaigns/elections.......But only "IF" they are donating to Obama/Democrats!! Why do you think that so many Democrats are speaking out against Obama's attacks on Bain and the "fat cats"? Because they know/understand that the financial donations to their campaigns will end!! Obama thought that he was going to insult/attack the "fat cats", and use the Occupiers to do the same......And, that they were then going to donate for his reelection?? hahahahahaha.....

    May 29, 2012 09:27 am at 9:27 am |
  14. d.c

    Can't see any story here, anyone who's been following this gop drama of "the rich need more money" is not suprised at all.

    May 29, 2012 09:30 am at 9:30 am |
  15. Mario

    Keep Romney and his Tea Party out of Washington.

    May 29, 2012 09:35 am at 9:35 am |
  16. vote the Tea Party OUT in 2012

    well I wonder how Wall Street has done since Obama took office? Last I saw they were not doing too bad. CEOs are getting their big bonus money again, corporations are making record profits and sitting on trillions of dollars while not hiring, and Mitt Romney promised NOT to regulate them so we can possibly go back down the same road we did back in 2007-2008. So this is not a big shock folks.

    May 29, 2012 09:41 am at 9:41 am |
  17. Wire Palladin, S. F.

    Mittens approved of the Wall Street bail out, but opposed the bail out of the auto industry. The fat cats are paying him back for promising to give them fewer regulations so we can relive the summer of 2008 all over again.

    May 29, 2012 09:41 am at 9:41 am |
  18. Olu Franklyn

    Well this is not surprising. Wall Street will always back their own. The rest of the country will also back their own too.
    Its Wall Street versus the Rest of the Country. Lets see how it plays out.

    May 29, 2012 09:41 am at 9:41 am |
  19. ChrisM

    They, the 1%, are trying to buy this election. Dont let them

    Obama 2012

    May 29, 2012 09:47 am at 9:47 am |
  20. BLKMANinAmerica

    Well that really does give Amrican's a hugh CLUE and even with this information, President Obama will still win the 2012 election. Go Obama & Biden.

    May 29, 2012 09:52 am at 9:52 am |
  21. Bill, NY

    Hey if I were a wall street business person I would want a president who would give me a license to steal by not regulating me, and allowing me to conduct business as I see fit no matter the consequences to the "little people."

    May 29, 2012 09:59 am at 9:59 am |
  22. Len

    I agree with all of the above comments. I hope America Wakes Up because we really made a tremendous mistake in 2010! All because of the Tea Party craziness and some Americans do not want a Black man in the White House!!!

    This is all about Wall Street, big business and the rich getting richer!!!!! Wake up Middle Class and lower middle class. Do not let the 1% take over again!!! Please Wake UP!!!!!

    May 29, 2012 10:01 am at 10:01 am |
  23. enuff

    Wall street will back the candidate most likely to line their pockets with money. Runaway CEO golden parachutes and compensation, no accountabiliy on derivitivve deals gone bad means they need someone who "understands" them. who would be best for that other than mr.bain capital? That way they can hold their hands out for more taxpayer money and it will be granted without a fight. but what does it say when romney's ex-employees are donating to obama's campaign? mr. capitalist is all about personal greed.

    May 29, 2012 10:02 am at 10:02 am |