Wall Street does not donate to Barack Obama like it used to, and this striking month-by-month comparison chart from Center for Responsive Politics shows just how much its fallen out of love with the president since the last election. CRP is a non-partisan group that aims to track where money goes in politics. The green line represents donations from 2007-2008, and the blue line represents this year's election. While Obama saw dips in Wall Street donations throughout the 2008 election season, he also saw far greater influxes of cash, particularly closer to Election Day. This time last year, the industry had given Obama $14.5 million, compared to this year's $5.5 million.
Wall Street versus Obama has been a running theme, and it's been about more than politics. The CRP blames Obama's regulation of the financial industry via the Dodd-Frank Act and readiness to implicate Wall Street in economic problems. In March, The New Republic's Alec MacGillis wrote that hedge fund managers turned against Obama because the president had gone from rhetoric of moving forward and forgetting history to painting "a story in which [bankers] were the bad guys." And earlier this fall, bankers expressed disappointment to Gayle Tzemach Lemmon about the "us versus them" narrative Obama was adopting, too.
Instead, money has been going to Romney, who has raised $18.3 million from Wall Street, presumably because his business rhetoric has been less mean.
Chart by Center for Responsive Politics
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