As I listened to a clueless Rachel Maddow chastize Mitt Romney for having said that Wall Street is connected to Main Street (as if he meant that literally), I couldn’t help remember where Wall Street is actually connected. To Obama’s re-election. That’s right, most of the donations from Wall Street are going toward keeping Obama in the Oval Office. Can that be true? To quote campaign headquarters, “yes it can.”
The president even out-raised Mitt Romney at Bain Capital, a private equity firm in Boston the former Massachusetts governor co-founded. Romney pulled in $34,000 from 18 Bain employees while Obama took in $76,600 from three Bain employees, the Post found in its review of data from the Center for Responsive Politics.
Obama’s fundraising benefits from his raising money not only for himself but also for the Democratic National Committee, which then contributes to his re-election effort. From UPI:
Apart from the nearly $12 million he helped raise for the DNC, Obama has raised $3.9 million from the finance sector for his own campaign committee, compared with Romney’s $7.5 million and nearly $2 million by Texas Gov. Rick Perry. No other GOP candidate surpassed $400,000 from the finance sector, the Post said.