JPMorgan Employees Join Goldman Sachs Among Top Obama Donors
By Jonathan D. Salant - Mar 21, 2012 12:01 AM
President Barack Obama’s largest campaign donors last month included employees of Wells Fargo & Co., (WFC) JPMorgan Chase & Co. (JPM) and Goldman Sachs Group Inc. (GS), according to an analysis of Federal Election Commission records.
Their support indicates that Wall Street, which gave Obama $16 million for his successful 2008 White House run, is opening its checkbook again for the president. The contributions helped Obama raise $21 million in February, including $6.5 million transferred from a joint fundraising committee with the Democratic National Committee.
“The reality is the election has evolved from being Obama versus Obama to Obama versus a Republican alternative,” said Robert Zimmerman, a Democratic National Committee member and Obama fundraiser. “Now that contributors, party activists and citizens are seeing the choice, you’re seeing more support emerge for Barack Obama.”
Obama has raised $161 million for his re-election and entered March with $84.7 million in the bank. Four years ago, engaged in a primary battle with Hillary Clinton for the Democratic nomination, he had raised $197 million by the end of February and had close to $40 million in cash.
The incumbent has raised twice as much as Republican front- runner Mitt Romney, who has brought in $75.6 million, including $12 million last month. Obama’s campaign bank account entering March was more than 11 times greater than Romney’s.
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