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WSJ: Goldman Sachs Employees Throw Support Behind Romney

Tuesday, 09 Oct 2012 11:01 AM

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Goldman Sachs employees, who backed Barack Obama during the 2008 presidential race, are now throwing their support behind GOP nominee Mitt Romney, The Wall Street Journal reported.

Goldman Sachs employees donated more than $1 million to Obama when he first ran for president four years ago, though this time around, they have given the president’s campaign $136,000 — less than Obama has collected from employees of the State Department, according to The Journal.

Many cite regulations on the financial sector to even perceived personal attacks on bankers stemming from the White House, including the president’s use of the term “fat cat bankers” to describe Wall Street workers.

Editor's Note: You Deserve to Know What Obama and Bernanke Are Hiding From Americans

“Look at what he did — he attacked those guys and made it personal,” said Rick Hohlt, a financial-services lobbyist, The Journal reported.

“In the old days you give money because you want to have a seat at the table even if you get screwed. But they weren’t even offering a seat at the table.”

The newspaper also found that Goldman Sachs employees have given the Romney campaign $900,000, plus another $900,000 to the super PAC founded to help the Republican challenger.

Goldman Sachs employees haven’t given anything to Democratic super PAC organizations.

“As a longtime friend to Mitt and Ann, I can attest that his conviction and strength on fixing the U.S. economy is compelling as are his values,” said Jim Donovan, formerly in charge of Goldman Sachs’ relations with Bain & Co., the private-equity firm run by Romney.

“That is why there has been such a strong outpouring of support for Mitt from all sectors.”

The bank, meanwhile, is quick to point out that employees are free to donate on their own.

“Donations are made by individual employees according to their own views,” a bank spokesman told the newspaper.

The Obama campaign raised $181 million in September, just shy of a monthly record the Obama and Democrats set in September of 2008, when they rose $193 million, according to Yahoo.

Separately, some say Obama’s use of online donations and grass roots campaigning opens the doors to foreign donors.

“Campaigns that aggressively raise money online are soliciting donations from people around the world-whether they intend to or not,” writes Government Accountability Institute president Peter Schweizer and Newsweek reporter Peter Boyer in a post on the report at Newsweek/Daily Beast.

“People repost campaign solicitations on blogs that send them sprawling around the globe like digital kudzu.”

Editor's Note: You Deserve to Know What Obama and Bernanke Are Hiding From Americans

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