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Saturday, 03 March 2012 06:38

Efforts by major US banks for influencing presidential elections

Efforts by major US banks for influencing presidential elections

Normally in US elections either congressional or presidential, the candidates that have managed to raise the biggest funds prove to be the winners in ninety percent of the cases.

In the course of the 2008 presidential elections, Obama managed to receive funds twice the amount received by McCain. The Wall Street is doing the same now and major banks are after determining the results of the 2012 elections. Based on the money spent so far, Mitt Romney from the Republican Party is the person considered by Wall Street in the current year. The financial assistance by banks to Romney is four times more than the assistance made to other candidates.

The Center for Responsive Politics has recently disclosed the amount of funds received by the candidates from January to September 2011. As you can see Romney is on top of the list. It is clear that a consensus has been reached among Wall Street banks for backing Romney.


Assistance by banks to presidential candidates

Goldman Sachs Bank

Mitt Romney: $ 352,200

Barack Obama: $ 49,124

Tim Pawlenty: $ 25,000

Jon Hunsman: $ 6,750

Rick Perry: $ 5,500

Ron Paul: $ 2,500


Morgan Stanley

Mitt Romeny: $ 184,800

Tim Pawlenty: $ 41,715

Barack Obama: $ 28,225

Rick Perry: $ 20,750

Jon Hunsman: $ 9,750

Newt Gingrich: $ 1,000

Ron Paul: $ 1,000

Herman Cain: $ 500


Bank of America

Mitt Romney: $ 112,500

Barack Obama: $ 46,699

Tim Pawlenty: $ 12,750

Jon Hunsman: $ 4,250

Ron Paul: $ 3,451

Rick Perry: $ 2,600

Thad McCotter: $2,000

Herman Cain: $ 750

Michelle Bachmann: $ 500

Newt Gingrich: $ 250


JP Morgan Chase

Mitt Romney: $ 107,250

Barack Obama: $ 38,030

Rick Perry: $ 27,050

Tim Pawlenty: $ 16,750

Jon Hunsman: $ 7,500

Ron Paul: $ 5,451


Citigroup Bank

Mitt Romney: $ 56,550

Barack Obama: $ 36,887

Tim Pawlenty: $ 5,300

Rick Perry: $ 3,000

Herman Cain: $ 1,465

Michelle Bachmann: $ 1,000

Ron Paul: $ 702

As it is clear no other Republican candidate has managed to receive such a volume of assistance from Wall Street banks even close to the assistance received by Romney. In other words, Romney has managed to raise funds thirteen times more than others. The following figures indicate the financial assistance by major US banks to presidential nominees:

Mitt Romney: $ 813,300

Barack Obama: $ 198,874

Tim Pawlenty: $ 101,515

Rick Perry: $ 58,900

Jon Hunsman: $ 28,250

Ron Paul: $ 13,104

Herman Cain: $ 2,715

Michelle Bachmann: $ 1,500

Newt Gingrich: $ 1,250

A while ago in an interview with MSNBC, Dylan Ratigan touched upon investments made by the banks in the presidential elections and added that what is said about the impacts of money on politics is not something merely uttered by the media and there are certain facts in this regard. Ratigan is right in this connection because not just the Congress but the US President has also been purchased.

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