2012 Election: How Influential is Wall Street?

By:  Raven Clabough
10/19/2011
       
2012 Election: How Influential is Wall Street?

As the Occupy Wall Street protests have gained momentum over the last few weeks, many have pointed out that the protesters' anger is directed at the wrong people. Critics of the movement, while understanding the frustration of the demonstrators, contend that their focus should be on a number of other sources: the Federal Reserve, for instance, and also the elected officials who continue to support government intervention in the free market and to pick and choose winners via regulations and the “too big to fail” philosophy.

Meanwhile, Wall Street is already gearing up to buy off another round of elected officials, solidifying the very collusion between Wall Street and the federal government that has both Occupy Wall Street protesters and their critics concerned.

The Center for Responsive Politics recently posted data regarding the financial contributions of Wall Street firms to each presidential contender’s campaign for the 2012 elections.

According to the data, Mitt Romney has received the most donations from Goldman Sachs — nearly $400,000 to date. The next closest is President Obama with $49,000, followed by Tim Pawlenty, Jon Huntsman, Rick Perry, and Ron Paul, the latter of whom received just $2,500 from the company.

As the Occupy Wall Street protests have gained momentum over the last few weeks, many have pointed out that the protesters' anger is directed at the wrong people. Critics of the movement, while understanding the frustration of the demonstrators, contend that their focus should be on a number of other sources: the Federal Reserve, for instance, and also the elected officials who continue to support government intervention in the free market and to pick and choose winners via regulations and the “too big to fail” philosophy.

Meanwhile, Wall Street is already gearing up to buy off another round of elected officials, solidifying the very collusion between Wall Street and the federal government that has both Occupy Wall Street protesters and their critics concerned.

The Center for Responsive Politics recently posted data regarding the financial contributions of Wall Street firms to each presidential contender’s campaign for the 2012 elections.

According to the data, Mitt Romney (pictured) has received the most donations from Goldman Sachs — nearly $400,000 to date. The next closest is President Obama with $49,000, followed by Tim Pawlenty, Jon Huntsman, Rick Perry, and Ron Paul, the latter of whom received just $2,500 from the company.

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