Back in 2008, financial services companies, Goldman Sachs in particular, loved the Democrat Party and then-Senator Barack Obama.
“[E]mployees of New York-based Goldman gave three-fourths of their campaign donations to Democratic candidates and committees, including presidential nominee Barack Obama,”Bloomberg reports.
But then something happened. He got elected.
After the 2008 presidential election, members of the financial community were no longer valued donors but were instead “fat cats” who don’t pay their “fair share” or “play by the rules.” And then the White House condoned and coddled that whole “Let’s Destroy Capitalism” Occupy Wall Streetthing.
What we’re trying to say is that members of the financial community, Goldman employees in particular, seem a little sore with Team Obama. So much so, in fact, that the Obama campaign hasrepeatedly tried to convince Wall Street that they’re not out to get them.
Apparently, it’s not working: Goldman employees are “showering 70 percent of their contributions on Republicans.”
“The company’s employees gave $6.1 million in 2008, 75 percent to Democrats,” Bloombergreports. “This year, Goldman employees have given $4.9 million, also more than anyone else, with70 percent going to Republicans [emphasis added].”
“That’s the biggest switch among the 25 companies whose employees have given the most to candidates and parties since 1989,” the report adds.
But is this change in the financial sector all that noticeable?
“Six of the 13 corporations whose employees reversed their political giving are financial institutions, including four of the top five. They are: Goldman, Bank of America Corp., Morgan Stanley (MS) and JPMorgan Chase & Co. (JPM) The other two are Citigroup Inc. (C) and UBS AG. (UBSN),” Bloomberg reports.