(Reuters) - The captains of Wall Street have picked a presidential candidate for 2012 and it is Republican Mitt Romney, rather than Democratic President Barack Obama, campaign donation records show.
The records released Tuesday by the Federal Election Commission illustrate a basic shift in political giving at the presidential level by the nation's financial elite.
After a fling with Obama - the charismatic Democrat embraced four years ago during the severe credit crisis that erupted under President George W. Bush - Wall Street is backing Romney in a return to its largely Republican inclinations.
Romney's six largest campaign contribution sources in 2011 were executives, family members and affiliated political action committees of Goldman Sachs, JPMorgan Chase, Morgan Stanley, Credit Suisse, Citigroup and Bank of America, according to the Center for Responsive Politics, a Washington, D.C.-based group that monitors campaign finances.
The center said that the leaders of the six Wall Street giants -- which were rescued from ruin by U.S. taxpayers about three years ago -- have given $1.8 million to the Romney campaign.
As for Obama, Goldman Sachs was the sole major financial firm ranked among his top 20 contribution sources for 2011, with gifts of just $64,000 compared with $496,000 to Romney.
Analysis: Wall St. cash flows to Romney over Obama | Reuters
The records released Tuesday by the Federal Election Commission illustrate a basic shift in political giving at the presidential level by the nation's financial elite.
After a fling with Obama - the charismatic Democrat embraced four years ago during the severe credit crisis that erupted under President George W. Bush - Wall Street is backing Romney in a return to its largely Republican inclinations.
Romney's six largest campaign contribution sources in 2011 were executives, family members and affiliated political action committees of Goldman Sachs, JPMorgan Chase, Morgan Stanley, Credit Suisse, Citigroup and Bank of America, according to the Center for Responsive Politics, a Washington, D.C.-based group that monitors campaign finances.
The center said that the leaders of the six Wall Street giants -- which were rescued from ruin by U.S. taxpayers about three years ago -- have given $1.8 million to the Romney campaign.
As for Obama, Goldman Sachs was the sole major financial firm ranked among his top 20 contribution sources for 2011, with gifts of just $64,000 compared with $496,000 to Romney.
Analysis: Wall St. cash flows to Romney over Obama | Reuters