Obama starting to lose the backing of business people
Tuesday, May 29, 2012 1:56 PM
New data published by the Center for Responsive Politics shows that President Barack Obama is losing ground in fund raising among business people, specifically in the area of finance.
In April, Mitt Romney, the presumptive Republican presidential nominee, raised $8.5 million from donors employed in the field of securities and investments. Obama only raised only $3 million from the same group.
Previously, the Center reported, Obama outraised Republican candidates in this area. In 2008, Sen. John McCain raised $9 million from securities and investments employees and Obama raised $16 million. Historically, employees at Goldman Sachs Group Inc. donated the most money to Democrats, but now they have donated the most money to Republicans compared with any other firm.
Although Obama has enacted fewer regulatory rules than his predecessor, George W. Bush, according to Bloomberg, his rhetoric about income inequality and fixing a "broken" Wall Street may be taking a toll on his relationship with investors.