Wall Street bankers are donating more cash to GOP presidential hopeful Mitt Romney's campaign than they are to President Barack Obama's, the New York Times reports.
The difference may reflect disenchantment with the incumbent's regulations applied to Wall Street firms as well as to Romney's efforts to woo them to his side.
Since this spring, Romney has raised $1.5 million from employees at firms like Morgan Stanley, Highbridge Capital Management, a hedge fund, and private equity firm Blackstone, while Obama has raised just over $270,000.
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Goldman Sachs employees have given Obama $45,000 compared to $350,000 to Romney.
Obama's camp admit Romney's popularity among the investment community.
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President Barack Obama
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"There’s no doubt that Governor Romney has raised money off of his belief that Wall Street should be allowed to write its own rules again by repealing Wall Street reform," says Ben LaBolt, an Obama campaign spokesman, the Times reports.
While Romney faces stiff competition from Herman Cain, Rick Perry and others for the GOP nomination, Obama backers are quietly concluding that Romney will serve as the rival party's candidate.
"While he may well end up the nominee, it is only because their voters will have exhausted all other options," former White House spokesman and Obama supporter Bill Burton writes in a media memorandum, according to the Boston Globe.
"Rick Perry’s sudden decline and Herman Cain’s concurrent surge reinforce an important point about the primary: Republican voters are still desperately shopping for an alternative to Romney."
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