Goldman Sachs, which was the No. 1 corporate donor to Obama’s campaign in 2008, has ditched the president for Mitt Romney, The Wall Street Journal’s Liz Rappaport and Brody Mullins report.
Four years ago, Goldman employees and execs gave more than a $1 million to Obama’s campaign.
This year, they have contributed a paltry $136,000, the report said citing campaign finance data from the centre for Responsive Politics.
What’s more is Goldmanites haven’t donated anything to the leading Democratic super PAC supporting Obama’s re-election, according to the report.
Now, Goldman employees are the top donors to Romney and the Republican Party. So far, they have donated $900,000 to Romney’s campaign and $900,000 to the super PAC supporting him.
Some reasons for switching sides include increased regulations on the financial services industry and Obama’s populist rhetoric such referring to Wall Streeters as “fat cat bankers,” the report said.