One-third of the Obama re-election campaign’s record-breaking second-quarter fundraising came from sources associated with the financial sector, the Washington Post reports.
That percentage is up from the 20% of donations that came from Wall Street donors in 2008, and contradicts reports that a growing Wall Street animosity towards the Obama administration may jeopardize his re-election bid.
Obama’s $86 million haul set a record for incumbent fundraising at this point in an election campaign. While the campaign has downplayed the larger donations by emphasising that the average donation was $69, it also released a list of contributions by “bundlers;” those who can “bundle” more than $50,000 in contributions from friends, relatives and business associates.
Of the 244 Obama campaign “bundlers,” 80 work in finance, insurance, and real estate. Politico’s Byron Tau and Ben Smith report today that many of the Obama bundlers have official business before the U.S. government.
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