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The Hill Managing Editor Bob Cusack on how Wall Street bankers will vote in the Presidential election.
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Hello my feet plus probable loss is speaking up loud and clear the finance guys -- switching teams are donating more more to Romney.
Our president despite his numerous -- celebrity fund raisers here to crunch the numbers is Bob Cusack and help spot thanks for joining us.
-- friend me on so this will -- -- isn't I mean has eight L a lot of people would expect Wall Street people to be behind the Republican side and Mitt Romney you know lower taxes less regulation.
-- around they loved Barack Obama what happened.
They did a lot of -- Wall Street executives from private equity firms and banks and they have switch sides and we looked at dozens of donors who gave the President Obama in 200867.
Of them.
And only three of them -- since given to President Obama bailouts that has given to Mitt Romney so we talked lot of those executives and they said not speaking for retribution but I'm back back very disappointed with that the president also remember a President Obama has pushed Wall Street reform he's gone after.
Bain Capital Mitt Romney's record they have not like that he also called Wall Street bonuses shameful so.
They took that personally.
Did this sense of these are people that.
-- Democrats -- -- originally for a Democrat and that got burned and switch teams -- these people that are just strictly giving money to the person that they think is going to help them the most.
Regardless they don't care about party they don't care -- anything else they just want help.
What's your what losses.
I get that and it's it's all the above is that you have some Democrats -- hardcore Democrats who have given to Romney but for the most part a lot of these guys also.
-- they'll they'll give to both sides stick to hedge their bets that's what Wall Street is famous it sure but but certainly a number of them are not going to give to President Obama this time around.
Because of is tough rhetoric.
On them so it's it's a combination of all them but but when you talk to these executives a lot -- just say again and again they've been disappointed.
-- -- and how he is targeted them.
Now I'm looking at some of the -- when I look at you know JPMorgan and its about -- to you know 45 -- one the ratio of how much money was given to Mitt Romney.
Vs -- -- -- is -- with Goldman Sachs you know almost 600000 dollars Mitt Romney 577.
Vs 91 to Barack Obama has this ratio picked up recently.
You know as the president seems to have.
Falling further behind in the polls or as it's gotten you know more neck and neck depending on what -- you're looking at or has this been the trend all along.
I think the trend started in 2011 he certainly when the presidential race is heating up that a lot of these executives were starting to -- to change their minds and.
You know that -- this the funny thing years the economy has not done well under President Obama and some blame president George W.
Bush for that but actually stock market has done decently.
But a lot of people on Wall Street think.
That the stock market could do a lot better.
Under Mitt Romney and that's why they're putting their money behind him is -- just a function you know he's a finance -- so they're going for the finance guys straight and -- -- and you hear a lot of a lot of the same business argument see here is that.
-- he's gonna cut down on regulations that's gonna help the market.
Now some of that conventional wisdom as as proven to be wrong over the years sure that's their thinking is that if they get Mitt Romney in -- the economy's gonna get better and and and the markets -- better.
Okay listing date -- I intersect thanks for joining us bringing -- test -- reporting thank you.
