Goldman Sachs Leads Split With Obama, as GE Jilts Him Too

[NeoConsSuck]

Source: Bloomberg.com

Goldman Sachs Group (GS) employees have changed to red from blue. Four years ago, employees of New York-based Goldman gave three-fourths of their campaign donations to Democratic candidates and committees, including presidential nominee Barack Obama. This time, they’re showering 70 percent of their contributions on Republicans.

That’s the biggest switch among the 25 companies whose employees have given the most to candidates and parties since 1989, according to data through June 30 compiled by Bloomberg from the Center for Responsive Politics, a Washington-based research group that tracks campaign donations. Goldman isn’t alone; 13 of the companies’ employees are now giving more to Republicans after backing Democrats four years ago.

“A switch in party preference of this magnitude is virtually unheard of among major companies with an established presence in Washington,” said Rogan Kersh, provost at Wake Forest University in Winston-Salem, North Carolina.

Employees of General Electric Co. (GE) are giving 63 percent of their contributions to Republicans this year, almost a mirror image of their distribution in 2008 when Democrats received 66 percent of their donations.



Read more: http://www.bloomberg.com/news/2012-08-09/goldman-sachs-leads-split-with-obama-as-ge-jilts-him-too.html

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When you win Obama, remember who your friends were. They were middle and lower class voters, not corporate America. Please keep that in mind during your second term.

[Old and In the Way]

1. Writing must be Mon the wall..... nt

[Lionessa]

2. Good. Then I'll trust he'll be less beholden to them. That's a good thing.

I actually believe Obama is going to win, and by a comfortable margin. Unfortunately that'll mean that the Citizens United didn't effect the outcome, but the good news is that Obama won't be going for re-election or be as beholden as he sort of seemed to be with the past campaign contributions.

[Dkc05]

10. Need to tax the crap out of them. Audit them and get the billions they hid from the IRS

President Obama should have the IRS audit them and get them to pay their fair share in taxes. GE should be nationalized if they are found to be avoiding taxes. They make their money off the backs of hard working Americans. Then they don't pay taxes? Their executives need to be paid what the common employee gets paid. enough is enough. We need fix this in the next term.

[adigal]

17. Put the bastards in jail, where they belong

Maybe that is what they are afraid of in obamas second term?

[Jakes Progress]

13. So you think

that he was beholden to them and ran the administration for their benefit because they gave him a bunch of money? Doesn't sound very statesmanlike. Kinda like a petty politician whose favors are for sale.

[Dkc05]

20. they pay us 14 an hour while the make millions

That's not to fair.

[Comrade_McKenzie]

21. I do, yes. It's all part of the game. Obama is not above it. nt

[BeyondGeography]

3. "Nowhere is the change in financial fortunes more pronounced than on Wall Street."

Meantime, bank stocks are permanently in the shitter and Sandy Weill says, ya know, that whole Glass-Steagall thing, let's bring it back.

Yeah, they know what's best.

[Ed Suspicious]

4. Couldn't be a better endorsement of my candidate as far as I'm concerned. n/t

[Bossy Monkey]

5. Note to Bloomberg.com: Think you might want to check which party's red and which is blue n/t

[still_one]

11. Bloomberg has endorsed mittens, and brown in Mass. Wouldn't expect anything less from that twit who

Finds no problem changing the cities laws so he could run again for mayor

I am totally unimpressed by Bloomberg, though I will say his network reporting of the news is more balanced than the others, but still gives more air time to rethugs than Democrats

[truthisfreedom]

15. My thoughts exactly!

[railsback]

6. Romney must have promised them the moon and the stars

Endless government contracts and no taxes.

[Jakes Progress]

23. They got the moon and stars

during this administration. Now they want more. More the fool for the Democratic party for kowtowing to them thinking they would be loyal just because we staffed the cabinet with their guys.

[railsback]

25. I don't think Obama really had any choice

GS and GE are so intertwined in our economics, both nationally and internationally, that throttling the the Great Republican Recession required some 'looking the other way' until the rapid decent was reversed. A second term president doesn't have to answer to anyone, since there's no need to campaign for another 4 years to stay in office, so of course, the big corps are going for Romney.

Kevin Costner is right. Presidents should only serve one term so they work for US, not for getting re-elected.

[Jakes Progress]

33. There is no reversal

as long as there is no throttling. It is a republican meme that allowing big corps to go unfettered is good for the economy.

Hey. I know the republicans are crap. Been voting against them for over forty years. I'm just bummed that our party has become what the republicans were twenty years ago. I was against what republicans were doing then. And I'm against the same thing when elected officials with a D by their name do the same thing.

Historical perspective is a bummer.

[still_one]

7. I wonder if the American public trust wall street firms? This actually might be an plus for us. I

Suspect those who do not trust wall street, which I think includes most independents, will come to the correct conclusion that the reason these companies are supporting Romney is because they want to get away with screwing the public

[Amonester]

8. Yes. Send it to barackobama.com!

http://www.barackobama.com

Contact us link is down the homepage under Campaign.

[sabrina 1]

9. Good, and he should use this in his favor. This will make a lot of people feel a lot better about

him.

Romney is now stuck with the hated Corporate label.

Wall Street Loves Romney, Main Street Loves Obama.

He owes them nothing now. Democrats should make Corporate Money poison in this election, because it is.

[Liberal_Stalwart71]

28. And, from top to bottom, they should get rid of the corporatists in the party.

The Democratic Leadership Council has done more damage to the Democratic Party brand that any Republican or Teabagger ever could.

[banned from Kos]

12. That $500 million fine from Obama may have something to do with this

Good then.

[dipsydoodle]

14. middle and lower class voters ?

Article states "Employees of General Electric Co. (GE) are giving 63 percent of their contributions" Are you saying GE doesn't employ any middle and lower class voters. Doesn't sound right somehow.

[Canadian 2]

16. Goldman Sucks

[lunatica]

18. If they invest and play the Stock Market betting on sure losers like Romney over Obama

no wonder we're so fucked up economically.

[bemildred]

19. Seems like a lousy "investment". nt

[mwooldri]

22. I think these Goldman Sachs guys...

... instead of giving money to Mitt the Twit should find the nearest bathroom, put their cash in the toilet and press flush repeatedly.

Along with the other guys who decided to do the same.

But it is possible there is a long term view here. A gamble that the Democrats will screw up royally after 2012 and that the Republicans will come back into power. The economy *will* improve soon, jobs *will* come back, and with the Republicans putting foot in mouth repeatedly....

[judesedit]

24. Of course. They don't want to have to pay taxes like the rest of us. Corporate greed at its best

Remember....corporations are people????? So UNpatriotic it stifles the imagination. Pretty sorry-assed shareholders. They're probably all foreigners.

[leveymg]

26. They already got more than their money's worth last time.

Go to Jail.

[Liberal_Stalwart71]

27. Cornel West: Obama is in bed with Wall Street; Harry Belafonte: He has no moral compass...

Faux News and Corporate Media: He's in bed with Goldman Sachs...

If all these charges were true, and Obama cozies up to Wall Street, then shouldn't Wall Street return the favor?

The bottom line is that these charges were NEVER true to begin with. People are angry at Obama because they thought he should've done more to go after Wall Street. Please! People are so naive. Like the president was going to get this Congress, this Corporate Media to go after Wall Street!! pfff...

Naive indeed!

[Hydra]

29. This is just their greed getting the better of them

They don't know how to say "Thank You" to the person who saved their asses. The only word they know is "MORE!!!"

President Obama could have and should have broken up their companies and put them in jail. Instead he gave them the barest slaps on the wrist in each case, and they STILL complained.

I guess getting 99% of what they want + a fig leaf isn't good enough.

[FiveGoodMen]

30. "THIS" congress was majority Dem in both houses for two years.

And nothing good happened.

[Liberal_Stalwart71]

32. So, blame the Democrats in Congress who did nothing.

[FiveGoodMen]

34. I certainly do

However, Obama had much better chances in his first two years and appeared not to WANT to capitalize on them.

Rather, he seemed to want to lean over and give the other side what they wanted.

[Myrina]

31. It's just a pretend break up, for appearance's sake ...

... they'll be besties again as soon as the Inauguration is over and they need some favorable legislation or a bail out ...