Obama beating DLC's HRC on Wall Street? Both do well on Wall Street for 2nd straight quarter

First, why are Democrats beating Republicans with strong business ties like Mitt Romney on Wall Street? What is it about Clobama that Wall Street is attracted to? Why is Obama, who is allegedly the anti-HRC and anti-DLC, beating the DLC's most prominent member on Wall Street?

Context: Last quarter Obama was Wall Street's favorite while HRC was third behind Obama and Giuliani. http://www.washingtonpost.com/wp-dyn/content/article/2007/04/17/AR2007041701688.html

==With $32.8 million in campaign contributions last quarter, Barack Obama, the Illinois senator and Democratic presidential candidate, easily surpassed his rivals in both parties. And it seems Wall Street money had something to do with it.

Employees of three big investment banks and one major hedge fund were among the leading sources of cash for Mr. Obama, according to data filed Sunday with the Federal Elections Commission. His contributors during the three-month period ended June 30 included Richard S. Fuld Jr., the chief executive of Lehman Brothers, and Kenneth C. Griffin, president of the Citadel Investment Group.

Citadel, a hedge-fund firm based in Chicago, was a wellspring of cash for Mr. Obama. In addition to the $4,600 he collected from Mr. Griffin — the maximum donation allowed from an individual — other Citadel employees donated a combined $147,550 to Mr. Obama’s campaign, according to the Associated Press.==

==Compare that with Mr. Obama’s Democratic rival, Senator Hillary Clinton of New York, who raised $27 million in the quarter. She also got donations from employees of investment banks, but not nearly as much as Mr. Obama. She received $47,850 from employees of Morgan Stanley and $44,150 from Merrill Lynch employees, for example.==

http://dealbook.blogs.nytimes.com/2007/07/16/obama-donations-show-strong-wall-st-support/

amongst small donors?

So what is your opinion on why Obama is beating the DLC's HRC, and Republicans like New York's Ghouliani and Romney, who has extensive business ties, on Wall Street? Thanks in advance. I look forward to hearing your theory on this.

appeal to donors from all walks of life and abilities to pay.

So you are saying Wall Street backs a candidate for altruistic reasons?

Wall Street does not invest in candidates for fun. The question is, what do they expect from Obama and HRC? They are beating even Romney on Wall Street, and Obama beat Giuliani as well during the first quarter. Why are Democrats out-raising Republicans on Wall Street?

Contrary to what you've heard, the people who work on Wall Street--bankers, traders, secretaries, janitors--are all American citizens and human beings. As such, they have what are known as "political opinions" as to what is good for our country.

Democrats are outraising Republicans on Wall Street and everywhere else because the Democrats are a lot better candidates and would be much better for the economy.


P.S. What is Fortress getting for the money they've sunk into Edwards?

They also have interests and the interests of Wall Street, as progressives have long noted, often diverge from the public interest. They are giving money to candidates who they feel will serve their interests.

==Democrats are outraising Republicans on Wall Street and everywhere else because the Democrats are a lot better candidates and would be much better for the economy.==

No, because the top two Democrats are corporatists that Wall Street is comfortable with. ;)

==P.S. What is Fortress getting for the money they've sunk into Edwards?==

If hedge funds were lining up behind Edwards you would have a point. Instead, it is Obama who is the darling of hedge funds (anyone seeing a pattern here?)....so why is one hedge fund the exception? Simple. People naturally prefer their co-workers. I am sure the former co-workers of HRC, BO, Richardson, Biden, et al. are supporting them too. Why? People like people that they share something in common with.

I'll be waiting for your detailed answer.

the major Wall St. firms see which way the wind is blowing and they for see a Democratic win in 08. Notice the NY firm of Morgan Stanley holding a fund raiser for HRC. John Mack, their chief, was a Ranger for Bush. He hedges his bet. If HRC becomes President, he and MS benefit. If she loses, he and MS benefit b/c she is a NY Senator. And notice Obama is getting support from Chicago based Citadel. Same win win situation.

I am not surprised that Edwards is not doing well among corporate America. They are smart. They know which candidates to invest in to get the best return... ;)