Wednesday, June 13, 2012

Romney routs Obama on Wall Street


Abby Phillip and Ken Vogel report that Mitt Romney and his allies have scored $37.1 million in donations from Wall Street, while Barack Obama and his allies have picked up just $4.8 million.

Most interesting -- the continued migration of old Obama donors.

Near the front of the pack are 19 Obama donors from 2008 who are giving big to Romney.

The 19 have already given $4.8 million to Romney’s presidential campaign and the super PAC supporting it through the end of April, according to a POLITICO analysis of Federal Election Commission filings. Four years ago, they gave Obama $213,700.

None of them has given a penny to the president’s reelection campaign or the super PAC supporting it.

We've seen two types of donor stories this cycle -- both bad for Obama.

The first (like this BuzzFeed report from earlier this month) measures broad Obama depression among disillusioned activists.

That's significant because it's not just a monetary loss, but also a loss of enthusiasm. Having said that, it's still a marriage, albeit a passionless one. These activists will vote for Obama, but they might not give money or volunteer.

The second donor story (like this one) is about the monied and powerful. Not only are they disillusioned with Obama, but they're actually getting out of the marriage and shacking up with Romney.

In terms of raw votes, it's not that significant, but in terms of finances that can help produce the raw votes, well, then it's big.