Why does goldman sachs support romney

Good Subscriber Account active since Shortcuts. Account icon An icon in the shape of a person's head and shoulders. It often indicates a user profile. Log out. US Markets Loading Some caveats: Romney barely won the Iowa caucuses and still faces much conservative skepticism about his various flirtations with big government as Massachusetts governor.

Goldman still has many committed Democrats, and Wall Street support can be fickle. Blankfein might well reverse his bet if Obama takes a commanding lead in the polls.

But with the polls fairly even, the firm so far seems to be betting big that the GOP base will conclude that Romney has the best chance of winning over independents and beating the president in November. Not that Goldman has suddenly become a hotbed of Tea Party conservatism. Experienced bundlers can reach these highest amounts quickly. Even in the era of "super" political action committees, which can pull in millions of dollars in unlimited and effectively anonymous contributions to support candidates, bundlers are their own campaign forces.

Unlike super PACs, which can't legally coordinate with candidates, bundlers raise large amounts deposited directly into a campaign's bank account — money that can be spent to pay for salaries, get-out-the-vote efforts and advertising. This presidential election is expected to be among the costliest ever.

His campaign released the names of its bundlers in late January, and the list illustrates how important these elite fundraisers have become. Fundraising has been a bright spot for Romney during the bruising GOP primary. The emphasis on top-tier donations indicates an active network of fundraisers who are targeting high-end contributors. One prominent Romney supporter, Lewis M.

Eisenberg , said that even with the rise of super PACs like Restore Our Future, which helped Romney pay for important advertising, the campaign is still dependent as ever on "hard money" that pays for salaries, state organizing, television ads, direct mailings and other expenses.

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