This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
$1 buys you full access to ALL of TheStreet's Subscription Services! Learn More

Democrats Still Winning Over Wall Street

We already know that Republican presidential candidates have so far raised a lot less money overall than their Democratic counterparts. What is really remarkable: This is true even in industries where you would expect the Republicans to enjoy big advantages.

Instead, the GOP, once the party of Wall Street, is losing Wall Street. The party that once dominated business ... doesn't.

Through the end of September, Democratic presidential candidates outraised their Republican rivals at securities and investment companies by nearly $2 million, $10.7 million to $8.75 million, according to OpenSecrets.org, a Web site that aggregates data from the Federal Elections Commission.

That's a 56% to 44% advantage.

By comparison, in 1996 Wall Street gave 58% of its money to Republicans.

So far this time, Democrats also have outraised Republicans among hedge funds and private-equity tycoons by a similar margin, raising about $2.7 million compared with $2.1 million.

This was so even though Democrats have taken the lead in pushing for changes in the tax law to close a loophole benefiting hedge-fund and private-equity managers.

The Democratic candidates also grabbed 60% of contributions from the ultraconservative insurance industry -- a sharp reversal of the usual situation, where about two-thirds of the dollars go to Republicans.

The Democrats are even seeing slight majorities in traditional GOP strongholds like commercial banking and real estate.

When commercial bankers split slightly to the Democrats, you know the GOP is on its back foot. Imagine if the Democrats were losing the support of bedrock loyalist groups like public school teachers, trial lawyers or municipal unions.

1 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,814.94 -2.96 -0.02%
S&P 500 2,067.03 -2.38 -0.12%
NASDAQ 4,758.2520 +3.36 0.07%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs