WALL STREET CONTRIBUTES HEAVILY TO OBAMA AND ROMNEY..

Obama signed into law the most sweeping overhaul of the U.S. financial system since the Great Depression, support for his re-election among some Wall Street elites remains strong.

Romney is against the law and reaped contributions from the rank and file of Goldman Sachs. The findings contrast with an erosion of support for Obama among employees of Goldman Sachs, who were once among his top financial backers. They donated overwhelmingly to Republican presidential candidate Mitt Romney in the second quarter, a computer-assisted analysis of the FEC data by Bloomberg found.

Some financial sector employees have been rankled by the 2010 financial overhaul because it imposed stiff new rules on banks, added regulation of hedge fund managers and limits on some executives’ bonuses, among other things. Romney opposes the law.

Eighty wealthy and well-connected volunteer fundraisers, or bundlers, from the financial sector have together raised at least $11.8 million for Obama’s re-election campaign, according to an analysis of Federal Election Commission data by the Center for Responsive Politics, a nonpartisan government watchdog.

Individuals working in finance, insurance or real estate markets contributed roughly one-third of all money raised by Obama’s 244 bundlers –- more than any other industry –- the Center found.

Source: ABC News

Bloomberg

Open Secrets