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Wall Street money backing Bush, Clinton

Friday, October 16, 2015 - 01:29

Jeb Bush isn't the leading Republican candidate but recent campaign finance data shows he and Hillary Clinton are Wall Street favorites. Jeanne Yurman reports.

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Presidential candidate Jeb Bush may lag in the polls. But he's the front-runner on Wall Street. Fresh data shows employees from major banks gave Bush $107,000 in the third quarter. Wall Street is throwing its cash at the moderate Republican, seeking stability and predictability says University of Virginia Professor, Larry Sabato. SOUNDBITE: LARRY SABATO, PROFESSOR OF POLITICS, UNIVERSITY OF VIRGINIA, (ENGLISH) SAYING: "The Bushes have had 12 years in the White House. Wall Street pretty much knows what to expect from a Bush and with a Bush you get a lot of people who've already served in the other Bush administrations. They're already known to Wall Street." Hillary Clinton is the Street's second favorite, taking in $84,000. She and Bush far outpacing rivals. Clinton, the leading Democratic candidate, is also a known entity and a hedge. While Wall Street favors Republicans, its money often follows the polls. Historically, candidates can't win the White House without Wall Street support, says Center for Responsive Politics' Sheila Krumholz. SOUNDBITE: SHEILA KRUMHOLZ, EXECUTIVE DIRECTOR, CENTER FOR RESPONSIVE POLITICS (ENGLISH) SAYING: "The financial insurance and real estate sector broadly is the number one source of campaign cash this cycle and over time. So you know time and time again they are the go-to place for fundraising among politicians." How money flows can still change. In 2008 Democrats led by Obama, narrowly beat out Republicans for Wall Street donations.

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Wall Street money backing Bush, Clinton

Friday, October 16, 2015 - 01:29