On Wall St, time to mend fences with Obama
The next morning was a cold, sobering one for these executives. Few industries have made such a one-sided bet as Wall Street did in opposing US President Barack Obama and supporting his Republican rival. The top five sources of contributions to Romney, a former top private equity executive, were big banks like Goldman Sachs and JPMorgan Chase, according to the Center for Responsive Politics. Wealthy financiers — led by hedge fund investors — were the biggest group of givers to the main “super PAC” backing Romney, providing almost $33 million, and gave generously to outside groups in races around the country.
On Wednesday, Loeb, who had supported Obama in 2008, was sanguine. “You win some, you lose some,” he said in an interview. “We can all disagree. I have friends and we have spirited discussions. Sure, I am not getting invited to the White House anytime soon, but as citizens of the country we are all friendly.”
Wall Street, however, now has to come to terms with an administration it has vilified. What Washington does next will be important for the industry, as regulatory agencies work to put their
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