[ by Melanie Gretchen ] Wall Street is seeing red this year, as it shifts support in campaign donations away from the Democrat to the Republican party.  Six of the 13 corporations whose employees reversed their political contributions are financial institutions, including 4 of the top 5 (Goldman Sachs, Bank of America, Morgan Stanley, JPMorgan Chase), and the other 2, Citigroup and UBS AG. Worth Its Weight in Goldman. Four years ago, employees of the New York-based firm gave 75% of their financial backing to Democrat candidates and committees, with $1 million in campaign cash, to be the top company source of funding for Barack Obama in 2008.  This year, Republicans are enjoying 70% of their contributions, to be the biggest source of donations to Mitt Romney with a donation of $636,080. That amount is considerably less than what President Obama received, but the effect quickly adds up.  Among the 6 financial institutions, the bulk of the contributions went to Mitt Romney's presidential campaign and the joint fundraising committee set up with the Republican National Committee.  Similarly, of the 10 companies whose employees gave the most money to Romney Victory, 9 were Wall Street firms, according to Bloomberg's analysis of Federal Election Commission data.

"Wall Street fell in love with Obama in 2008.  It had more to do with the heart than the head.  And love affairs, at least of the political variety, usually end in disappointment or disillusion.  So Wall Street has now returned to its own reality – as well as one of its own." -- Stephen Hess, a professor of media and public affairs at George Washington University in Washington.

A Changing Tide. Craig Holman, a lobbyist for the Washington-based advocacy group Public Citizen, was less romantic.  He attributed the change in course to anger "at the Obama administration and the Democrats for their new regulatory policies."

"This is ideological giving.  These companies are investing heavily against Obama in 2012.  As Bain CEO, Romney hired Goldman bankers to underwrite Bain-managed IPOs, and Goldman investment managers supervise tens of millions of dollars of Romney's personal wealth.  That type of close personal link to a particular industry or company has aided presidential candidates in the past and is paying off handsomely for Romney now."

For further details, go to [Bloomberg, 9/9/12].