Hedge fund owners and employees have so far this election cycle contributed nearly $48.5 million for Hillary Clinton, compared to about $19,000 for Donald Trump, an indication that Wall Street is clearly backing the Democratic presidential nominee.
The total amount of such campaign contributions in 2016 is $122.7 million, twice as much as in the 2012 election cycle, according to a recent federal report analyzed by the nonpartisan Center for Responsive Politics.
With the Democratic and Republican parties’ conventions over Thursday and the general election officially just a few days old, it’s no surprise that pro-Clinton groups have received more hedge fund money.
For nearly six months, Clinton primary rival Sen. Bernie Sanders railed against “big money” in politics and vowed to “reform” Wall Street, with an insurgent campaign that relied largely on small-dollar contributions.
“With a political campaign finance system that is corrupt and increasingly controlled by billionaires and special interests, I fear very much that … government … is beginning to perish in the United States of America,” Sanders said. “We cannot allow that to happen.”
In addition, Clinton, a former secretary of state and New York senator, has clear ties to Wall Street, with critics repeatedly pointing out that in recent years she has received $21 million in speaking fees from Goldman Sachs and other Wall Street firms.
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