Wall Street Campaign Donations on Track to Break Record

During the 2008 United States Presidential Elections, Wall Street spent $170 million in campaign donations. This time around they look set to break that record according to the Centre for Responsive Politics (CRP) who believe they may reach $2.5 billion.

Since the financial crisis hit Wall Street, the financial sector and its influence on politicians and regulators has been widely criticised. With this news, the public scrutiny is sure to grow but despite this, the amount of money being thrown into the elections is on the rise. The American Bankers Association is even going to be setting up a non-profit which allows its members to send money anonymously.

Despite these massive campaign fund injections, politicians are still wary to be seen with bankers since the financial crisis hit. President Obama for example won’t be seen publicly with Wall Street, but that doesn’t mean he’s about to turn away their funds.

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