What's worse from Wall Street's perspective is that the candidates it least supports have been dominant on the campaign trail, and scored dramatic wins in the New Hampshire primary this week. Democrat Bernie Sanders received just $55,226 from the securities and investment industry, while billionaire Donald Trump, who is largely self-financing his campaign, has received just $11,900.
All that means Wall Street's traditional strength in presidential politics — cold, hard, cash — is proving less effective than ever in 2016. Not only that, the financial power of Wall Street does not seem to be able to counteract the political damage that a perceived close association with Wall Street can have on a presidential campaign. According to the center, the securities and investment industry is the number one group giving money to the overall Clinton effort this year, including the campaign and assorted super PACs that support her. On the campaign trail, Clinton has been fending off insinuations from Sanders that she is too close to Wall Street, and denying that campaign contributions and paid speaking fees from Wall Street have influenced her positions on the industry.
Even on the Republican side, in a party traditionally more comfortable with Wall Street, one of the TV ads airing in New Hampshire before the primary bashed Ohio Gov. John Kasich for his connections to the financial industry, including his time working at Lehman Brothers.