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Wall Street supports Bush, Clinton for sake of stability

Friday, October 16, 2015 - 03:38

Wall Street employees are donating to Bush and Clinton's presidential campaigns as they seek stability and predictability says Larry Sabato.

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Of the nearly twenty presidential candidates out there new data shows that to have garnered clear support from Wall Street Jeb Bush and Hillary Clinton. Joining us to discuss why they're getting early support from the financial industry. Is Larry Sutton though professor of politics at the University of Virginia he's also the director of the center for politics primary. Story today. Great nice to see you well. The latest campaign finance data shows that employees from eight major banks like JPMorgan Chase Citigroup Goldman Sachs and others. Gave a total 107000. Dollars to bush and 84000. Hillary in the third quarter. No other candidate came close. So first. What do you make of bush getting so much support despite trailing Donald Trump and Carson Carly Fiorina in major polls. Wall Street favors a bowl hall stability and predictability. And obviously Jeb Bush would be their candidate is their candidate they lean Republican anyway and now the Republican candidates. Who could best supply stability and predictability. Well probably the son of a former president of the brother of one who served two terms in the bushes and had twelve years in the White House. Wall Street pretty much knows what to expect from the bush and with the bush you get a lot of people who already served. In the other bush administration's they're already known to Wall Street so that's a big bonus. OK and I guess that that kind of plays into my second question. Which is that you know it's a little surprising that Marco Rubio. Has said that he would repeal a lot of the financial or the regulations that have been slapped on the financial industry. And yet he didn't get a lot of support so I guess it's that stability that Wall Street after. Vs the unknowns. I think stability explains that and also he's still seen. As something of a long shot I tend to think he might be one of the finalists in the end but I don't think there's a general perception of that yet. So you don't money tends to follow was the polls to a certain degree. Now neither bush nor rubio has done particularly well in the polls lately. In fact Bush's has cratered in many of them and rubio was never gotten into. Anything beyond the low double digits. So what will we'll see how it develops but money often follows the holes particularly from an established sectors like finance. I should mention too it's it's not just Wall Street the financial sector generally has heavily favored bush. He's got nearly a million dollars totaled just from the finance sector. And that's about 7% of all the money he's taken he's he's raised a lot of money. Okay end it with that said we have just about thirty seconds left. How UCD. Presidential race plain out. In terms of the contributions from Wall Street how do you see things and evolving. Once there are clear nominees on both sides I think you'll see. That's being placed on both sides with those eventual nominees they'll get plenty of money the Republican Linda getting far more money than the Democrat. But they're gonna have chips on the table for both. OK well we'll have to leave it there. Larry Salmonella pleasure speaking with you. Thank you. That was Larry Sabato professor of politics at the University of Virginia I'm Jeannie airman and this is Reuters.

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Wall Street supports Bush, Clinton for sake of stability

Friday, October 16, 2015 - 03:38