The U.S. Corporation that helped President Barack Obama finance his 2008 presidential campaign has turned its back on him this election.
According to the Wall Street Journal, executives and employees of Goldman Sachs are fired up by what they are referring to as regulatory attacks on their business and personal attacks on their character. This has caused them to abandon President Obama and now has become the number one source of money for Obama's republican competitor, Mitt Romney.
"As a longtime friend of Mitt and Ann, I can attest that his conviction and strength on fixing the U.S. economy is compelling as are his values," Jim Donavan, a banker formerly in charge of Goldman's relations with businesses run by Romney, told the Journal.
"That is why there has been such a strong outpouring of support for Mitt from all sectors."
Many past and current Goldman executives said Democratic lawmakers and the white house, who they considered friends, were disloyal to them. Some executives even said they didn't want to speak out negatively about the president, and that their donations speak for themselves, the Journal reported.
The Journal confirmed that this year, Goldman employees have donated $136,000 to the president, compared to the more than $1 million they donated to his campaign last year. The firm has made zero donations to the leading Democratic super PAC yet, they have donated $900,000 to Romney's campaign and an extra $900,000 to the republican super PAC.
Since congress created the campaign financial system, this is the first time in its four decades that any company has switched sides so quickly, from supporting one campaign to another.
