Goldman Boosts Romney's Fortunes
Goldman Sachs manages his personal wealth and is the largest source of campaign contributions.
| Posted Saturday, Jan. 28, 2012, at 12:11 PM ET
Photo by EMMANUEL DUNAND/AFP/Getty Images
Mitt Romney and Goldman Sachs have enjoyed a mutually beneficial relationship for years and that isn’t about to change now that the former Massachusetts governor is running for the Republican presidential nomination. The company that became synonymous with greed during the financial crisis is the largest contributor to Romney’s campaign, with employees handing over at least $367,000, reports the New York Times. And it’s not just professionally. Goldman has made millions for Romney by managing his personal fortune.
The question now is, will voters care? Newt Gingrich attacked Romney for his relationship with the Wall Street darling at Thursday’s debate. And while Gingrich’s attacks may not have been the most truthful, as Business Insider points out, they still served as a reminder to voters of the connections between Romney and the securities and investment industry that has given more money to Romney than any other sector.
Yet that doesn’t mean the financial industry will be sad if Gingrich gets the nomination. They also stand to win big from some of the former House speaker’s proposals, notes Bloomberg. But the Republican establishment is doing everything in its power to make sure Gingrich doesn't win Florida, reports the Washington Post’s Dan Balz. The thought that Gingrich could win the nomination “has touched off near panic in the ranks” and party leaders are attacking the former House speaker with renewed intensity.
Criticism of Gingrich has also surged in the conservative press, which had largely been unenthusiastic about Romney but see him as a much stronger candidate to face President Obama. The efforts to portray Gingrich as a poor choice for a general election seem to be working, reports the Associated Press. Talking to Gingrich supporters, the AP notes that while many “love his brash style” they “also have lingering doubts about whether Gingrich really is Obama’s most serious threat.” Yet amid all that criticism, Gingrich has gained one key ally: Sarah Palin. The former vice presidential nominee is increasingly coming to Gingrich’s defense, seeing his attackers as “the very same forces who conspired against her when she was on the national ticket,” notes Politico.
