WASHINGTON The financial sector, blamed by progressives for spawning the 2008 economic collapse, is lining up behind Pete Buttigiegs presidential campaign.
WASHINGTON — The financial sector, blamed by progressives for spawning the 2008 economic collapse, is lining up behind Pete Buttigieg’s presidential campaign.
The mayor of South Bend, Indiana, has collected more campaign cash from donors and political action committees tied to the financial, insurance and real estate sector than any other White House hopeful, according to data compiled by the Center for Responsive Politics.
The $3.06 million in contributions compares to $2.8 million directed toward former Vice President Joe Biden and $2.03 million for Sen. Cory Booker, whose home state of New Jersey has strong ties to Wall Street.
While Buttigieg is hardly alone in turning to the finance industry for support, the data could leave him exposed to further attacks from his progressive rivals, especially Sen. Elizabeth Warren. Her criticism of big banks helped propel her political career and she repeatedly hit Buttigieg during Thursday’s debate for his ties to large donors.
Buttigieg is making moves that suggest he’s aware of the potential vulnerabilities. His campaign said Friday it has returned a $5,000 donation from one of Wall Street’s most prominent lawyers, H. Rodgin Cohen.
Sheila Krumholz, executive director of the Center for Responsive Politics, said the donations will give Buttigieg’s opponents the opportunity to argue “he’s in the pocket of big business.”
“We can’t ignore the fact that, time and again, those who are the chief donors at the top industries are well-placed to have a sympathetic ear — if not a champion — in office, should their candidate win,” said Krumholz, who has not backed a presidential candidate.
