Wall Street Is Bearish on Perry's Electability - 这下PERRY里外不是人了

ByStander

这下PERRY里外不是人了

Wall Street Is Bearish on Perry's Electability

The red meat Rick Perry is serving up to Republican primary voters is causing him problems with deep-pocketed Wall Street donors.

Some bankers say they would prefer a more moderate candidate, and worry the Texas governor's style and stances on social issues could sink him in the general election. Their unease, along with rules against governors accepting money from certain financial executives, could crimp Mr. Perry's ability to tap into his party's single biggest source of cash.

"Wall Street would only really go for him if they thought he could win—and they don't," said Rick Hohlt, a Washington lobbyist and Republican fund-raiser.

Mr. Perry and former Massachusetts Gov. Mitt Romney said they will have raised at least $10 million in the three-month fund-raising period ending Friday, and both are expected to have plenty of cash for their campaigns. Still, to offset Wall Street skittishness, Mr. Perry would have to rely more heavily on donors from other areas, such as Texas's oil and gas industry, that traditionally supply less campaign cash.

Last week, Mr. Perry went to New York for three fund-raising events, including a dinner hosted by former American International Group Inc. chief Hank Greenberg. That was a first step toward winning over financial-services executives, many of whom mix conservative views on economics and taxes with more-liberal positions on social issues such as gun control, same-sex marriage and abortion rights. Wall Street largely backed President Barack Obama in the 2008 election before souring on his anti-banker rhetoric and financial-services regulations.

Given the choice between Messrs. Perry and Romney, the primary's current front-runners, many are opting for the latter. While both candidates voice similar views on social issues on the campaign trail, Mr. Romney's track record governing a liberal state and background in finance make him a more comfortable fit for many Wall Streeters.

"Some people may not believe in every issue the governor has supported, but the top issues in this race are improving the economy and job creation," said Perry campaign spokesman Mark Miner. "And Gov. Perry has a track record of putting in place policies that allow businesses to grow."

During the 2008 presidential election, individuals who worked in the finance, insurance and real-estate industries provided 20%, or $132 million, of the total contributed to Democrats and Republicans, according to an analysis of data compiled by the Center for Responsive Politics. By contrast, the energy industry accounted for less than 2% of industry donations to 2008 candidates.

During the 2010 campaign, hedge funds and other securities firms gave a majority of their donations to Republicans for the first time since 2004, according to the Center for Responsive Politics, a nonpartisan group. At the same time, though, Wall Street executives donated millions of dollars to a campaign to legalize same-sex marriage in New York.

Hedge-fund manger Leon Cooperman said he is "negative" on Mr. Perry because he thinks the Texan is too conservative on social issues. "I'm a great believer in separation of church and state," Mr. Cooperman said. "Any guy that has a meeting to pray for rain—that's a guy I'm not voting for."

In 2008, Mr. Cooperman raised money for Mr. Obama, but has since deserted the president and said he is leaning toward supporting Mr. Romney.

Others said Mr. Perry's style is just as much a concern for Wall Street donors. "It's the Texas bravado that rubs Wall Street the wrong way," said Nathan Gonzales of the Rothenberg Political Report.

Complicating Mr. Perry's pitch are changes to fund-raising rules that cap the amount some senior managers on Wall Street can give to state officials at just a few hundred dollars. A Securities and Exchange Commission rule that took effect earlier this year aims to prevent financial-sector donations from influencing regulators' decisions on how to invest public pension funds. A 1994 rule also restricts Mr. Perry from raising cash from people involved in underwriting municipal bonds.

Together, the restrictions could have a "significant, but not debilitating" impact on Mr. Perry's ability to raise money on Wall Street, according to Ken Gross, a campaign-finance lawyer with Skadden, Arps, Slate, Meagher & Flom LLP.

In the 2008 campaign, Mr. Romney received more money from Wall Street than from any other sector, and he so far has dominated that arena again in the 2012 cycle.

Al D'Amato, a former Republican senator from New York who now heads Park Strategies, said Mr. Perry was "once the great hope of the business community and conservatives, [but] he has not accredited himself as people thought he might."

Mr. Perry's description of Social Security as a Ponzi scheme "is the kind of statement that loses support from conservatives," said Mr. D'Amato, who isn't yet backing any candidate. "Wall Street is looking for someone who can articulate positions."

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