Saturday, August 28, 2004

Wall St fundraisers shy away from Bush

By David Wighton in New York and James Harding in Washington
Published: August 26 2004 20:58 Last updated: August 26 2004 20:58

Wall Street's enthusiasm for US President George W. Bush appears to have cooled as the presidential race tightens and concerns grow about foreign policy and fiscal deficits.

Some leading fundraisers of Mr Bush's re-election bid have stopped active campaigning and others privately voice reservations.

The New York financial community is expected to give the Republicans a lavish welcome when the president's party arrives for its national convention next week. Wall Street has been a big contributor to Mr Bush's record-breaking re-election fund.

But one senior Wall Street figure, once talked of as a possible Bush cabinet member, said that he and other prominent Republicans had been raising money with increasing reluctance. “Many are doing so with a heavy heart and some not at all.” He cited foreign policy and the ballooning federal deficit as Wall Street Republicans' main concerns.

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