Goldman Sachs Execs Cringe at Trump, Send Cash to RNC Instead

Executives at Goldman Sachs (NYSE:GS) who want to support Republican efforts in this fall’s elections are telling GOP fundraisers that management at the big investment bank is cautioning them about making direct contributions to the party’s presidential candidate, real estate developer Donald Trump, the FOX Business Network has learned.

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Rather, these same Goldman executives say they are being prodded by their supervisors that if they want to support the GOP this year, they should give more broadly to Republican party coffers, such as PACs and directly to the Republican National Committee, another indication that Trump’s sometimes erratic campaign rhetoric is having a direct impact on his fundraising, according to people with direct knowledge of the matter.

Trump got off to a slow start in fundraising compared to his Democratic opponent, Hillary Clinton, with as of the last filing date, having just $1.2 million in his war chest, compared to $42 million for Clinton after deciding just weeks ago he would no longer self-finance his presidential campaign and rely on outside donors as well.

But his fundraising has picked up steam of late. On Wednesday, the Trump campaign stated it had raised $26 million in June, and $25 million with the Republican National Committee. Clinton meanwhile raised $40.5 million herself and $28 million with the assistance of the Democratic National Committee.

The distinction is important for campaign financing purposes: Most of the money a candidate raises with the party must be used for “party building” purposes, or in conjunction with party efforts to win congressional and Senate seats, which diminishes its impact for the presidential nominee. Money contributed directly to the candidate or his PAC can be used to mount attack ads or support voter recruitment that directly helps the presidential candidate.

All of which makes Goldman’s move a challenge for the Trump campaign since he may not have enough money to directly rebut Clinton’s attacks or mount direct attacks on his own, fundraisers tell FOX Business.

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