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2008 Presidential candidates Hillary Clinton and Rudy Giuliani

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MARK AUSTIN THOMAS: Two leading candidates for the White House from both the Democratic and Republican parties are from New York. Democratic New York Senator Hillary Clinton and Republican former New York Mayor Rudy Giuliani. If the race actually comes down to two New Yorkers it would be the first time in more than 60 years. And as Marketplace's Amy Scott reports that's shaking up the money race.


AMY SCOTT: The last time two New Yorkers squared off in a presidential election, Franklin Roosevelt ran against Thomas Dewey. They owned houses six blocks from each other on Manhattan's Upper East Side.

If New York native Rudy Giuliani and recent transplant Hillary Clinton stay ahead in the polls, the 2008 race could get local again.

Many New York powerbrokers have connections to both politicians. Michael Barone co-wrote The Almanac of American Politics. He says some donors may find themselves divided.

MICHAEL BARONE: There have to be a lot of people in New York City who voted for Rudy Giuliani in 1993 and 1997 and voted for Hillary Clinton in 2000 and 2006. I expect they also have some financial support from the same individuals.

On Wall Street, the overlap is pronounced.

The two candidates ran against each other for the U.S. Senate seven years ago. That year Hillary Clinton ranked the sixth-highest recipient of Wall Street money, according to the Center for Responsive Politics. Giuliani came in seventh. And he dropped out of the race early to fight prostate cancer.

Greg Strimple is Republican strategist. He says Wall Street is accustomed to hedging its bets.

GREG STRIMPLE: If Hillary Clinton loses the presidency, she's still gonna be the senator from New York. And so New York interests are gonna have to give her money because she still has the ability to influence what they're interested in.

Oddly, the two New Yorkers may end up helping each other raise money. Lee Miringoff directs the Marist College poll.

LEE MIRINGOFF: Rudy Giuliani may argue that one reason he should become the Republican nominee is, he will make the case, because he can beat Hillary Clinton. And Hillary may make the same argument about Rudy Giuliani.

The presidential race could get even more local. Some believe New York City mayor Michael Bloomberg may enter the fray as an independent. Not that he'd need Wall Street's money. Bloomberg is sitting on an estimated $5.5 billion personal fortune.

In New York, I'm Amy Scott for Marketplace.

About the author

Amy Scott is Marketplace’s education correspondent covering the K-12 and higher education beats, as well as general business and economic stories.

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