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Obama Seeks to Win Back Wall St. Cash

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BDBoop

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http://www.nytimes.com/2011/06/13/us/politics/13donor.html

WASHINGTON — A few weeks before announcing his re-election campaign, President Obama convened two dozen Wall Street executives, many of them longtime donors, in the White House’s Blue Room.

The guests were asked for their thoughts on how to speed the economic recovery, then the president opened the floor for over an hour on hot issues like hedge fund regulation and the deficit.

Mr. Obama, who enraged many financial industry executives a year and a half ago by labeling them “fat cats” and criticizing their bonuses, followed up the meeting with phone calls to those who could not attend.

The event, organized by the Democratic National Committee, kicked off an aggressive push by Mr. Obama to win back the allegiance of one of his most vital sources of campaign cash — in part by trying to convince Wall Street that his policies, far from undercutting the investor class, have helped bring banks and financial markets back to health.

Last month, Mr. Obama’s campaign manager, Jim Messina, traveled to New York for back-to-back meetings with Wall Street donors, ending at the home of Marc Lasry, a prominent hedge fund manager, to court donors close to Mr. Obama’s onetime rival, Hillary Rodham Clinton. And Mr. Obama will return to New York this month to dine with bankers, hedge fund executives and private equity investors at the Upper East Side restaurant Daniel.
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....*waits for a lib to call out Dems for being "in the pockets" of Big Business*
 
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Obama has always been in the pockets of big business just like any other president. But hey this does no surprise me at all.
 
You mean they are not bought and paid for already?
 
Whovian said:
Not gonna happen. They are in the inside coat pocket, where they can't be seen.
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Not soo much "in their pockets" but he has no choice since the SC gave corps/big business the power to back any candidate with as much money as they like without disclosure of source. Thids also gives other countries power to take us over. We have the same problem with the US Chamber of Commerce. US in name only.
 
I'd like to believe there is a difference between lobbyist and campaign contributions, but ultimately both can lead to questionable ethical behavior by politicians. To that, I'd say President Obama may have a few wealthy bank CEOs in his breast pocket as oppose to his back pocket. I'm still trying to figure out which is worse: pulling them out when you need them to call in a favor or two here or there or having them at your becking call 24/7?

BentWingedAngel said:
Not soo much "in their pockets" but he has no choice since the SC gave corps/big business the power to back any candidate with as much money as they like without disclosure of source. Thids also gives other countries power to take us over. We have the same problem with the US Chamber of Commerce. US in name only.
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Good points.
 
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Thanks OV! What's really annoying is when I heard an interview on NPR. reporter went into a bar on wll-st. & talked to the boys. None of them would aknowlesdge that they still had their jobs because of the bailout! They said they had their jobs because they were smart. They will give no credit to Obama & they still do not trust him.
 
Which is why I'm glad finance reform included measures to forbid the banks, investment firms and the like from coming back to the Treasury with their hands out the next time they get themselves in trouble (ungrateful SOBs...:censored )
 
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