Wall Streeters Top Obama Re-Election Supporters

[lostinblue 1,989]

Wall Streeters Top Obama Re-Election Supporters

Friday, 22 Jul 2011 03:58 PM

By Julie Crawshaw

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A just-released study by the Center for Responsive Politics shows that President Obama is relying more on Wall Street to fund his re-election this year than he did in 2008, according to CNBC, which obtained an advance copy of the report.

The report says that one-third of the money Obama's elite fund-raising corps has raised on behalf of his re-election has come from the financial sector.

"Individuals who work in the finance, insurance, and real estate sector are responsible for raising at least $11.3 million for Obama's campaign and the Democratic National Committee," the report says.

And, all of Obama's “bundlers” — top fundraisers who obtain donations from people and groups in their business, professional, and personal networks — have raised a minimum of $34.95 million.

Obama has even added new Wall Streeters who did not work for him in 2008, including former Goldman Sachs CEO Jon Corzine, Evercore Partners executive Charles Myers, Greenstreet Real Estate Partners CEO Steven Green, and Azita Raji, a former investment banker for JPMorgan.

Obama and the DNC combined are on pace to far exceed the amounts Obama raised from Wall Street donors in 2008, both in raw dollar amounts and as a percentage of what he raises overall.

According to the Center's research, Obama fundraisers who worked in the finance, insurance and real estate sector were responsible for a minimum of $16 million, or about 21 percent of the $76.5 million estimated minimum amount brought in by top bundlers.

Moreover, the Center has identified 80 bundlers — out of 244 whose names were released by the Obama campaign last week — who are part of the financial sector.

Forty-four of these specifically work for the securities and investment industry.

United Press International reports that Obama has raised more money than his Republican rivals in 36 states and Washington, D.C.

Read more: Wall Streeters Top Obama Re-Election Supporters

http://www.moneynews.com/StreetTalk/obama-wallstreet-electioncampaign/2011/07/22/id/404563

[lostinblue 1,989]

The US financial system is full of corruption, and they’re not alone, the US congress is corrupt too, argued Michael T. Snyder, the founder of TheEconomicCollapseBlog.com.

“Where in the world do you begin – do you being with Goldman Sachs and the horrific things they did to help because the housing collapse? Do you begin with JP Morgan and their tremendous manipulation of the gold and silver markets?” asked Snyder. “It also extends to the US congress. There’s so much corruption in the US congress that they are hesitant to investigate anyone else in case their own corruption could be exposed.”

Snyder explained that US politicians, including US President Barack Obama, receive large amounts of political donations from Wall Street’s major financial institutions. The top political donors in Washington are the biggest financial firms and politicians not likely to investigate their biggest finacnail backers.

http://rt.com/usa/news/wall-street-economy-crisis/

[luckytxn 2,265]

Well they should fund him big time. He did pay for their loyalty and votes already big time with the huge bailout that ensured they got to keep their jobs and huge bonuses. With him in the WH they know if they screw the economy up again that he will just turn the spigot on again and give them another do over.

[Mr. Big Dog 10,747]

Well they should fund him big time. He did pay for their loyalty and votes already big time with the huge bailout that ensured they got to keep their jobs and huge bonuses. With him in the WH they know if they screw the economy up again that he will just turn the spigot on again and give them another do over.

That huge bailout (EESA & TARP) happened in October 2008 - prior to Obama even being elected. You could at least try and get them facts straight.

[slim 1,533]

Finance, insurance and real estate. All businesses that profit from democrats in office.

[Mr. Big Dog 10,747]

Finance, insurance and real estate. All businesses that profit from democrats in office.

How?

[slim 1,533]

How?

Same way they do when republicans are in office - pay them to vote on things they want so they can get more money.

[Mr. Big Dog 10,747]

Same way they do when republicans are in office - pay them to vote on things they want so they can get more money.

So, they benefit regardless of who is in office. Your intitial comment seemed to suggest otherwise.

[slim 1,533]

So, they benefit regardless of who is in office. Your intitial comment seemed to suggest otherwise.

It seemed to suggest it... but upon a little follow up, it's revealed - Government of any sort is good for some businesses!

[Mr. Big Dog 10,747]

It seemed to suggest it... but upon a little follow up, it's revealed - Government of any sort is good for some businesses!

There are other businesses that benefit from government of either color: agriculture and fossil fuel come to mind.

[slim 1,533]

There are other businesses that benefit from government of either color: agriculture and fossil fuel come to mind.

Any business that gets too big to be profitable without government interference (farms/pharms) benefits no matter who's in office. Smaller, more profitable businesses (without government interference) have a hard go of it regardless of who's in office.