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Obama Holds WH Fundraiser With Wall Street

From an unfazed and unquestioning New York Times:

Obama Seeks to Win Back Wall St. Cash

Published: June 12, 2011

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.

How clever of Mr. Obama to hold a White House fundraiser disguised as a ‘listening session.’ And it was an especially nice touch to invite them to pony up give their views before he has officially announced his candidacy. You can see why Mr. Obama is the darling of campaign reformers everywhere.

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.

Who did he "enrage"? Jeffrey Immelt? Jamie Dimon? The other ‘fat cats’ he was quietly bailing out on the side?  Like everything else, Mr. Obama’s anti-Wall Street rhetoric was all for show.

He was simply playing to his base. And all the Democrat ‘fat cats’ knew it at the time.

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

But it wasn’t a campaign event. That would be unethical and maybe even illegal.

In any case, the real problem here is that Mr. Obama’s public and private bailouts and his ‘Quantitative Easing’ haven’t really helped the ‘investor class.’ They have simply helped those who ride the backs of the ‘investor class’ — the bankers and money managers.

The investors themselves are still being punished by the Obama administration at every turn.

“The first goal was to get recognition that the administration has led the economy from an unimaginably difficult place to where we are today,” said Blair W. Effron, an investment banker closely involved in Mr. Obama’s fund-raising efforts. “Now the second goal is to turn that into support.”

All the White House needs to do is to send out Debbie Wasserman Schultz to explain Obama-nomics to these neophytes.

The president’s top financial industry supporters say they are confident that the support Mr. Obama needs will ultimately be there, despite the financial industry’s unhappiness over his efforts to tighten regulation of their businesses. But it is clear that those supporters will have to work much harder to win over the financial services industry than they did in 2008, before Wall Street’s bust, the subsequent clashes over policy and the sometimes bitter personal differences that lingered afterward.

Executives at large investment banks, a group that gave generously to Mr. Obama in his last campaign, are remaining on the sidelines for now

Don’t worry. The ‘fat cats’ will be where they always are when the bell rings. Right beside those ‘Wall Street hating’ Democrats.

They know which side of the bread their butter is on.

This article was posted by Steve on Monday, June 13th, 2011. Comments are currently closed.

5 Responses to “Obama Holds WH Fundraiser With Wall Street”

  1. Liberals Demise says:

    WH fund raiser?
    Our White House?
    I don’t recall any other President calling any entity over for a Fund Raiser.
    Fund Raiser for what? This my friends “IS” illegal but what the hell……dingleBarry
    don’t care one iota about the law. Nay…..any laws!

    • Right of the People says:

      I just someone is keeping track of all these things are impeachable offenses so when we finally say enough is enough and take our country back his backers can’t say we didn’t hang him for cause.

      It’s been said repeatedly here on this site and others but if this had been either Bush or Reagan the Lame Stream Media would be having a coronary right about now by thier abuse of office.

      Thank God it’s after twelve and offically Miller Time.

  2. P. Aaron says:

    Were the fat cats from Fannie & Freddie invited? Or are they already part ‘Bamster’s economic advisory board?

  3. xdannyh says:

    Must of been a short meeting, something like this: Welcome: You’re not in Jail. The contributory sign up sheet is awaiting your pledge on the way out. Thank you.

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