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Ear to the Ground

Wall Street Is Still Trying to Buy Obama’s Love

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Posted on Oct 19, 2011
White House / Chuck Kennedy

President Obama and the Democratic National Committee have raised more from the financial industry than all the Republican candidates combined. However, without the DNC, Mitt Romney has raised almost twice as much as the president from that sector, according to analysis by The Washington Post.

Republican candidates such as Romney are not yet able to utilize their party’s fundraising potential, giving Obama an advantage.

Glenn Greenwald points out that the president lags behind his 2008 Wall Street fundraising and, as The Washington Post reports, only “5 percent of the $90 million Obama’s campaign committee has raised this year came from finance and banking interests.”

There is a perception, amplified in the political press, that Obama has alienated the finance industry with heated rhetoric and lukewarm reforms.

But one anonymous banking executive tells the Post that this perception is overblown, if politically advantageous:

One top banking executive who raises money for Obama, discussing fundraising efforts on the condition of anonymity, said reports of disaffection with the president “are exaggerated and overblown.” He said a strong contingent of financiers in New York, Chicago and California remains supportive of Obama and his economic policies, even as some have turned on him.

But, this donor added, “... It probably helps from a political perspective if he’s not seen as a Wall Street guy.”

You can pore over the data yourself and come to your own conclusions at the Center for Responsive Politics’ OpenSecrets.org—PZS

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IMax's avatar

By IMax, October 21, 2011 at 5:39 am Link to this comment

As much as I support the dialog which comes from OWS protests I remain concerned that a full 1/3 of protesters say they’ll resort to violence to make their point.

It seems many here and elsewhere desire a Full Steam Ahead approach and willing to ignore this disturbing revelation.

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By Ching-Ching, October 21, 2011 at 4:09 am Link to this comment

“Wall Street Is Still Trying To Buy Obama’s Love”
???????
How do you buy someone you already own?
Just because Republicans are less crafty at hiding there love of the rich and the bankers, doesn’t make Obama the champion of the poor and middle class that he claims to be.

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drbhelthi's avatar

By drbhelthi, October 21, 2011 at 2:27 am Link to this comment

@ litlpeep

Here you pop up again, spreading pertinent ideas and accurate information.  How dare you tell the truth about Wall St.´s Obama and his pimp at the USTreasury !  Congratulations !

I wonder how long it will take the AIPAC shills to label you as “anti-semitic”?
Or have they switched tactics and now try to dominate with pseudo-intellectual questions and phraseology?  Their attempt to dominate, and their scape-goating, thought-trend always identifies them.  I wonder if any of them have relatives in the MOSSAD, who are reported by insiders to have set the explosives in the World Trade Center ?

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By litlpeep, October 20, 2011 at 7:45 pm Link to this comment

This is a very big IF indeed: “But, this donor added, “... It probably helps from a political perspective if he’s not seen as a Wall Street guy.”

Of course, only the willfully ignorant will fail to see that Obama is a very willing and culpable Wall Street man.

And the willfully ignorant make up only about 75% of those who would otherwise vote for Obama.  That is why Obama and his Wall Street running dog lackey at Treasury are working so hard to puff the notion that Wall Street is angry with Obama.

Wall Streeters are so busy with the champagne they cannot be bothered worrying about what their bought and paid for hacks are saying about them.

The article would have been worth reading had it included some details on Obama’s former supporters who now see him as he is: in Wall Street’s pocket.

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By Berne Mills, October 20, 2011 at 12:09 pm Link to this comment
(Unregistered commenter)

Since President Clinton it hasn’t mattered which party the president comes from.
Like any good quarterback they know to stay in the pocket?

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By gerard, October 20, 2011 at 11:28 am Link to this comment

Quote:  “It probably helps from a political perspective if he’s not seen as a Wall Street guy.”

So where’d that idea come from?  Thank you, Occupiers! Now if a few million more people would pitch in with local organizing, teach-ins, discussion groups, letters to editors, broadcasts of Democracy Now on local stations—anything and everything to create a broader, more live political climate ..  Everybody isn’t aware yet of the roots of the roots.

Notice that the elites themselves are calculatedly quiet—no indication of helpfulness, of realization of painful needs and unanswered questions, no sense of their democratic responsibility. Surely there are a few people who can talk to them?
  Suggest their involvement; solicit their sense of “creative business initiatives” or whatever it takes to discourage their blase “let ‘em eat cake”
insouscience.
  Where are the “institutions of higher learning” in this?  Are they offering fall courses in “Political Inteligence 101” or “Creativity in Politics”? Are they helping to make it possible for ordinary people to take night classes in “Building Tomorrow with our Children” or “Providing a Liveable Future for the Human Race” or even “Essehtials of Democratic Government”?
  At the same time I rejoice at what is being done, I weep at what more could be done—by ordinary people. Before you are 97 years old and can’t walk more than fifty feet ,,,
  People here on line sneer at such blogging as this.
Sure, it’s not much—even of questionable value—but let me tell you something—quite possibly it’s better than doing nothing.

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By Basoflakes, October 20, 2011 at 9:35 am Link to this comment

Wall Street will try and buy all candidates, and will be successful, except for one - Ron Paul.  In Tuesday’s debate, Paul identified the real victims, the 99%ers, not the banks and wall streeters.

Who is the best Republican running?  Sean Penn said so on Piers Morgan last week - Barack Obama.

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By ksoskin, October 20, 2011 at 7:52 am Link to this comment

“Wall Street is Still Trying to Buy Obama’s Love?”  Trying?  Really?  They have never
had to try—he was their puppet baby from day one and that isn’t going to change
because he has more empty campaign rhetoric about standing up to them now. 
They knew his rhetoric meant nothing in the last campaign and they know it now. 

So why phrase a headline like there is a question about the depth of love and
commitment between Wall Street and Obama?  Especially on this site.

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prisnersdilema's avatar

By prisnersdilema, October 20, 2011 at 5:59 am Link to this comment

Stop pretending….Obama’s love is not for sale, that his cabinet appointments were not
for sale, that he was the president who was going to bring the troops home, that he was
the president that was going to reform health care…

Stop pretending that there was a significant difference between Obama and any
Republican we could have had…

and stop pretending that he’s not Wall Streets Bitch…

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By truedigger3, October 20, 2011 at 4:28 am Link to this comment

Nobody served Wall St. banksters and fraudsters better than Obama. He is the apple of their eyes. May be, may be not, it is time to replace him for public relations purpose especially with OWS going on, but the beat will go on, and Wall St. will rule supreme.
Enough bullshitting and that goes to Lafayette too who is Wall St. resident TROLL here in truthdig.

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drbhelthi's avatar

By drbhelthi, October 20, 2011 at 4:19 am Link to this comment

The title of the article is beneath the dignity of a non sequitur.

So much for your hero from Kenya, who has spent two million dollars of someones money, covering up his history, and educational records.  Add to that, two falsified birth certificates.  He has done and is doing that which the Hitler entourage behind the Federal Reserve placed him in the position to do.

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By truedigger3, October 20, 2011 at 4:14 am Link to this comment

Nobody served Wall St. bnaksters and frtaudstersbetter than Obama. He is the apple of their eyes. In time they will make sure that he is elected unless they get better replacenment which they might. Enou

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drbhelthi's avatar

By drbhelthi, October 20, 2011 at 4:06 am Link to this comment

As I recall, he never said he was a miracle-worker. Lafayette

There are a few other items that you might try to recall, which would contribute to a more accurate picture.

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By theway, October 20, 2011 at 2:25 am Link to this comment

Love? What love?

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Lafayette's avatar

By Lafayette, October 20, 2011 at 1:39 am Link to this comment

gerard: Can you imagine two weeks before the election the media is forced to report that the DNC is broke and unable to afford to buy time on major TV channels!

No but I can imagine an electorate so politically naive and gullible that media messaging on the boob-tube influences their opinion. Which is why elections cost so damn much money.

Can one imagine all the good that could be done were we to spend the cost of the last presidential election (estimated at half a billion dollars) on some worthwhile projects that betters lives of Americans?

Most of the media-messaging is defamatory, scurrilous and character assassination intended to make those who employ it to look as if they, like soap powder, “wash whiter than white”.

Once elected, however, their duty in terms of responsibility to their constituency evaporates like the morning dew.

The level of debate - into the details of policy making - are where the devil lies waiting. And therefore where politicians refuse to go ...

Obama promised “hope” and because he could not walk on water, was held responsible for an economic disaster that had been caused by the previous administration. As I recall, he never said he was a miracle-worker.

But he was the guy in the Oval Office when the country tumbled into the Deep Doodoo ... so, of course, quite naturally, he’s the guy to blame.

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Lafayette's avatar

By Lafayette, October 20, 2011 at 1:08 am Link to this comment

The reformation of America starts with a revision of the political process (which then brings about economic reform).

We are a nation of laws, so lawmakers are at the heart of both the problem and the solution.

Which means three areas need our attention:
* The gerrymandering of Congressional districts that ossified politics into a two-party system and does not allow for third-party impact upon the political process.
* Voter turnout that is one of the worst in the “Democratically free world” and a shame upon us.
* Lobbying of congressional representatives (both Chambers) that distorts legislation towards Corporate needs and the citizen be damned.

The above can be modified by changes in the electoral law. For instance, just outlaw gerrymandering and return to a distribution of congressional representation based upon county by county population counts.

Or allowing corporations tax deductible donations ONLY to efforts to get out the vote. And, in a country where voting is both a Civil Right AND a Civic Duty, to install a Reverse Poll Tax on those who do not vote.

Lobbying can be more strictly regulated. For instance, by forbidding the Revolving Door by those who work for a government agency then spin-off to work for a lobbyist lobbying that agency. And we can make it a crime of “influence peddling” if congressional rep’s are caught in the process.

The GAO (Government Accountability Office) can be empowered to look into the Net Worth of congressional rep’s to assure that they are not enriching themselves or their families whilst in office.

For any or all of the above to happen, however, first we must elect a group of Progressive Candidates to both Chambers of Congress - irrespective of their political parties - who adhere to a Progressive Agenda for Political Action.

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By glider, October 19, 2011 at 11:13 pm Link to this comment

We are over one year away from the elections.  Current Wall Street money is most influential for selecting who the Republican candidate will be.  Don’t worry, there will be plenty of time for Obama to stuff his coffers will Financial Sector cash.

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By gerard, October 19, 2011 at 10:16 pm Link to this comment

It’s possible that, even before the election is conducted, Wall Street contributions will have become the kiss of death.

Can you imagine two weeks before the election the media is forced to report that the DNC is broke and unable to afford to buy time on major TV channels! At the same time, that Romney (or somebody) is overloaded with cash and blathering all over the airwaves.

MoveOn.org has rounded up tens of thousands of supporters who are willing to crawl door to door, distributing tens of thousands of leaflets recycled from the first presidential campaign, culled from dumpsters discovered behind the Republican Campaign Headquarters months ago by Grannies for Peace and secretly salvaged just in cast of need.

Meanwhile, the Internet ..... well, you carry on with the scenario and its fantastic possibilities.
(Sorry for this.  It’s obviously past my bedtime!)

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