And if they start putting more tips in the jar at Manhattan Starbucks,
maybe the Occupy crowd will go away too.
I give the edge to the Obomber. First, Romney can't control his own
party yet. Second, Romney comes out of private equity, but not Carlyle
Group or Ripplewood or Blackstone one of the really really big groups
that have tentacles in NY, in DC, London, etc. Bain is more along the
lines of Demoncrap Corzine's hedge fund, somewhat peripheral.
>>The president has to date raised only $2.3 million from financial services PACs and financial firm employees, less than one-third of what he received from the industry four years ago. That represents a major reversal from Obama's first run at the White House. In only one example of the financial support he formerly enjoyed from parts of the securities and investment sector, Obama's second-largest source of corporate PAC donations in 2007 and 2008 were employees of investment bank Goldman Sachs (GS).<<
>>In the 2012 election cycle, according to the Center for Responsive Politics, Romney's top five contributors are Goldman, JPMorgan, Morgan Stanley (MS), Credit Suisse (CS), and Citigroup (C), while other major financial industry donors include Barclays (BCS), UBS (UBS), and Wells Fargo (WFC). None of those companies rank among the top 20 contributors to the Obama campaign.<<
>>It's a striking departure from the last presidential cycle, when employees of Goldman Sachs donated more to the Obama campaign than any other company. In the spring and summer of 2007, Obama raised $7.7 million from the financial industry, while Romney brought in $5.1 million, according to the Center for Responsive Politics. Four years and one great recession later, they've basically switched places, with Romney raking in nearly $8 million and Obama—who has watched former supporters like Chicago hedge-fund billionaire Ken Griffin go back to support only Republicans—has seen his haul fall to $4.2 million. (Fourth-quarter-industry data is not yet available.)<<
>>Buffett, 81, is seeking to draw backers for Obama’s re- election and planned to attend a fundraiser for the president in New York. The chairman of Berkshire Hathaway Inc. did at least five television interviews yesterday on topics ranging from politics to the economy to the European debt crisis. On PBS, Buffett said that Obama’s policies helped banks recover from the recession.
“You take the number of people making a million dollars or over on
Wall Street and you can fill a very large auditorium,” Buffett said.
“I think the president felt, ‘My God, look at all the things we did
for business, and they’re unappreciative, and I’m all that stands
between them and the pitchforks.’”<<
>>As a result, Obama has brought in more money from employees of banks, hedge funds and other financial service companies than all of the GOP candidates combined, according to a Washington Post analysis of contribution data. The numbers show that Obama retains a persistent reservoir of support among Democratic financiers who have backed him since he was an underdog presidential candidate four years ago.<<
>>Obama retains a core group of supporters on Wall Street who are central to his fundraising efforts. About a third of his top 40 fundraisers, who have helped bundle together $500,000 or more in contributions, hail from the finance sector, including big names such as former New Jersey governor Jon S. Corzine of MF Global, hedge-fund manager Orin Kramer and UBS executive Robert Wolf.
Obama’s chief of staff, William M. Daley, was also vice chairman at
J.P. Morgan Chase before coming to the White House this year.
Obama’s support within the financial industry tends to be more diffuse
than the top Wall Street firms. One of his primary sources of cash,
for example, is a small Chicago firm called Chopper Trading, which
employs a technique of rapid, computer-assisted trading that some
experts blame for volatility in the stock market.
Employees of the company gave Obama $222,000 after Vice President
Biden held a fundraiser at the home of the company’s chief executive,
Rajiv Fernando, a campaign bundler. The firm did not respond to a
request for comment.
Obama aides regularly point to his $155 million joint fundraising
total with the DNC as evidence of the campaign’s momentum but have
tended to ignore DNC money when discussing Wall Street.
In a memo issued Tuesday, for example, DNC spokesman Brad Woodhouse
said Romney’s campaign “seems quite proud of the fact that they are
leading the money race for campaign cash from Wall Street.”<<