Obama’s raised more money for Democrats from Wall Street donors than all Republican candidates combined

posted at 10:25 pm on October 20, 2011 by Allahpundit

The story’s a day old but it’s not to be missed. How much filthy “bankster” lucre are we talking about here? Put it this way: He’s raised more than twice as much for himself and the DNC as Romney has … from Bain Capital.

Remember, this is a guy whose campaign is asking artists to work for free while he’s busy posing for photos with tycoons and carrying off giant sweepstakes-sized donation checks. I almost admire him for having the stones to try to frame himself as Occupy Wall Street’s new best friend.

Obama’s key advantage over the GOP field is the ability to collect bigger checks because he raises money for both his own campaign committee and for the Democratic National Committee, which will aid in his reelection effort.

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 has raised a total of $15.6 million from employees in the industry, according to the Post analysis. Nearly $12 million of that went to the DNC, the analysis shows.

Romney has raised less than half that much from the industry, while Texas Gov. Rick Perry brought in about $2 million. No other Republican candidate has raised more than $402,000 from the finance sector, which also includes insurance and real estate interests.

In other words, O and the Dems have a structural advantage right now because he can raise money for the DNC whereas the RNC can’t get help from a candidate until Republicans choose a nominee. (If you exclude donations to the DNC, Romney actually leads Obama by more than $3 million.) The punchline is that, once the GOP nominee is unleashed and Wall Street money starts stampeding into the RNC, Democrats will segue effortlessly from months of quietly raking in as much finance cash as they can muster to months of demagoging the GOP as “the party of Wall Street” for having outraised them. Neat trick, that. They’ll end up being Occupy Wall Street’s best friend just in time for the general election after spending months stuffing their pockets to bursting with offerings from the banking world’s masters of the universe.

The NRCC rolled out an ad today tarring Democrat Steve Israel with the OWS crowd, but I think this clip of Paul Ryan via Think Progress shows a better way to handle them. No need for histrionic denunciations by leading Republicans; just remind those listening that corporate-government collusion isn’t exclusively a GOP problem, as our friends at Solyndra can tell you. Save the denunciations for the class-warrior-in-chief. Exit quotation: “What seems so ironic to me, or hypocritical, if you remember, it seems like yesterday that President Obama was saying things like, ‘we don’t have red states or blue states, we’re the United States of America, I want to be a uniter, not a divider, hope and aspiration.’ But what we’re getting is a commitment to division here.”

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OWS hardest hit.

BallisticBob on October 20, 2011 at 10:27 PM

This says more about the people on Wall Street than it does about Barack.

SouthernGent on October 20, 2011 at 10:27 PM

I agree with Ryan but the protesters are in the wrong place.

Electrongod on October 20, 2011 at 10:28 PM

Obama is like a turd telling everyone else they smell like crap.

You can clap. Go ahead. It’s alright.

portlandon on October 20, 2011 at 10:29 PM

Ryan nails it…

… He must be silenced!

/

Seven Percent Solution on October 20, 2011 at 10:30 PM

Obama’s key advantage over the GOP field is the ability to collect bigger checks because he raises money for both his own campaign committee and for the Democratic National Committee, which will aid in his reelection effort.

Voters are broke.
Obama can collect any amount of money he wants. It ain’t going to help him come November.

Electrongod on October 20, 2011 at 10:33 PM

Has anyone explained this in simple terms to the OWS crowd..?

d1carter on October 20, 2011 at 10:33 PM

If Obama wasn’t a lying piece of hypocritical… he would reject all Wall-street donations and make them take their filthy money back.

FloatingRock on October 20, 2011 at 10:36 PM

Shove that filthy money down those evil banksters throats, Mr President.

FloatingRock on October 20, 2011 at 10:38 PM

Run Paul, Run.

Really.

I mean if you’re serious about the economic troubles facing this country, you should do it.

I’m hoping for a brokered convention right now with Paul Ryan or Mitch Daniels getting the nomination by acclaim.

PackerBronco on October 20, 2011 at 10:38 PM

O/T,Intell Alert!
=================

Senate GOP kills Obama plan to subsidize hiring of teachers, first responders – @AP

18 mins ago
***************

More: By a vote of 50-50, Senate blocks key element of Obama jobs bill – @latimes

7 mins ago
***********

http://www.breakingnews.com/

canopfor on October 20, 2011 at 10:42 PM

You knnooowwww…

… It might not be a bad idea for some philanthropist to buy a couple thousand copies of “Reckless Endangerment” and start spreading it around these “Occupy (________)” sites.

Can you just imagine the possible tear in the universe…?

Seven Percent Solution on October 20, 2011 at 10:45 PM

More: By a vote of 50-50, Senate blocks key element of Obama jobs bill – @latimes

7 mins ago
***********

http://www.breakingnews.com/

canopfor on October 20, 2011 at 10:42 PM

Since the Senate is controlled by Dems…
Obama will blame the Republicans….
See how that works??

Electrongod on October 20, 2011 at 10:46 PM

Obama is like a turd telling everyone else they smell like crap.

You can clap. Go ahead. It’s alright.

portlandon on October 20, 2011 at 10:29 PM

That’s funny and I did clap

darwin-t on October 20, 2011 at 10:46 PM

Obama a corporate sellout? OWS don’t care. OWS don’t give a sh*t.

cynccook on October 20, 2011 at 10:47 PM

2012 Presidential Candidate Fundraising Summary
************************************************

The first 2012 presidential primaries and caucuses may still be months away, but potential contenders are already crisscrossing the country in bids to boost their political profiles and raise money. Presidential candidates are required to file campaign finance reports with the Federal Election Commission each quarter this year, and each month beginning in 2012. Here OpenSecrets.org highlights how the candidates are stacking up in the money chase, as they build massive political war chests to get their messages out to voters.

View more here about these candidates — and those who dropped out.
===========================================

Barack Obama (D)

Q3-Raised

$40,827,453

End Date September 30 2011
===========================

http://www.opensecrets.org/pres12/index.php

canopfor on October 20, 2011 at 10:48 PM

The corporatist politicians enact the regulations that allow the false capitalists to cement their place in the market with as little competition as possible. But, OWS is too preoccupied with invading restaurants and carrying out their foot fetishes.

V15J on October 20, 2011 at 10:51 PM

“A working class hero is something to be.”

Kenosha Kid on October 20, 2011 at 10:51 PM

Thats the Big Democrat Dirty Secret,
Hopey,is awash,in Wall Street Loot!

canopfor on October 20, 2011 at 10:53 PM

canopfor on October 20, 2011 at 10:42 PM
Since the Senate is controlled by Dems…
Obama will blame the Republicans….
See how that works??

Electrongod on October 20, 2011 at 10:46 PM

Electringod:Yup,thats going to be the strategy,look for,Liberal
talking point,”GOP Obstructionists”!:)

canopfor on October 20, 2011 at 10:54 PM

Obamas Wall Street Funders: Obamas Money From Banks, Hedge Funds, Financial Services
October 20, 2011
*********************
*********************

As the unwashed masses are standing in their Nike’s, “occupying” the streets of New York to bring down Wall Street and re-elect Barack Obama, it is their guy, Obama, getting all the big time money from Wall Street banders, hedge funds and financial services. In fact, Obama raised more than the entire Republican field together. This included reaping the giant’s share of donors at Bain Capital, the private equity firm Mitt Romney co-founded. Despite Obama’s efforts to neuter Wall Street, he has continued to raise “far” more money in 2011 from those sectors than Romney, or any other GOP presidential campaign. One thing to remember: while Obama raised more from Wall than the entire Republican field in 2008, that flipped in the 2010 elections.

Washington Post:

Obama has raised a total of $15.6 million from employees in the industry, according to the Post analysis. Nearly $12 million of that went to the DNC, the analysis shows.

Romney has raised less than half that much from the industry, while Texas. Rick Perry brought in about $2 million. No other Republican candidate has raised more than $402,000 from the finance sector, which also includes insurance and real estate interests…

Another look from Politico:

Obama and other Democrats are still cashing in on Wall Street. Last month, Obama’s campaign held a fundraising dinner hosted by Warren Buffett at Manhattan’s Four Seasons restaurant, the Los Angeles Times reported. Obama has hauled in $3.9 million from the finance, insurance and real estate sector so far this year, according to the Center for Responsive Politics. But he’s been outpaced by GOP presidential candidate Mitt Romney, who has received $7.5 million from the sector.

Goldman Sachs employees – who contributed more than $1 million to Obama in the 2008 election cycle — are now spending more on Romney than Obama, according to CRP. Goldman Sachs employees, along with their spouses, have contributed $352,200 to Romney. That’s more than seven times the $49,125 they’ve given to Obama…

Overall, the commercial banking industry spent roughly the same amount in the 2008 election cycle to back congressional Republicans and Democrats, spending about $14.9 million and $14.2 million on the parties, respectively, according to the CRP. But that balance tipped heavily to the GOP’s favor in the 2010 cycle, and congressional Democrats are now trailing far behind Republicans so far in the 2012 cycle when it comes to Wall Street support.

(More…..)
=================

http://www.maggiesnotebook.com/2011/10/obamas-wall-street-funders-obamas-money-from-banks-hedge-funds-financial-services

canopfor on October 20, 2011 at 10:57 PM

Heres another SNAFU!
=======================

Report: Fed directors benefited from bailouts
Oct 19 2011
*************

Multiple directors or former directors of the Federal Reserve banks who played a key role in the 2008 bailouts had an apparent conflict of interest, according to a Government Accountability Office (GAO) report. These directors had business relationships with companies and banks that received large infusions of government money.

The office of Sen. Bernie Sanders, I-Vt., who caucuses with the Democrats, noted that the report did not name any names, “but unambiguously described several individual cases involving Fed directors that created the appearance of a conflict of interest.” The group of 18 people connected to both the Federal Reserve and a bailed out company included: the CEO of General Electric, Jeffrey Immelt (who is now President Obama’s jobs czar); Stephen Friedman of Goldman Sachs Group Inc.; and Jamie Dimon, the CEO of JP Morgan Chase.

Friedman chaired the Federal Reserve Bank of New York in 2008, when the New York Federal Reserve approved Goldman Sachs as a bank holding company, which Sanders’ office explains “[gave] it access to cheap Fed loans.” Friedman received a waiver from the Federal Reserve to keep his chairmanship, even though he was “a current board member and shareholder of Goldman Sachs Group Inc.” When Friedman received this waiver, “the Federal Reserve Board was unaware that the then-FRBNY chairman had purchased additional shares in Goldman Sachs via an automatic stock purchase program,” according to the full report (here).
(More….)

http://campaign2012.washingtonexaminer.com/blogs/beltway-confidential/report-fed-directors-benefited-bailouts
===========================================================

****** “the Federal Reserve Board was unaware that the then-FRBNY chairman had purchased additional shares in Goldman Sachs via an automatic stock purchase program,” according to the full report (here).

http://sanders.senate.gov/imo/media/doc/d1218%20%282%29.pdf
++++++++++++++++++++++++++
++++++++++++++++++++++++++

The Sanders Report on the GAO Audit on MajorConflicts of Interest at the Federal Reserve
U.S. Senator Bernie Sanders (I-Vt.)Washington, DCOctober 19, 2011
*****************************************************************

http://www.scribd.com/doc/69502662/101911-The-Sanders-Report-on-the-Gao-Audit-on-Major-Conflicts-of-Interest-at-the-Federal-Reserve

canopfor on October 20, 2011 at 5:30 AM

canopfor on October 20, 2011 at 10:59 PM

No more clapping! Up “twinkles” for Ryan and down “twinkles” for Zero. Time to showcase “the stupid” to the rest of the U.S. Hope the rest of the citizenry recognize the sarcasm and stupidity on display. Fun, fun, fun.

MayorDaley on October 20, 2011 at 11:06 PM

You knnooowwww…

… It might not be a bad idea for some philanthropist to buy a couple thousand copies of “Reckless Endangerment” and start spreading it around these “Occupy (________)” sites.

Can you just imagine the possible tear in the universe…?

Seven Percent Solution on October 20, 2011 at 10:45 PM

If it’s free, they just might bite.

pjean on October 20, 2011 at 11:08 PM

It’s not about money… it’s about sending a message. Everything burns!

faraway on October 20, 2011 at 11:09 PM

Obama’s schtick about bashing Wall Street while simultaneously holding his hand out for the money depends on a large amount of dupes believing his tripe. The OWS’rs are filling his quota of dupes and are too stupid and uneducated, like Mr. Hall III, to recognize it.

TulsAmerican on October 20, 2011 at 11:11 PM

Stupid Wall Street donors…

Khun Joe on October 20, 2011 at 11:25 PM

Yeah, Barry got his money from 3 donors. Romney got his from 18.

Do the math. They all gave money, but Romney has 6 times as many votes.

GarandFan on October 20, 2011 at 11:34 PM

The punchline is that, once the GOP nominee is unleashed and Wall Street money starts stampeding into the RNC, Democrats will segue effortlessly from months of quietly raking in as much finance cash as they can muster to months of demagoging the GOP as “the party of Wall Street” for having outraised them.

It must be nice for the Democrats not to have any scruples or ethics.

Of course their media arm won’t call them on this.

‘D’ for Democrat, ‘D’ for demagogue, ‘D’ for Double standard.

It all fits.

Chip on October 20, 2011 at 11:54 PM

He’s raised more than twice as much for himself and the DNC as Romney has … from Bain Capital.

Then the smart money’s saying, “Obama’s getting reelected”.

ernesto on October 20, 2011 at 11:57 PM

has … from Bain Capital.

Then the smart money’s saying, “Obama’s getting reelected”.

ernesto on October 20, 2011 at 11:57 PM

How is that smart money, if he craps all over them? The point of giving a candidate money is to ingratiate yourself with him. For Wall Street characters to give money to Obama, is a waste of money. So I wouldn’t call it smart money.

keep the change on October 21, 2011 at 12:06 AM

You knnooowwww…

… It might not be a bad idea for some philanthropist to buy a couple thousand copies of “Reckless Endangerment” and start spreading it around these “Occupy (________)” sites.

Can you just imagine the possible tear in the universe…?

Seven Percent Solution on October 20, 2011 at 10:45 PM

Or pass out fliers listing Obama’s Wall Street donors.

Obama’s raised more money for Democrats from Wall Street donors than all Republican candidates combined

I’d love to see someone put these words on a sign and stand in the middle of Zucotti Park.

redridinghood on October 21, 2011 at 12:10 AM

This says more about the people on Wall Street than it does about Barack.

SouthernGent on October 20, 2011 at 10:27 PM

It SURE does.

Do you remember Ed’s post yesterday morning?

Wall Street tells Dems not to expect any love this cycle
Oct 19, 2011 10:10 AM by Ed Morrissey

I’ll believe it when I see it.

listens2glenn on October 21, 2011 at 12:30 AM

People like Paul Ryan are the only reason I have any faith in politicians at this time.

karlant on October 21, 2011 at 2:00 AM

Obama’s raised more money for Democrats from Wall Street donors than all Republican candidates combined.

Obama: Duplicitous b*astard. {Along with all the Dems.]

Wall Street: Are they really this stupid?

coldwarrior on October 21, 2011 at 4:59 AM

Wall Street: Are they really this stupid?

coldwarrior on October 21, 2011 at 4:59 AM

Sure they are. They got their bailouts, their bonuses, and they don’t have to worry about Holder or Waxman coming after them the last three years. All smoke and mirrors and business as usual. Wink wink. Nudge nudge.

RepubChica on October 21, 2011 at 9:08 AM

So Obama can be bought like a street walking prostitute, what’s new?This is what he is and always been. The clowns that Obama “understands” are just his base. They are brainwashed lemmings to be used like the shallow tools they are. Narcissists like Obama believe in only one thing…..himself.

volsense on October 21, 2011 at 10:47 AM

Oh, the humanity! If only that money had been put toward stopping the massive rise of rapes-n-murders!!!111!!!

Biden’s gonna be PO’d big time when this news makes it past the plugs…

DrDeano on October 21, 2011 at 12:29 PM

I <3 Paul Ryan. I really wish he was running for president.

artchick on October 21, 2011 at 3:36 PM

This says more about the people on Wall Street than it does about Barack.

SouthernGent on October 20, 2011 at 10:27 PM

Agreed.

Esthier on October 21, 2011 at 6:25 PM