Looks like Wall Street isn’t crushing quite so hard on Obama this time around

posted at 4:01 pm on July 16, 2012 by Erika Johnsen

During the run-up to the 2008 presidential election, Barack Obama was big finance’s favorite candidate by a long shot. Perhaps hoping to put a more Bill Clinton-esque Democrat in the White House (didn’t exactly work out that way, did it?), Wall Street poured money into the Democrats’ fundraising machines:

Despite his rhetorical attacks on Wall Street, a study by the Sunlight Foundation’s Influence Project shows that President Barack Obama has received more money from Wall Street than any other politician over the past 20 years, including former President George W. Bush.

In 2008, Wall Street’s largesse accounted for 20 percent of Obama’s total take, according to Reuters. …

Fleischer continued by saying that President Obama and Democrats, such as New York Sen. Charles Schumer, who has received approximately $8.7 million from Wall Street since 1989, should stop taking campaign donations from Wall Street banks if they are so offended by their actions. …

By the end of Barack Obama’s 2008 campaign, executives and others connected with Wall Street firms, such as Goldman Sachs, Bank of America, Citigroup, UBS AG, JPMorgan Chase, and Morgan Stanley, poured nearly $15.8 million into his coffers.

But, for some strange reason, it seems that the financial sector is less than pleased with the uncertainty, rampant over-regulation, convoluted taxes, bureaucratic red tape, and punishing big-business rhetoric coming out of the Obama administration on the regular. Here’s just the latest evidence that they’re loyalties are switching to the Republicans‘ side in droves:

Employees of Goldman Sachs gave at least $902,000 during the past three months to Romney Victory, a joint-fundraising account for the GOP nominee-in-waiting and the Republican National Committee, filings released late Sunday show. Donors who work for Bain Capital LLC, the private equity firm Mr. Romney helped found, or Bain & Co., the consulting firm associated with it, chipped in $981,000.

Meantime, those associated with the hedge fund Elliott Management, gave at least $785,000. Paul Singer, a key Romney fund-raiser and mega-donor to a super PAC supporting him, founded Elliott. Employees of the Blackstone Group, another private equity firm, gave some $500,000. …

All told, donors who work for a company with the word “capital” in its name donated more than $8.4 million to Romney Victory through June 30. …

The numbers also offer the latest illustration of Mr. Romney’s deep ties to the financial sector. Those connections have allowed him to tap a deep fund-raising well that has cooled to President Barack Obama. Goldman Sachs employees, for instance, have given just $265,000 to Mr. Obama and his party’s victory fund this election, an analysis of federal records shows.

And of course, Democrats are already on the scene with their outrageous outrage — forget the fact that the Obama camp is still taking the Wall Street donations they can get (and as we all know, Obama is a total stranger to thousands-of-dollars-per-plate fundraisers, right?) Is it just me, or does it seem like they’re only very vocal about their qualms with big money when they’re no longer the main recipient?

Senate Majority Leader Harry Reid (D-Nev.) says a group of “angry old white men” is bankrolling conservative outside groups that are spending millions to influence the fall elections.

“If this flood of outside money continues, the day after the election, 17 angry old white men will wake up and realize they’ve just bought the country,” Reid said on the floor. “That’s a sad commentary. About 60 percent or more of these outside groups’ dollars are coming from these 17 people. These donors have something in common with their nominee. Like Mitt Romney, they believe they play by their own set of rules.”


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Harry Reid: “Angry old (rich) white men” are trying to buy the election.

Heh, they realized he’s an utter failure and hypocrite…not a Messiah at all.

Schadenfreude on July 16, 2012 at 4:03 PM

“Angry old white men”? Does Harry Reid realize he just described himself?

Mohonri on July 16, 2012 at 4:04 PM

C’mon Wall Street. Lucy Obama will hold that football for sure this time….

apostic on July 16, 2012 at 4:05 PM

Harry Reid is a dangerous, freaking left wing nutcase.

rplat on July 16, 2012 at 4:06 PM

Pot, meet kettle.

Projection.

Joe Mama on July 16, 2012 at 4:06 PM

“Money to Obama…good” – Leftists

“Money to Romney…bad” — Leftists

“I keep thinking we should include something in the constitution in case the people elect a Fluking moron” — One founding father to another

Schadenfreude on July 16, 2012 at 4:06 PM

Harry Reid is a dangerous, freaking left wing nutcase mortician.

rplat on July 16, 2012 at 4:06 PM

Schadenfreude on July 16, 2012 at 4:07 PM

dingy ding dong harry has made millions upon millions while dc off taxpayers and HE has the GAL to say that? BTW, dingy ding dong, you are a REALLY REALLY angry OLD OLD white guy that should have gone off in the sunset many moons ago if it wasn’t for the idiots that voted for you!
L

letget on July 16, 2012 at 4:08 PM

“If this flood of outside money continues, the day after the election, 17 angry old white men will wake up and realize they’ve just bought the country,” Reid said on the floor. “That’s a sad commentary. About 60 percent or more of these outside groups’ dollars are coming from these 17 people. These donors have something in common with their nominee. Like Mitt Romney, they believe they play by their own set of rules.”

This old fool needs to be run out of town already. It was the Obama campaign in ’08 that eschewed public financing in order to grab every dollar they could in order to “buy” the election. The lack of self-awareness and blatant, dishonest hypocrisy is just mind-numbing.

changer1701 on July 16, 2012 at 4:09 PM

OH, GOODIE !

pambi on July 16, 2012 at 4:09 PM

Yeah, Senile Reidiculous–the ultimate example of the angry old white man millionaire!

stukinIL4now on July 16, 2012 at 4:10 PM

Harry Reid is nothing but a fluffer. Keep going big boy, daddy isn’t done yet.

NapaConservative on July 16, 2012 at 4:10 PM

It was the Obama campaign in ’08 that eschewed public financing in order to grab every dollar they could in order to “buy” the election. The lack of self-awareness and blatant, dishonest hypocrisy is just mind-numbing.

changer1701 on July 16, 2012 at 4:09 PM

No need to put “buy” in quotes.

Del Dolemonte on July 16, 2012 at 4:11 PM

what barry doesn’t understand about economics is legion….but he has a lot of company

right now we’re in a mode of one-time ‘fixes’ etc…and zirp. Zirp kills pension funds

to return to a viable economy of more than 2 percent growth, we have to unleash the power of generativity…an not try to artificially tweak here and there

This is what the 1.6 million workers who have invested their retirement money with America’s largest pension fund, California’s CALPERS, may want to ask Chairman Ben following the firm’s just announced results for Fiscal 2012 (ended June 30). The end result: +1% nominal return, which means a negative real return. And this is even including the now traditional end of June ramp which this year came courtesy of the now largely irrelevant European summit, which nonetheless ramped stocks and likely meant the difference for Calpers between positive and negative on the year! Sadly just one “another” year would not be enough, but a whopping 7 more would be needed, because as is well known, for all actuarial purposes Calpers, as well as the bulk of US pension funds, use a 7.5% discount rate. In other words, Calpers missed the minimum return it needs to not require overfunding by, oh… 87%. Here is Calper’s Mea Culpa: “CalPERS 1 percent return is below the fund’s discount rate of 7.5 percent, a long-term hurdle lowered recently in response to a steady decline in inflation and as part of CalPERS routine evaluation of economic assumptions.” At this rate, courtesy of ZIRP and the destruction of equities as an asset class, until the 2s30s is flat, and we have terminal wheelbarrow lift off, Calpers will no choice but to keep revising lower and lower until its discount rate is negative in line with the imminent advent of NIRP. Good luck with those actuarial tables with a negative discount rate.

http://www.zerohedge.com/news/calpers-generates-1-return-misses-discount-rate-target-87

very few leftists understand any of this (witness our trolls). Leftists are used to living off of grants from foundations or the public weal…and therefore understand Zero

r keller on July 16, 2012 at 4:11 PM

You would think if Bain Capital was such an evil entity, Obama would return their donations to his campaign. This was from a Daily Caller article:

President Barack Obama’s campaign won’t return $7,500 donated by two executives at Bain Capital, despite his repeated criticism of former Gov. Mitt Romney’s work at the company.

Also, LOL! $7,500.00 – They obviously don’t like him very much!

Night Owl on July 16, 2012 at 4:12 PM

Senate Majority Leader Harry Reid (D-Nev.) says a group of “angry old white men” is bankrolling…

…who beside old Harry is angry?

KOOLAID2 on July 16, 2012 at 4:12 PM

During the run-up to the 2008 presidential election, Barack Obama was big finance’s favorite candidate by a long shot.

There are 350 billion reasons for that. When Obama walked into office, he had a war chest loaded with $350B in TARP funds, all ear-marked for Wall Street.

Any questions?

BobMbx on July 16, 2012 at 4:13 PM


But, for some strange reason, it seems that the financial sector is less than pleased with the uncertainty, rampant over-regulation, convoluted taxes, bureaucratic red tape, and punishing big-business rhetoric coming out of the Obama administration on the regular.

Just, exactly, what did these pissants think that a Communist would bring to the business table?

The fact that these pissants would support an avowed Communist, in the first place, is proof that the concept of Communism needs to be expanded to include Wall Street sycophants – the Armand Hammer’s of today – who will seek power from any source, including the malignancy of Communism.

Yes, the concept of the rich, Communist is alive and well, and breeding on Wall Street.

It’s all about power over us – and they don’t give a damn who assists them.

OhEssYouCowboys on July 16, 2012 at 4:13 PM

Man oh man was it epic on Rush today.

John the Libertarian on July 16, 2012 at 4:13 PM

“Angry old white men”? Does Harry Reid realize he just described himself?

Mohonri on July 16, 2012 at 4:04 PM

i beleive the ones harry was referring to are alive. none are cadavers. so no, harry is excluded.

t8stlikchkn on July 16, 2012 at 4:13 PM

They’re just not that into you.

faraway on July 16, 2012 at 4:13 PM

Stick that in your Cowboy Poetry, Sen. Chalk Outline!

di butler on July 16, 2012 at 4:15 PM

Schadenfreude on July 16, 2012 at 4:03 PM

I’m confused…isn’t Harry an old (rich) white man? We should listen to him because his state has beat the odds in the economic downturn (as has Nancy’s)…proof positive that he knows what’s best for all Americans.

Find the pix of Harry with the farm animals and let him “retire” like Bawney did.

teejk on July 16, 2012 at 4:16 PM

Joe Mama on July 16, 2012 at 4:06 PM

Kettle meet Black

docflash on July 16, 2012 at 4:16 PM

“These donors have something in common with their nominee. Like Mitt Romney, they believe they play by their own set of rules.”

Kinda like: Obamatax for thee, but not for me!

Right Harry?

wytshus on July 16, 2012 at 4:16 PM

“Angry, old white men.”

Describes Nancy Pelosi, to a T.

OhEssYouCowboys on July 16, 2012 at 4:17 PM

the minority leader elections on the island of misfit toys this year will be interesting. lets hope harry keeps his job, as pelosi did when she was relegated to minority status.

t8stlikchkn on July 16, 2012 at 4:17 PM

Senate Majority Leader Harry Reid (D-Nev.) says a group of “angry old white racist men Jooos” is bankrolling conservative outside groups that are spending millions to influence the fall elections.

FIFY Harry….

MaxSplinters on July 16, 2012 at 4:17 PM

Fleischer continued by saying that President Obama and Democrats, such as New York Sen. Charles Schumer

The Choomer and the Schumer, raking in them big Wall Street bucks like there’s no tomorrow.

Lying hypocrites.

UltimateBob on July 16, 2012 at 4:18 PM

John the Libertarian on July 16, 2012 at 4:13 PM

Wasn’t it? Wow if Mitt/team would JUST listen to Rush, things would be on fire for bho? I can not for the life of me understand why Mitt/team are so afraid to go whole hog after bho?
L

letget on July 16, 2012 at 4:23 PM

17 angry old white men will wake up and realize they’ve just bought the country,” Reid said on the floor.

I love the smell of racism in the morning.

pedestrian on July 16, 2012 at 4:23 PM

“If this flood of outside money continues, the day after the election, 17 angry old white men will wake up and realize they’ve just bought the country,” Reid said on the floor.

When it’s 17 happy thug union bosses who buy the country, or bankrupt a state, Mr. Reid has no problem with it.

Every law abiding citizen should be angry at an increasingly lawless federal government whose Senate hasn’t passed a budget for over 3 years.

MessesWithTexas on July 16, 2012 at 4:27 PM

17 angry old white men will wake up and realize they’ve just bought the country,” Reid said on the floor.

Whatever it takes! I want a list of these 17 angry old white men so I can send them a Thank You card.

Night Owl on July 16, 2012 at 4:27 PM

Has anybody ever seen Harry Reid and Granny Clampett at the same place, at the same time?

I wonder …

OhEssYouCowboys on July 16, 2012 at 4:28 PM

When it’s 17 happy thug union bosses who buy the country, or bankrupt a state, Mr. Reid has no problem with it.

Every law abiding citizen should be angry at an increasingly lawless federal government whose Senate hasn’t passed a budget for over 3 years.

MessesWithTexas on July 16, 2012 at 4:27 PM

Or, some backroom Politburo, made up of Congressional Democrats.

OhEssYouCowboys on July 16, 2012 at 4:30 PM

“Angry old white men”? Does Harry Reid realize he just described himself?

Mohonri on July 16, 2012 at 4:04 PM

He said “men” ,
which automatically excludes him and basically all demoncraps

burrata on July 16, 2012 at 4:31 PM

“… Reid said on the floor.”

Did no one speak up in opposition to his remarks…?

Seven Percent Solution on July 16, 2012 at 4:34 PM

Whatever it takes! I want a list of these 17 angry old white men so I can send them a Thank You card.

Night Owl on July 16, 2012 at 4:27 PM

Damn right. Count me in too.

MessesWithTexas on July 16, 2012 at 4:35 PM

Come ON people

The incompetent, ultra white, criminal Mormon is a clown named…

Harry Reid!

Nana on July 16, 2012 at 4:43 PM

Has anybody ever seen Harry Reid and Granny Clampett at the same place, at the same time?

I wonder …

OhEssYouCowboys on July 16, 2012 at 4:28 PM

Actually Harry reminds me of Elverna Bradshaw.

Or Cousin Pearl.

Del Dolemonte on July 16, 2012 at 4:48 PM

So right-wingers wanna run on “we’re the wall-street bi#ch$” message?

Salahuddin on July 16, 2012 at 4:49 PM

Senate Majority Leader Harry Reid (D-Nev.) says a group of “angry old white men” is bankrolling conservative outside groups that are spending millions to influence the fall elections.

Don’t worry about what they’re doing.

WHERE’S THE BUDGET, HARRY?

Good Lt on July 16, 2012 at 4:57 PM

So right-wingers wanna run on “we’re the wall-street bi#ch$” message?

Salahuddin on July 16, 2012 at 4:49 PM

The shoe fit Obama perfectly in 2008.

U mad?

Good Lt on July 16, 2012 at 4:58 PM

So right-wingers wanna run on “we’re the wall-street bi#ch$” message?

Salahuddin on July 16, 2012 at 4:49 PM

better than we’re the ‘unions’ bi%#$’ message that obambi is running on, if not for other reasons, at least wall-street use their own money, unlike the unions who use union members’s money to bankroll 0 and his clique of reprobates…

jimver on July 16, 2012 at 5:00 PM

its perfectly acurate, Reid was looking in the mirror when he said that.

maineconservative on July 16, 2012 at 5:00 PM

I guess elections really do have consequences, right Wall Street.

DDay on July 16, 2012 at 5:03 PM

who the hell is surprised by this? crony capitalism is elaborate hypocrisy!

burserker on July 16, 2012 at 5:10 PM

17 angry old white men will wake up and realize they’ve just bought the country,” Reid said on the floor.

well, after what obama has done to it, at least they are getting it at about half-price now. bargain shoppers. when they close the purchase, they assume the debt also right?

t8stlikchkn on July 16, 2012 at 5:15 PM

The pressure is starting to show in the Senate even as we speak. The Senate Democrats are pushing S. 3369 titled: Democracy Is Strengthened by Casting Light On Spending in Elections Act of 2012.

Apparently, the Dems want full disclosure of all financial donors to political campaigns. Read the Bill here.

timberline on July 16, 2012 at 5:15 PM

I’m curious as to what the Democrat weird obsession with censoring organizations from buying political ads and engaging in political speech (except for unions) is.

Good Lt on July 16, 2012 at 5:19 PM

Rather be an angry old white man than a brain dead zombie any day. Thanks for the compliment Harry.

DuctTapeMyBrain on July 16, 2012 at 5:19 PM

So right-wingers wanna run on “we’re the wall-street bi#ch$” message?

Salahuddin on July 16, 2012 at 4:49 PM

LOL! It was okay when Obama was the one getting the money, right? Boo-hoo, those angry old white men don’t want a communist to be the President any longer. Oh, and do you like being Obama’s bi#ch$?

Night Owl on July 16, 2012 at 5:19 PM

So right-wingers wanna run on “we’re the wall-street bi#ch$” message?

Salahuddin on July 16, 2012 at 4:49 PM

In case anyone wonders, that was one of Salahuddin’s famous, Taliban-style drive-by’s. Like a true coward, he throws a bomb and then quickly runs away to a safe place where he snickers and high fives his fellow libtards, who probably consider him a national hero.

We won’t see or hear from him on this subject again. Pathetic.

NapaConservative on July 16, 2012 at 5:25 PM

BOY! ANGRY OLD WHITE MEN…

Harry Reid could sit for the definitive portrait of an ANGRY OLD WHITE MAN…

There is so much packed into that little statement. Racism, ageism, oikophobia, derision, disdain, and fear…. because nothing engenders that kind of smear… like fear.

thatsafactjack on July 16, 2012 at 5:26 PM

I think I was just polled by the Romney campaign. American Future Fund or America Future Fund. I googled it and it looks like they are a Romney backed 5013c. This time I didn’t LIE to the pollsters and the only item where I probably threw off their demographics, is they didn’t have CONSERVATIVE as a choice, just the traditional parties or independent. I don’t consider myself a GOP right now since I hate the ruling elite establishments’ lack of BALLS to confront the media and Obama. Also, I didn’t fit their nice little religious box, so I said “other” because they wanted me to choose either Catholic, Evangelical, protestant, jewish or muslim. They also polled how often I went to church. I am not sure what they will do with my “other” and going to church less than once a month. I am a non church going Christian. But the reason I didn’t lie in the poll is that I am hoping they spend some money here and try to turn the state RED.

karenhasfreedom on July 16, 2012 at 5:33 PM

Harry Reid: “Angry old white men” are trying to buy the election.

Just like the (angry old white men – head of Unions) that bought your last Senate election in 2010 right Harry, you would know.

Dr Evil on July 16, 2012 at 5:37 PM

The pressure is starting to show in the Senate even as we speak. The Senate Democrats are pushing S. 3369 titled: Democracy Is Strengthened by Casting Light On Spending in Elections Act of 2012.

Apparently, the Dems want full disclosure of all financial donors to political campaigns. Read the Bill here.

timberline on July 16, 2012 at 5:15 PM

The first name for the bill suggested, “Let us know who to harass and intimidate act” has since been changed.

slickwillie2001 on July 16, 2012 at 5:45 PM

Of course when those ‘angry old white men’ were pouring money all over the Obamassiah and Company, it was a good thing. Right, Harry? You senile old fool.

Once again, THANK YOU NEVADA! – and I hope Romney makes your state the nuclear dump FOR THE WORLD!

GarandFan on July 16, 2012 at 5:54 PM

Harry Reid: “Angry old white men” are trying to buy the election.

They should call it: The Derrick Bell Critical Race Theory Act.

Derrick Bell, I live to harass white folks. …Barack Obama: “White Folks Greed Runs a World in Need”

Dr Evil on July 16, 2012 at 5:54 PM

Why doesn’t anyone ever ask these people what is wrong with being angry, old, or white? There is plenty to be angry about, we all hope to grow old, and I am dying to hear a rational explanation of why being white is a bad thing.

DrMagnolias on July 16, 2012 at 5:58 PM

It looks like Harry Reid is channeling Barack Obama, where as Obama was channeling Elizabeth Warren.

If you’ve got a business — you didn’t build that. Somebody else made that happen.

And who exactly is Elizabeth Warren channeling?

Hint: He wrote Critical Race Theory
Finally, Columbia law professor Patricia Williams offers a disturbing glimpse into the logic of CRT. Williams recounts the story of a hypothetical question that she was once asked to consider, where X and Y apply for a job with firm Z, which is all white. X and Y are equally qualified. One is black; the other is white. The questions asked: Who should get the job? Williams’ answer is worth repeating at length, as a window into an ideology that is not taken as seriously as it should be:
The black person should get the job. If the modern white man, innocently or not, is the inheritor of another’s due, then it must be returned.
Williams continues:
… [I]f a thief steals so that his children may live in luxury and the law returns his ill gotten gain to its rightful owner, the children cannot complain that they have been deprived of what they did not own. Blacks have earned a place in this society; they have earned a share of its enormous wealth, with physical labor and intellectual sacrifice, as wages and as royalties. Blacks deserve their inheritance as much as family wealth passed from parent to child over the generations is a “deserved” inheritance. It is deserved as child support and alimony.
So whites should collectively be treated as the children of thieves, and blacks collectively deserve to have returned to them what was stolen from their black forebears by those white thieves. This is the seething, irrational ideology at the foundation of CRT- Critical Race Theory.

The Cult of Anti White Resentment.

It’s pretty obvious who is inspiring the leftist campaigns.

Dear Mitt, Be Breitbart.

Dr Evil on July 16, 2012 at 6:06 PM

So the 17 angry old White men hit their heads on a pipe again and got their memory back? Wonderful news!

ardenenoch on July 16, 2012 at 6:13 PM

Perhaps hoping to put a more Bill Clinton-esque Democrat in the White House (didn’t exactly work out that way, did it?), Wall Street poured money into the Democrats’ fundraising machines:

Wall Street knew Obama was going to win in 2008 and were paying “leave me alone” money for his inevitable presidency. This money was a hedge against democrat attacks on certain industries but the joke was on them with Obamacare. This year the race is much closer and they don’t want to feed the beast until they are sure they have to.

Dollayo on July 17, 2012 at 5:47 AM