Dems take $20 million in corporate money for convention

posted at 2:01 pm on September 4, 2012 by Ed Morrissey

It’s been amusing to see Democrats stumble repeatedly over the site name of their venue for Barack Obama’s acceptance speech on Thursday, Bank of America Stadium.  Some have taken to calling it “Panthers Stadium” in order to distance themselves from the despised banking industry, as local station WCNC noticed last week:

The name change is causing some political whispering. Democrats, like Donna Brazille and DNC Chair Los Angeles Mayor Antonio Villaraigosa, have repeatedly substituted the major banking company’s name for something else when referring to the site.

Some believe the party doesn’t want to be associated with the bank at the convention because of public frustrations during uncertain financial times.

WCNC also hears that Democrats want to cover the Bank of America sign, which convention officials didn’t exactly deny:

When asked if it would cover up Bank of America’s signage at the stadium, DNCC officials would not comment specifically. However, they did indicate it is customary to cover signage at any arena or stadium to help branding for the convention.

Imagine what it will take to cover up the fact that the convention itself will get funded by … Bank of America.  And Wells Fargo.  And a lobbying firm.  And a few other corporations that will kick in sponsorship money to pay the bills, despite more than a year of insistence from DNC officials that corporate money would not be taken to pay for the event:

Companies including Bank of America Corp. and Wells Fargo & Co. (WFC) have contributed $20 million toward the cost of the Democratic National Convention, helping fund an event that Democrats initially said wouldn’t accept corporate money, according to two people familiar with the matter.

Organizers of this year’s convention in Charlotte, North Carolina, turned to corporations after the city’s host committee struggled to reach its $36.7 million fundraising goal, according to the people, who requested anonymity.

Last year, the Charlotte host committee set up a separate entity called New American City Inc., to take corporate cash and to which Bank of America and Wells Fargo contributed, according to the people. The two banks were on a list of corporate donors released Sept. 1 by the host committee that also named AT&T Inc. (T)US Airways Group Inc. (LCC)Duke Energy Corp. (DUK) and the law-and- lobbying firm McGuireWoods LLP.

There’s nothing inherently wrong with these arrangements.  It’s just that all of the holier-than-thou sanctimony on fundraising which preceded this event certainly looks foolish now, perhaps especially with the inclusion of the lobbyist group.  That shouldn’t be a big surprise, however, since the lobbying industry feasted on the opportunities presented by Obama in his stimulus package and ObamaCare.  Lobbyists have been grateful to Obama ever since.

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Uh, we’re, uh, gonna need a bigger, uh, Memory Hole.

- The Commie

OhEssYouCowboys on September 4, 2012 at 2:04 PM

I bank with Wells Fargo. And I used to bank with BofA. Bastards.

Doughboy on September 4, 2012 at 2:04 PM

Lobbyists?

But, but…..

1921 C DRUM on September 4, 2012 at 2:05 PM

“We… Are… The… Wait, who are we again? Are we 1% or 99%? We’re going to need some more Cheetos.”

- Occupy Wall Street

Punchenko on September 4, 2012 at 2:06 PM

ha..haha..hahaha..hahaHAHA…HAHAHAHAHAHAHAHA!

Libfree, this is where you come in, this is your moment to shine, to explain just how transformative President Bark really is.

Bishop on September 4, 2012 at 2:06 PM

We don’t need no steenking lobbyists!

1921 C DRUM on September 4, 2012 at 2:06 PM

Sidebar:

I apologize for implying that The Commie has ever read Orwell.

OhEssYouCowboys on September 4, 2012 at 2:08 PM

Glad I stopped banking with Wells Fargo just a couple months ago.

changer1701 on September 4, 2012 at 2:08 PM

To be fair, the Fascist-Democrats only want to cover up part of the Bank of America sign. The America part.

rbj on September 4, 2012 at 2:08 PM

I thought they hated banks because they were foreclosing on people squatters.

Oil Can on September 4, 2012 at 2:09 PM

When you run a political party and convention based on lies…

… when the truth comes out, where do you go from there?

Seven Percent Solution on September 4, 2012 at 2:09 PM

Dems set to move Obama’s acceptance speech to 20,000 seat arena?

crazywater on September 4, 2012 at 2:09 PM

Those styrofoam columns are looking a bit tattered this time around.

Bring on the mini Stonehedge and dancing midgets.

Bishop on September 4, 2012 at 2:11 PM

Glad I stopped banking with Wells Fargo just a couple months ago.

changer1701 on September 4, 2012 at 2:08 PM

My mortgage is with those jackwagons.

Bitter Clinger on September 4, 2012 at 2:12 PM

To be fair, the Fascist-Democrats only want to cover up part of the Bank of America sign. The America part.

rbj on September 4, 2012 at 2:08 PM

Sweet.

And they want to use a paint brush, full of red paint, to slather the words “of the People,” after “Bank.”

OhEssYouCowboys on September 4, 2012 at 2:13 PM

The DNC will eventually move their convention to a peep show booth.

With a glory hole.

And “Tingles”.

1921 C DRUM on September 4, 2012 at 2:14 PM

Will Burton be screaming anything about Goebbels and the “Big Lie”?

OhEssYouCowboys on September 4, 2012 at 2:15 PM

“You didn’t build that”.

Schadenfreude on September 4, 2012 at 2:15 PM

Winning
The
Future

search4truth on September 4, 2012 at 2:15 PM

I hate corporations.

They are pure evil.

And they have chains.

CorporatePiggy on September 4, 2012 at 2:15 PM

But Koch brothers, Halliburton..Obama is awesome.

HumpBot Salvation on September 4, 2012 at 2:16 PM

Look what else they do, the degenerate liars and hypocrites.

Schadenfreude on September 4, 2012 at 2:16 PM

Bring on the mini Stonehedge and dancing midgets.

Bishop on September 4, 2012 at 2:11 PM

Everyone knows that midgets are an important group for the GOP.

faraway on September 4, 2012 at 2:16 PM

Considering all the verbal gymnastics democrats will go through to avoid saying “Bank of America Stadium” I think it’s sorta funny that they’ll still take their money.

Scrappy on September 4, 2012 at 2:17 PM

Democrats Need runs a world in need.

portlandon on September 4, 2012 at 2:17 PM

Someone in the DNC must have naked pictures of these bank executives for them to be willing to shell out all this money to a political party who can’t even say their name. Just tell me there isn’t gold in them thar hills.

bflat879 on September 4, 2012 at 2:17 PM

“Forward” and “Progress”, heh, degenerates.

Schadenfreude on September 4, 2012 at 2:20 PM

I bank with Wells Fargo. And I used to bank with BofA. Bastards.

Doughboy on September 4, 2012 at 2:04 PM

They’re both my friggin banks, pretty convenient here in Cali too, one of them is a west coast bank primarily, plenty of branches and ATMs from both too, but then I bank online most of the time..wells fargo, I have to give them that thou, they are very pro and good at what they are doing , BofA on the other hand, I hate their guts and their services, it’s just that I have been awfully lazy to change it, though I bave been wanting it for a long time…will do..

jimver on September 4, 2012 at 2:20 PM

Just leave the money on the dresser….

1921 C DRUM on September 4, 2012 at 2:20 PM

Schadenfreude on September 4, 2012 at 2:16 PM

Indeed and individual lefties tend to have things like IRAs and 401ks and they will contain mutuals.

Mutuals that invest in, amongst other things

- Financial Services Companies like BoA
- Evil NewsCorp
- Arms companies
- Oil companies

Basically every bad guy in the liberal playbook.

I am certain all of MSNBC’s ‘talent’ has investments in range of morally repugnant evil corporations.

CorporatePiggy on September 4, 2012 at 2:22 PM

Will we get Tim Robbins making a speech about how corporations are evil, sitting in their corporation building being all corporation-y?

teke184 on September 4, 2012 at 2:27 PM

despite more than a year of insistence from DNC officials that corporate money would not be taken to pay for the event:

…oh oh!…”incomplete” again!

KOOLAID2 on September 4, 2012 at 2:28 PM

BOMBSHELL DRUDGE: Dems remove from their plank:

- “Jerusalem is and will remain the capital of Israel. ”
- all references to the word ‘God’ has been eliminated

faraway on September 4, 2012 at 2:29 PM

Post-Eastwood Democratic slogan:

Obama/Biden 2012 – A butt in every chair

exhelodrvr on September 4, 2012 at 2:29 PM

And Wells Fargo.

Aww, crap. Well, off to make a withdrawl. I apologize for funding the Democrat convention but I wasn’t aware of it.

Buddahpundit on September 4, 2012 at 2:31 PM

The stupid parasites who constantly vote for liberals do not give a damn about the incredible hypocricy of their leaders bashing the banks and corporation in public and then taking money donations from these same banks and corporation… As long as these parasites are getting their handouts from the tax payers they will keep voting for those liberal thieves who are stealing the tax payers money and giving them some of it…

mnjg on September 4, 2012 at 2:31 PM

- “Jerusalem is and will remain the capital of Israel. ”
- all references to the word ‘God’ has been eliminated

faraway on September 4, 2012 at 2:29 PM

Jews of Florida and New York should take note.

Bishop on September 4, 2012 at 2:34 PM

So, in addition to what the taxpayers already pay to fund these useless political extravaganzas, these financial institutions are contributing what they make from customer money deposited in their banking divisions or maybe they’ll be passing on costs to taxpaying customers so they can fund these contributions. They sure got it made, don’t they, courtesy of the hardworking American taxpayer.

stukinIL4now on September 4, 2012 at 2:35 PM

Out of curiosity have conventions always been funded this way? Did corporations fund the republican convention? Good to have the facts if asked that question. Not expecting the metworks to point any of this out. That said I’ll have to read about it online I just cant listen to any of it. Nothing they say can surprise me at this point.

ldbgcoleman on September 4, 2012 at 2:36 PM

Corporations are bad.

Unless they’re giving us money.

then they’re….uh…..still bad.

(suckers).

/DNC

Tim_CA on September 4, 2012 at 2:37 PM

Bring on the mini Stonehedge and dancing midgets.

Bishop on September 4, 2012 at 2:11 PM

Thanks for the Spinal Tap reference!

chelie on September 4, 2012 at 2:40 PM

$36.7 million fundraising goal

$20 million – Companies including Bank of America Corp. and Wells Fargo & Co. (WFC) have contributed

Hmmmm, math is hard.

Does this mean that they miss their fundraising goal by +/- 70%

They are gonna lose big time. I would love to be a fly on the wall in the internal meetings for these clowns. Can you just imagine the fights breaking out and the furniture flying around that room while trying to assign blame for the failures.

D-fusit on September 4, 2012 at 2:40 PM

I bank with Wells Fargo. And I used to bank with BofA. Bastards.

Doughboy on September 4, 2012 at 2:04 PM

When you have an extortionist/vindictive regime which is also given to imposing its will by fiat, via executive orders, I can’t blame any company for shelling out, particularly BOA, who probably also kicked in to help their city convention committee save face.

The real bastards here are the Democrats and the Empty Chair, not private companies looking after there own necks and profits.

My hope is that it pours down rain in the open stadium on the night ECOTUS is to speak.

TXUS on September 4, 2012 at 2:41 PM

To be fair, the Fascist-Democrats only want to cover up part of the Bank of America sign. The America part.

rbj on September 4, 2012 at 2:08 PM

indeed…I just LOVE all the “American flags” and “flag waving” background videos being shown at the DCC…Progressives/Liberals/Marxists/Communists/Unionists sure love (the Fundamentally Transformed) Amerika…even though their “Amerika” doesn’t exist….yet…

Strike Hornet on September 4, 2012 at 2:42 PM

Why do the Dems even bother? I’ve already seen official logos behind guest talking heads that say

Democratic National Convention
sponsored by
Bank of America (big corporate logo, not just text)

Cat’s already out of the bag.

Vatican Watcher on September 4, 2012 at 2:47 PM


You’re beautiful more beautiful than me
You’re honorable more honorable than me
Loyal to the Bank of America

Lol, those prog rockers R.E.M. have that lyric blow up into their faces just 25 years later.

the new aesthetic on September 4, 2012 at 2:50 PM

Why on earth would BofA and Wells Fargo donate to them, especially for the democrat convention?

If I were the BofA powers that be, I might have said, “you quit calling it panther stadium, call it at least 10 times during the convention “Bank of America stadium” thank us for the use of Bank of America stadium and will pitch in a mill.”

I tell you, they gave away their hand cheap.

DuctTapeMyBrain on September 4, 2012 at 2:52 PM

However, they did indicate it is customary to cover signage at any arena or stadium to help branding for the convention.

Is that why those religious symbols and signs were covered for Mr. Obama’s speech at Notre Dame? There was going to be only one god at the speech????
/questions.

ted c on September 4, 2012 at 2:57 PM

DNC guests to party with donors, special interests

— Sep. 4 2:51 AM EDT
*********************
**********************

On Monday, the Distilled Spirits Council threw a bash at the North Carolina Music Factory.
***********************

On Wednesday, the Recording Industry Association of America is planning a party at the Fillmore benefiting the

“Musicians on Call” charity.
*****************************

All week long, telecom companies, home builders and tech firms will be hosting events nearby.

Such an atmosphere is hardly unique; conventions usually create intersections of lobbying and power. Democratic donors complained early in Obama’s administration that they were kept at arm’s length, but since then the president has opened his White House to contributors for events like state dinners and meetings with policy advisers.

Pharmaceutical giant Pfizer is hosting a handful of events
**********************************************************

this week, according to a review of invitations collected by the Sunlight Foundation, which advocates greater government openness. Just last month, Pfizer agreed to pay the federal government $60 million to settle allegations that its employees bribed doctors and other foreign officials in Europe and Asia to win business and boost sales.

Meanwhile, one of Pfizer’s top executives, Sally Susman,
********************************************************

is a major fundraiser for Obama and helped raise between $200,000 and $500,000 for his campaign,
*******************************

records show.

Representatives for Pfizer did not immediately return calls seeking comment Monday.(More..)
===============================

http://bigstory.ap.org/article/dnc-guests-party-donors-special-interests#overlay-context=article/obama-embraces-young-crowds-convention-warm

canopfor on September 4, 2012 at 2:58 PM

So have y’all seen the new fancy ( Ch) Air Force 1 , made specially for Hussein ?

burrata on September 4, 2012 at 2:15 PM

heh> chAir Force 1

ted c on September 4, 2012 at 2:58 PM

…OWS will mourn…and the New Black Panther party will be yelling …”crackers”!

KOOLAID2 on September 4, 2012 at 3:01 PM

Dems take $20 million in corporate money for convention

Well, yea, but it’s different when Democrats take corporate money – because – You’re racist!
.
libs

LincolntheHun on September 4, 2012 at 3:02 PM

♪♫ Ohhh! The Wells Fargo wagon is a comin’ down the street!
Oh, don’t let him pass my door!
The Wells Fargo wagon is a comin’ down the street!
I wish I knew what he was comin’ for! ♪♫

♪♫ I got pork kickbacks from Wall Street last September… ♪♫

Sing along!!!!

Glenn Jericho on September 4, 2012 at 3:20 PM

Bring on the mini Stonehedge and dancing midgets.

Bishop on September 4, 2012 at 2:11 PM

Um, I’m pretty sure midget is racist (mental + midget = Obama = you hate black people).

Better off sticking with “Little People.” Especially since that’s what we all are to Barry anyhow.

pain train on September 4, 2012 at 3:36 PM

Well, THAT’S IT! No way I’m giving money to this ridiculous party now! /

TarheelBen on September 4, 2012 at 3:37 PM

BOMBSHELL DRUDGE: Dems remove from their plank:

- “Jerusalem is and will remain the capital of Israel. ”
- all references to the word ‘God’ has been eliminated

faraway on September 4, 2012 at 2:29 PM

And will henceforth be replaced with “Messiah.”

pain train on September 4, 2012 at 3:40 PM

And Wells Fargo.
Aww, crap. Well, off to make a withdrawl. I apologize for funding the Democrat convention but I wasn’t aware of it.

Buddahpundit on September 4, 2012 at 2:31 PM

Me too dang it! Been with Wells for 25yrs.

Did they reciprocate for the GOP at all?

ccrosby on September 4, 2012 at 3:42 PM

Not sure it’s fair to say the money’s going to these banks, that is, as business entities, but rather to those individuals who run them.

Dr. ZhivBlago on September 4, 2012 at 3:58 PM

Oh, let me add what I was thinking but forgot to type as a preface to my above post…they give money to Obama, but the only reason is that they’re going to get more money back from (us) if he wins re-election.

Dr. ZhivBlago on September 4, 2012 at 3:59 PM

I was watching the Mark Harmon / Secret Service arc on The West Wing yesterday (I know, I know – so sue me…I’m a fan of Mark Harmon). In one episode the TV networks want to only cover the acceptance speeches and ballon drops (“Everybody loves balloons”)- an hour for the each of the conventions. One of the ideas the presidential aides were throwing around to gin up interest was corporate sponsorships. I guess it’s life imitating art.

As an aside, it’s truly frightening the parallels between that show and the freak show we’ve got in the White House now.

Mitoch55 on September 4, 2012 at 4:26 PM

Why are these corporations giving a dime of their money to the stupid dims? Are they hoping for a good word from them, mayabe just a sliver of human kindness? They are fools for giving them any money and they get what they deserve. They have beeen demonized, had their lives threatened and their families put in danger, business disrupted by the dims. And they are looking for something good from them?

megthered on September 4, 2012 at 4:30 PM

A reliable source tells me that Wells probably did the same for the RNC. Before you all bail on Wells Fargo, check on it. I would bet, like any big outfit they are playing the lobby game. Wells did not want to take bailout money from this admin but were ordered to Washington and have paid it all back with interest. They were purchasing Wachovia at the time and I would bet were told that if they wanted Wachovia, they had to play with obama.They are typically a conservative minded company so don’t be in a rush to hang them to dry.

crosshugger on September 4, 2012 at 4:34 PM

So, the guy who swore he wouldn’t take lobbyist money in 2008 and would only use public funding when he ran for Preezy, who was the same guy who declined to use SuperPACs in the 2012 election cycle, has actually changed his mind about the high principles he has upheld so far, just for the sake of dirty, filthy money?
I am just so shocked…

DublOh7 on September 4, 2012 at 5:16 PM

crosshugger on September 4, 2012 at 4:34 PM

Thanks, I hate changing banks!

ccrosby on September 4, 2012 at 5:55 PM

I’ve never liked Wells Fargo even though I have family who’ve worked for them for years and my wife has banked with them since we got married 25 years ago. They nickel and dime their account holders with ridiculous fees and rules. Me – I have my own account with a local bank and I like it that way. Now I have another reason to despise Wells Fargo and BofA.

HoosierStateofMind on September 4, 2012 at 9:19 PM