Obama Seeks to Win Back Wall St. Cash

[onehandle]

Source: New York Times

WASHINGTON — A few weeks before announcing his re-election campaign, President Obama convened two dozen Wall Street executives, many of them longtime donors, in the White House’s Blue Room.

The guests were asked for their thoughts on how to speed the economic recovery, then the president opened the floor for over an hour on hot issues like hedge fund regulation and the deficit.

Mr. Obama, who enraged many financial industry executives a year and a half ago by labeling them “fat cats” and criticizing their bonuses, followed up the meeting with phone calls to those who could not attend.

The event, organized by the Democratic National Committee, kicked off an aggressive push by Mr. Obama to win back the allegiance of one of his most vital sources of campaign cash — in part by trying to convince Wall Street that his policies, far from undercutting the investor class, have helped bring banks and financial markets back to health.

Read more: http://www.nytimes.com/2011/06/13/us/politics/13donor.html

[BridgeTheGap]

1. Cash is still king? n/t

[Atman]

2. Because he's been sooooo unkind to them, what with record profits, record bonuses, etc.

WTF more do the multi-billionaires want from Obama, to be made a sovereign state? Jesus fucking Christ!

[Scuba]

3. +1

[ixion]

4. "to be made a sovereign state?" In essence, yes, that is exactly what they want.

control over their fiefdoms with no interference.

[qb]

5. I've never understood how so many on Wall Street can believe a national economy wrecked

by permanent tax cuts is good for their long-term financial health.
Is it too much to hope that Obama can talk some sense to them?
I hope he can.

[bertman]

9. Here's how, qb: those Wall Streeters have MILLIONS or hundreds of MILLIONS

in "earnings". They live in luxury and have their own security teams. They manage their businesses from afar or via internet. Their investments are in foreign stocks in enterprises far from our shores. They hobnob with 'their kind'.

They have an endless supply of cheap labor to take care of their every whim because the working class Americans who have nothing have to do something to survive. If the Americans tell them to fuck off, they hire immigrants (illegal) who are too scared and desperate to worry about things like benefits or job-site safety or sexual harrassment.

The police and Dept of Homeland Insecurity are there to protect THEM, not the American workers.

It's really the same as feudalism. The new 'aristocracy' with their American serfs to make their lives comfy.

[russspeakeasy]

11. they don't care about longterm...only their immediate generation.

[xchrom]

6. recommend

[JJW]

7. What?

When did Obama ever stop handing Wall Street trillions of dollars of tax payer money? He is Wall Street darling. He was never into the working class. Elizabeth Edwards was the one who promoted populism, making life very uncomfortable for the corporate clowns, Hillary and Barry.

[BeyondGeography]

8. Embarrassing...these people are useless and destructive

Then again, the whole sold-out, limping along but ain't we great country is a bit of an embarrassment. Prez O is by far the less embarrassing embarrassment, so I'll stick with him. But this is, um, embarrassing.

[yodermon]

10. funny.. i read the OP subject line as "Saint Cash" n/t

[Atman]

13. The Wall of St. Cash

Is that like the Wailing Wall? Made out of money?

.

[russspeakeasy]

12. He may want to set his sights a little lower and try to win some of us

back.

[aquart]

17. Eh. He knows we don't have any money.

And the Republicans are working real hard to make sure we can't vote.

[SusanaMontana41]

24. Exactly, russpeakeasy.

Getting into my wallet for Election 2012 will be tough because I was laid off. Show some spine, Mr. President, and get me into the voting booth.

[Yo_Mama]

14. Well, gee, that's been obvious!

Next time I might as well vote Republican so at least Democrats will complain about this sort of thing.

Apparently when Democrats do it we're all just supposed to stand around and applaud? What's happening to this country?

[AndyTiedye]

20. "Citizens United" Happened

The Democrats are going to need billions of dollars to win this election, because the Republicans will have (even more) billions.

[Joe Bacon]

15. Depressing

Nothing more to say...

[aquart]

16. I hope whatever they buy with those bonuses kills them.

I have not one charitable thought for those lying, greedy thieves.

[Hell Hath No Fury]

18. And THAT is his fucking problem right there.

"...Win Back Wall St. Cash"

When they finance you, they fucking OWN you.

Obama, you were all but bought and sold the first go around, and now you are going back to that same poisoned trough. You should be ashamed of yourself. It would be on ething if it were just you choking on it, but we are all suffering because of it. :mad:

[primavera]

19. All of the hundreds of billions...

... in tax payer bailout monies he's gifted them wasn't enough to convince them that he's their whore?

[AndyTiedye]

21. The Wall Street Bailouts Started Under Bush

[Hell Hath No Fury]

22. And O voted for it.

And continued the bad with "stimulus" that was far too heavy on tax breaks and short on real stimulus: cold, hard cash.

[lib2DaBone]

23. Who would have thought?

that a constitutional scholar.. a black man and family man... could be so clueless and out of touch with working people?

What a disappointment he has been.

[Enrique]

25. this script is so phony

does Wall Street care about whether the president calls them names? Of course not. They care about how much money they're making and they're making tons of it under Obama. They backed him big time in 2008 and they're going to back him big time in 2012 and they know they're going to get their money's worth from him.

[DesertDiamond]

26. They are waiting until we are desperate enough to sell ourselves into slavery, their slaves

[Dragonfli]

27. Close but incorrect, they want to just claim us as slaves, no option to sell anything,

If they were satisfied with only waiting for us to "sell ourselves into slavery", then it would cost them something.
They want our work, and our money (our SS funds) without any intention of it costing anything more than a few well placed bribes to pols like Obama and Romney.

It's a better deal that way, a million in political bribes (called "donations") reaps hundreds of billions in returns via favors or outright cash awards. Pretty cheap if you already have billions, don't you think?

[classysassy]

28. DEMOCRACY

MY BUTT,WE WILL NEVER BE A DEMOCRACY UNTIL WE GET RID OF THE MONEY IN POLITICS,OUR VOTE IS WORTHLESS UNDER THIS SYSTEM.o(NE MAN ONE VOTE IS A CRUEL JOKE.

[Javaman]

29. Oh please. Citizens United called off all bets.

the door has been removed from the hinges. It's nothing but big money and special interests that control washington now.

Trying to believe this charade that Obama is actually going to hold anyone, who is above the 1 million pay grade, accountable is not only laughable but down right psychotic.

We are dying.