Financial Sector Helps Barack Obama Score Big Money for Re-election Fight

[Donnachaidh]

http://www.opensecrets.org/news/2011/07/financial-sector-helps-barack-obama.html

President Barack Obama has relied more on well-connected Wall Street figures to fund his re-election than he did four years ago when he campaigned as an outsider and an underdog.

One-third of the money Obama's elite fund-raising corps has raised on behalf of his re-election has come from the financial sector, according to a new Center for Responsive Politics analysis.

Individuals who work in the finance, insurance and real estate sector are responsible for raising at least $11.8 million for Obama's campaign and the Democratic National Committee, according to the Center's research. All of Obama's bundlers have raised a minimum of $34.95 million, as OpenSecrets Blog previously reported.

During his entire 2008 presidential bid, bundlers who worked in the finance, insurance and real estate sector were responsible for a minimum of $16.1 million, according to the Center's research. That's about 21 percent of the $76.5 million estimated minimum amount that these top fund-raisers brought in for Obama's presidential campaign.

More at the link ---

And we wonder WHY seniors and the poor are going to take it in the neck for tax breaks for Wall Street? Better throw out the argument that Wall Street hates Obama -- it's not true anymore.

[Sarah Ibarruri]

1. Hmm... I'm unhappy with this. nt

[tularetom]

3. Yeah, kinda makes you go "hmmm", don't it?

The big money boys are happy enough with what he's doing to shower him with cash and the market seems unfazed with the "uncertainty" of the outcome of the debt ceiling debate.

What I think is this: a deal has already been made and the insiders know it. That's why the market hasn't gone down the tubes already. If this thing was as unsettled as the press portrays it, the Dow would be bouncing around like crazy - four, five hundred points a day, and the general trend would be down.

Furthermore, the fact that the financial services sector is willing to make such large contributions to Obama tells me that we aren't gonna like what ultimately goes down.

I guess congressional Democrats are our only hope.

[Sarah Ibarruri]

7. Yes. Right now I abhor Wall Street, unbridled capitalism, Ayn Randist, the fascist GOP, churches

My list keeps growing. Soon I'll be adding anyone who sides with that list.

[banned from Kos]

2. Anyone who owns any Treasuries should be backing President Obama

the Party of No is threatening to undermine the entire Financial Sector.

Yesterday on CNBC it was a 12 hour long gripefest about Dodd-Frank too. Not everyone in the financial sector is sleazy - it just seems like it.

[ej510]

4. Why is anyone surprised by this? I will say it once again. Look at his cabinet.

[checks-n-balances]

5. I'm sure they'll be handsomely rewarded, too

and we'll see more of the same bs moves from him.

[OHdem10]

6. The Seniors and the Poor will take it in the neck.