President Obama walks on both sides of Wall Street

Washington Examiner ^ | 11-8-11 | Examiner Editorial

[Driftwood1]

On the one hand, there is the former community organizer Obama. This Obama has made it clear in recent weeks that he is at one with the Occupy Wall Street protesters, saying, for example, when ABC asked how he viewed the demonstrators, that "the most important thing we can do right now is those of us in leadership letting people know that we understand their struggles and we are on their side. ..."

Obama coming down on the side of demonstrators carrying signs demanding the arrest of investment bankers and other "masters of the universe" shouldn't come as a surprise because bashing "the rich" and "the one percent" has been among the chief executive's favorite rhetorical gambits. Readers may recall the December 2009 tongue-lashing that the president delivered right before meeting with a delegation of Wall Street and big bank executives: "I did not run for office to be helping out a bunch of fat cat bankers on Wall Street," Obama said. "They're still puzzled why is it that people are mad at the banks. Well, let's see. You guys are drawing down $10, $20 million bonuses after America went through the worst economic year that it's gone through in -- in decades, and you guys caused the problem. And we've got 10 percent unemployment." Such comments are of a piece with Obama's virulent class warfare rhetoric about "millionaires" and "corporate jets."

[Driftwood1]

But then there is the Obama who is more than happy to accept high-dollar contributions from every Gordon Gecko on Wall Street. As the Washington Post recently reported, Obama has accepted more money -- more than $15.6 million -- from these people than all of the Republican presidential aspirants combined (aided significantly by the fact that contributors can give to both Obama and the Democratic National Committee). No wonder Opensecrets.org ranks the financial sector as one of the five most generous industries in contributions to the Obama re-election effort. By comparison, the most successful GOP fundraiser, Texas Gov. Rick Perry, has generated a mere $2 million from the Wall Street fat cats. Obama has even gotten more campaign money from Bain Capital, the consulting firm Romney managed before becoming a presidential candidate, than Romney has.

[guitarplayer1953]

Bo is worth 10.5 million what does that make him a 2%?

[USFRIENDINVICTORIA]

The discrepancy is easily explained: it's the difference between giving to a politician, and buying one.

[griswold3]

Wall Street is a ‘progressive’ bunch make no mistake about it.
Compare the $77B made during Bush’s eight years to the $83B made during Obama’s TWO years. WS just paying dues to Obama.

[TheOldLady]

Click the Pic             Thank you, JoeProBono

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