Posted on 06/14/2011 1:23:46 PM PDT by Fred
The chief executives at the big Wall Street banks likely will be noticeably absent from next week's $38,500-a-head dinner/fundraiser for President Obama in New York City, an indication that the heads of the big firms are still hedging their bets before throwing their support to either Republicans or Democrats as the 2012 presidential election approaches, FOX Business has learned.
The fundraiser, to be held at Daniel, a swanky upper-East Side eatery that caters mainly to well-to-do New Yorkers, is being hosted mainly by a coterie of private equity and hedge fund executives, many of them long-time Obama supporters.
But absent from both the list and likely attendance will be the chief executives at banks such as JPMorgan (JPM: 41.59, -0.08, -0.19%), Bank of America (BAC: 10.78, -0.18, -1.69%), Citigroup (C: 38.78, -0.39, -1.00%), Goldman Sachs (GS: 137.29, -0.24, -0.17%), Blackrock (BLK: 192.63, +3.70, +1.96%) and Morgan Stanley (MS: 22.76, -0.60, -2.57%). The no-shows are in sharp contrast to the situation in 2007, when CEOs and top executives at major banks joined the president at a dinner reception at a Washington restaurant named Johnny’s Half Shell.
At that meeting, the Wall Street elite's primary introduction to then-candidate Obama, several top CEOs of major banks, such as Larry Fink, the CEO of Blackrock, and Gary Cohn, the president of Goldman Sachs, were among the Wall Streeters in attendance. Both are not scheduled to attend next week’s fundraiser.
Following the 2007 meeting, the president went on to vastly out-raise John McCain during the 2008 election cycle and eventually win the presidential election.
(Excerpt) Read more at foxbusiness.com ...
>>> Street’s ‘Fat Cats’ Won’t Be Out in Force at Obama Fundraiser
“What nice junkets you have there, would be a shame if anything happens to it.”
“I am the only one standing between you and the pitchfork folks....”
Obama can only offer pay for play or presonal perks to these guys.
There is no other way for a rational businessperson to support this disastrous fool.
Actions speak louder than words. In spite of demonizing the Health Insurance companies, he still shoved through and signed a bill that required all Americans to buy Health Insurance - some thing they have wanted for decades, and as rising premiums have shown, their policies are no more affordable now than they were before.
All in all his “elite” wealthy contributors have all been amply rewarded, from GE, Car Companies, Unions brass, health ins. companies, and Financials to name just a few.
What you say is true...generally.
But the disparity between what McCain raised on Wall Street and Obama's contributions was shocking.
For example, McCain received just under $250,000 from Goldman-Sachs. But the same firm's contributions to Obama were over 10-t0-1 higher.
Goldman is a big dem firm — its the dem’s “haliburton”; if that analogy was in anyway accurate.
Yes, there was a huge disparity - I agree. But you got to admit that it paid off. They were the only company that was able to finagle around and get out whole.
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