How White House Wooed Wall Street in Debt Debate

wsj ^ | 080411 | AARON LUCCHETTI, DAN FITZPATRICK and LIZ RAPPAPORT

[ken21]

The message from administration officials: contact key senators and congressman in both parties to tell them that an agreement was crucial for business confidence and the economy. Last Thursday, banks sent an open letter to President Barack Obama and Congress, urging compromise.

[ken21]

if you can't access the whole article, type the title into a search engine and look around.

that's how i found this one that had a daily "pass" to get in free to access the whole article.

[pepsionice]

Business confidence in America isn’t exactly glowing. So if Wall Street did hint it would help...it was like a miner asking for a 1-watt bulb in a dark tunnel...just to have that glimmer of hope. Desperation would make a 1-watt light....better than nothing at all. That’s the sad state of business in America, and our enthusiasm for better economic times.

[Lazlo in PA]

Often at odds since the financial crisis, banks and the White House found themselves on the same side in recent weeks as they worked to back a compromise that would fend off a default by the U.S. government.

Well that worked out fantastically today. How much did the Dow dropped?

[eyedigress]

Obama is an idiot. That’s all it is.

[BobL]

I guess the REAL reviews are coming in now.

I wonder if the Republicans feel proud of themselves today.

[GeronL]

How did that work out for them?

heh

[GeronL]

About 4.3% of its value.

[sickoflibs]

‘Obama is Wall Street’s sugar daddy’ now ping!

[stephenjohnbanker]

Goldman Sachs was the biggest Wall Street donor to Obama

[goodnesswins]

Hey...RINO’s....How’s that HOPE and CHANGE workin’ out for ya!

[Luke21]

It takes three people to write this slop? Asspress only needs two.

[steveab]

“Goldman Sachs was the biggest...”

I find it amazing that the night before the debt ceiling was signed into law “Wall Street” started selling off in Japan based on what would be Bad Economic news which would be public information few days later. I wonder who sold and made a ton of money before that information became public?

[devolve]

[americanophile]

...made them an offer they couldn’t refuse.

[Jack Hammer]

One reads that Russian financiers had confidence in Lenin, too, until the revolution was completed.

[stephenjohnbanker]

Look no further than GS.

[Marine_Uncle]

RE: "‘Obama is Wall Street’s sugar daddy’ now ping!"
According to Charles Gasparino's book Bought and Paid For, Obama was in with the big wall street banks before he became POTUS. They supported him in full style.