Obama still flush with cash from financial sector despite frosty relations

[alp227]

Source: Wash. Post

Despite frosty relations with the titans of Wall Street, President Obama has still managed to raise far more money this year from the financial and banking sector than Mitt Romney or any other Republican presidential candidate, according to new fundraising data.

Obama’s key advantage over the GOP field is the ability to collect bigger checks because he raises money for both his own campaign committee and for the Democratic National Committee, which will aid in his reelection effort.

As a result, Obama has brought in more money from employees of banks, hedge funds and other financial service companies than all the other GOP candidates combined, according to a Washington Post analysis of contribution data. The numbers show that Obama retains a persistent reservoir of support among Democratic financiers who have backed him since he was an underdog presidential candidate four years ago.

Obama’s fundraising advantage is clear in the case of Bain Capital, the Boston-based private equity firm that was co-founded by Romney and where he made his fortune. Not surprisingly, Romney has strong support at the firm, raking in $34,000 from 18 Bain employees, according to the analysis of data from the Center for Responsive Politics.

Read more: http://www.washingtonpost.com/politics/obama-has-more-cash-from-financial-sector-than-gop-hopefuls-combined-data-show/2011/10/18/gIQAX4rAyL_singlePage.html

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Fox Business and former CNBC reporter Charles Gasparino wrote a whole book on Obama/Wall Street ties, Bought and Paid For: the Unholy Alliance between Barack Obama and Wall Street, published by Simon & Schuster's conservative division Sentinel.

[russspeakeasy]

1. Then he won't need any of mine...

[emilyg]

2. You beat me to it.

[boppers]

3. Cute spin. He also raised more money from those dirty, evil, corrupt... teachers?

But hey, ignore that fact, because it sounds nefarious to shine a light in one corner, and try to make that into the whole issue.

"Obama raised more money in every sector, than every republican"... not "newsish" enough, doesn't insinuate something, doesn't try to link two (and only two) things together...

"Obama still flush with cash from financial sector despite frosty relations" sets up a false narrative, that will be happily lapped up by people wanting to blame Obama for something/everything/whatever.

[Divernan]

8. Got a link? a quote? Actual amounts? Who's spinning whom here?

Nothing in the linked article about teachers. Please back up your claim with links & quotes, including exact amounts donated by teachers to Obama vs. GOP candidates.

[alfredo]

4. Businesses always hedge their bets when it comes

to political spending. Not everybody in the financial sector is a crook, but it might take a few lifetimes to find an honest one.

[madrchsod]

5. they know he`s not crazy enough to blow up the whole god dam thing

they are afraid of the people in the republican/tea party that they can`t control.

[defendandprotect]

6. Maybe Obama will donate the $$$ for housing for the poor -- or for health care clinics for the many

Americans suffering without health care?

[Dragonfli]

7. Only if someone gets to profit off of it /nt

[Tarheel_Dem]

9. Is this another "Small Donors Slow to Return to the Obama Fold" type stories?

:rofl:



:hi:

[dreamnightwind]

10. RNC - DNC money is not a fair comparison

I pretty much never defend Obama and his Wall Street coziness infuriates me.

To be fair, though, most of this money is DNC money, not just Obama money. When the Republicans have picked a candidate, that candidate will then get the lion's share of the RNC money, and a fair comparison can be made.

Some others here no doubt have a deeper understanding of this than me, I am just pointing out an inconsistency I hadn't seen addressed in this thread.