The president's campaign struggled this week to sell out a fundraising dinner Friday at Manhattan's gilded Four Seasons restaurant despite its being hosted by America's No. 1 capitalist, Warren Buffett, according to people close to the campaign who were not authorized to speak publicly. The dinner for 100 was also a relative bargain at $10,000 a plate; recent fundraisers in Hollywood and New York have gone for $35,800 a pop.I wonder why Wall Street or some people in Wall Street would be upset. I guess salvaging a crashing stock market that was heading south was not good enough. Oops, implementing one of the most sweeping change in the financial regulatory system since the Great Depression to make sure some idiots won't exploit America into the gutter ain't good enough. Oh well, may be because some detached greedy people don't have two or three luxurious jets or vacation homes, they are just pissed. Whatever the reason, them old days are gone while they are looking to revert to the comfortable life style of the rich and famous on the expense of the 98% of Americans struggling to make ends meet. Hey when you have a Republican Presidential Candidates lined up and catering to Wall Street and ignore the American People, it doesn't surprise me to read what the LA Times selectively writes.
The episode highlights a worrying trend for the Obama campaign. Wall Street, a key contributor to Obama in 2008, seems to be switching allegiances.
"His record has been one of reform and that has been an uncomfortable process for some of the major sources of political cash," said Sheila Krumholz, executive director of the Center for Responsive Politics, which tracks political fundraising.
Or as one big-ticket Wall Street fundraiser for Obama put it: "It's more difficult this time around."
The LA Times goes on to claim that these Wall Street folks are catering towards Romney because Romney sold out a breakfast fundraiser and the Obama campaign did sell out too, but ouch...he struggled to sell out a fundraising dinner. Quite an exaggeration if you ask me but whateva sells papers...right? More adulterate pimping of Romney or fact-less assertion by the LA Times authornotes:
Wall Street appears to be lining up behind Republican Mitt Romney, who became Massachusetts governor after founding private-equity firm Bain Capital. He held a sold-out breakfast fundraiser at the exclusive Essex House hotel Tuesday [hey Romeny did not struggle to sell seats I guess]. That was preceded by a breakfast with one of the biggest names on Wall Street, JPMorgan Chase & Co. CEO, Jamie Dimon.
Dimon, a Chicagoan who at one point was rumored to be in contention for Obama's pick as Treasury secretary, has not made any donations this year.[I guess he is pissed that he was not picked as Treasury secretary] His private breakfast with Romney was viewed as a defection of sorts and a natural outgrowth of his recent criticism of the Obama administration's push for regulation.
Oh my, how pitiful of a reporting that was and more importantly it had no factual basis but many conclusions and assertions made based on the authors shewed opinion which is quite amusing to read if you ask me but sad and very persuasive to make the Obama campaign look like it is in a life support. Well folks, this kind of reporting might disappoint you but this is what we have to work against.
Mind you, JB Morgan got $25 Billion from tax payers as part of the TARP fund. In fact, JB Morgan and all of them Wall Street banks were so profitable, they paid all of the money plus interest back to the Government that extended them a loan so that they can get out of the deep hole they were in. Hey, now it is time to go back to them days where them Wall Street thugs can role millions and billions and who is best to give them that? I guess Romney has promised to repeal the financial reform bill and he has bought access to hang with the CEO of JB Morgan having breakfast and collecting fat checks. Oops...
USA Today reports that Romney's fundraising is skidding in the article Mitt Romney's presidential fundraising drops:
Republican presidential candidate Mitt Romney's fundraising has dropped off from his nearly $18.3 million fundraising haul in the previous fundraising quarter. Instead, the former Massachusetts governor is on pace to raise $11 million to $13 million during the July-to-September fundraising quarter that ends today, The Boston Globe has reported, citing an unnamed source.
Ok...that is another unnamed sources. How can we make sure that we are not played on by rumors?
I am inclined to pretend like I have not heard all the gossips, rumors and all the assumptions that are made to hype one candidate against another. However, I know exactly what I have to do and that is to answer my President's call for action to raise funds one person and one grassroots donation at a time so that my President even handily out-raise all of his opponents for the 2012 Presidential election.
We have many Republican PACs working to dismantle and repeal the progress we have made. That means we have to increase our efforts even more to push back against these Washington lobbyists that are infested with big donors. It is hard to compete with that kind of force but we have done it in 2008 and we can do it in 2012.
Click on the image below and do what you can to donate by midnight today as we close the July-to-September fundraising quarter.
YES WE CAN DO IT TOGETHER! OBAMA/BIDEN 2012
Like what you read? Chip in, keep us going.