Author Topic: NYT: Obama seeking to win back Wall Street $$$ for reelection bid w WH Dinner.  (Read 2889 times)

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Lest anyone forget where this President's true loyalties lie:

Obama Seeks to Win Back Wall St. Cash


By NICHOLAS CONFESSORE


Published: June 12, 2011



WASHINGTON — A few weeks before announcing his re-election campaign, President Obama convened two dozen Wall Street executives, many of them longtime donors, in the White House’s Blue Room.

The guests were asked for their thoughts on how to speed the economic recovery, then the president opened the floor for over an hour on hot issues like hedge fund regulation and the deficit.

Mr. Obama, who enraged many financial industry executives a year and a half ago by labeling them “fat cats” and criticizing their bonuses, followed up the meeting with phone calls to those who could not attend.

The event, organized by the Democratic National Committee, kicked off an aggressive push by Mr. Obama to win back the allegiance of one of his most vital sources of campaign cash — in part by trying to convince Wall Street that his policies, far from undercutting the investor class, have helped bring banks and financial markets back to health.


Read full article at: http://www.nytimes.com/2011/06/13/us/politics/13donor.h...








Suckers.  

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BUMP for Team Kneepad. 

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He has a lot of work to do to raise his $500+ million. 

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He has a lot of work to do to raise his $500+ million. 

Go read the comments.    Man - he is beyond done.   

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. .
Obama tries to woo back Wall Street
By National Journal national Journal – Mon Jun 13, 12:12 pm ET
By Catherine Hollander




President Obama is seeking to regain support from Wall Street executives following a rough patch in their relationship, The New York Times reported Monday.

Although the president's top financial industry supporters have said they are confident that Obama will get the backing he needs from Wall Street in the upcoming election, the Obama campaign will have to work hard to overcome the events of the past two and a half years: Wall Street's bust, clashes over policy, and the sometimes bitter personal differences that have developed, the Times reports. The president alienated some top Wall Street supporters when he criticized their bonuses and called them "fat cats."

Obama is making the case that his economic policies have helped restore the health of banks and financial markets rather than undercutting those who profit from their success. Members of the White House economics team are reaching out to Wall Street on policy issues. According to the Times, the Obama administration is also seeking support from prominent Wall Street figures that could help sway support for the president at Republican-leaning firms as well as high-level "bundlers," or supporters who recruit other donors.

Large investment banks gave generously to the Obama campaign in 2008 but have yet to show similar support for his 2012 bid, although it is still early in the cycle. Many of those who publicly defected from the president were Republicans who helped bolster Obama's image as a post-partisan candidate in the last election.

Obama faces competition for Wall Street support from Mitt Romney, the former Massachusetts governor and presumed Republican front-runner in the 2012 presidential race. Romney is courting financial-industry donors using his background as a venture capital executive, the Times reports. He held three such fundraisers last week in Greenwich, Conn., and New York City.


http://news.yahoo.com/s/yblog_exclusive/20110613/pl_yblog_exclusive/obama-tries-to-woo-back-wall-street?bouchon=501,ny


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Sam Stein
stein@huffingtonpost.com
Obama Campaign Advised White House Staff To Give Top Donor Sense Of Access
First Posted: 06/13/11 12:58 PM ET Updated: 06/13/11 01:44 PM ET





 WASHINGTON -- One of the more acute challenges confronting President Obama's reelection campaign is retaining donors who have grown disaffected during the first term in office. In a private memo obtained by The Huffington Post, top Obama aides offered a candid template for how they're tackling that task.

Hoping to keep the support of a key Florida supporter, the president's political team suggested that top White House aides give him the sense that his voice was "being heard" inside the administration.

The donor, Ed Haddock, the CEO of Full Sail University, a for-profit technical college in Orlando, was set to meet with top aide Pete Rouse, according to the memo title, though when that meeting would take place is not clear. Haddock served on the Obama for America National Finance Committee and was a "bundler" for president during his 2008 run for the office, helping raise more than $200,000. He was viewed by the memo's author Jessica Clark, the Obama campaign's finance director in Florida, as a key figure for the Obama campaign in that critical state.

But his support for a second run was not yet confirmed, owed likely to disagreements with administration policy. According to the memo, he stopped being "helpful" in 2009 and is currently being courted by former Massachusetts Governor Mitt Romney.

In an attempt to keep him in the proverbial orbit, Clark suggested a bit of ego massaging. As the memo, whose authenticity was confirmed by Obama officials, read:

It is important to understand this meeting is NOT about educational student loans, though that information is below. Rather, Ed needs and wants an ongoing point of contact inside the White House to periodically give input. From his view, he is CEO of four different companies and has the ability to give business and economic ideas above and beyond the average check writer. But when he has attempted to do so—primarily on the education issue but not exclusively—there has been no way in. Indeed, he feels like the White House is hostile to outside help, especially if it comes in the form as help from business. YOU should engage Ed on his concerns and tell him you want an ongoing relationship that seeks to hear his ideas and concerns, even if in the end we don’t always agree.
The memo offers a rare window into what top aides clearly believe is a hurdle facing the president. While Obama's road to the White House in 2008 was paved with promise, his efforts to win a second term rest, in large part, on convincing the disappointed not to jump ship.

The memo also raises legal questions set forth by the Hatch Act, which prohibits federal employees from engaging in partisan political activities -- though those boundaries are foggy. The White House, after all, entertains inquiries, complaints and requests from all sorts of constituents. How those communications are passed along matters less than whether a deliberate adjustment of policy was made in exchange for additional funds. In the case of Haddock, no such adjustment appears to have been made.

"The legal issue beyond the optical point isn't any different," said a senior administration official. "Whether the complaint comes via the campaign, either indirectly or directly ... we are not going to discriminate against him because he supported the president. It would be nuts."

As for those optics, the White House declined to provide an on-the-record statement. Other Obama officials have noted, however, that tending to the main funders of the campaign is a priority.

"I don't think we have been particularly attentive to the so-called care and feeding of donors," David Axelrod, Obama's former senior adviser, told the Wall Street Journal on Sunday. "It wasn't a lack of appreciation for supporters…I think it was largely a function of the fact that the president and everybody around him was absorbed in dealing with some fairly significant challenges."

But while the courting of Haddock can be viewed as, simply, a basic political activity, it also underscores what good government advocates see as a dangerous confluence of campaigns and governance. With elections growing increasingly expensive, donors with deep pockets are granted more input than average citizens.

"It is an inappropriate memo," said Fred Wertheimer, the Founder and President of the group Democracy 21. "And as we head into the campaign season and the political money raising season the Obama campaign should be extra careful about creating the potential impression that access is being provided for campaign contributions and fund raising."

Indeed, on Sunday night, the New York Times reported that several weeks before announcing his reelection campaign, the president brought two-dozen Wall Street executives, "many of them longtime donors," to the White House for their thoughts on the economic recovery.

Haddock may be lesser known than the Wall Street crowd but he has been a fairly steady, big time donor. From 1994 to 2010, he and his wife gave more than $435,000 to political candidates and institutions as well as campaign committees. Only $12,653 of that went to Republicans, according to a review of campaign finance records.

The Full Sail University CEO did not return a request for comment. But it appears that, so far at least, his donations have not had their desired effect. According to the memo, Haddock remains disappointed with the administration’s recent rule-making policy -- which provides stricter guidance and punishments for for-profit colleges that allow students to take on too much debt -- as well as legislation that eliminated government subsidized third-party student loans. Despite having met with Chief of Staff Bill Daley and Education Secretary Arne Duncan in addition to speaking with campaign manager Jim Messina during a swing through Chicago (the campaign headquarters), he also felt that he was being left, figuratively, at the White House gates. As the memo reads:

Even greater than Ed’s policy concerns is his personal feelings of being ignored and shut out of the process. Ed is not unreasonable and realizes that many people had a hand in making these policy decisions and does not claim that his voice should be heard above the rest. He does, however, feel that he has a perspective on this issue that is unique and feels as though he did not have a venue in which to share his input.

That a big time bundler is upset both with the access he's received and the policies produced from the administration he supported is, in a roundabout way, a plus for the White House on the ethics front. It suggests that the president and his team are desensitized to donor pressure, unwilling to let them get before policy. But elections come with their own set of pressures, chief among them a challenge to that type of donor-pressure restraint.

"That should not lead to campaign officials basically urging the White House and administration that they need to provide more access to this individual since he is a big fundraiser," said Wertheimer. "Obama campaign officials should not be pushing Obama administration officials to open the door to more access for this individual as we head into a huge fundraising season."


http://www.huffingtonpost.com/2011/06/13/obama-campaign-arm-advise_n_875986.html



________________________ ________________________ _______


HOPE & CHANGE 


HA HA HA H HA!!!!!

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June 14, 2011
Categories:Campaign Finance.
Carney defends Obama meeting Wall Street donors at White House




White House Press Secretary Jay Carney is defending President Barack Obama's decision to meet in the White House residence with top Wall Street donors who could be key fund-raisers for his re-election bid.

The New York Times, which disclosed the session in a story in Monday editions, said the confab was organized by the Democratic National Committee. On the surface, the meeting sounds somewhat like controversial DNC-arranged coffees that President Bill Clinton held at the White House during the 1996 campaign.

"What needs to be made clear is, contrary to suggestions otherwise, this was not a fundraiser. And the fact that a President meets with his supporters in the business arena to solicit ideas about how to improve the economy is surely a dog-bites-man story," Carney told reporters during a gaggle aboard Air Force One Tuesday morning. "It's something that presidents of both parties have always done. So, I don’t know what else to say about it."

The question put to Carney was actually not about the propriety of the meeting, but about why it didn't appear on Obama's public schedule despite pledges to be transparent about his daily agenda. The press secretary shed little light on that discrepancy.

“I’m not aware -- I don’t remember -- I actually wasn’t in this position," Carney replied, before launching into his defense of the sit-down.

Some of Clinton's coffees involved specific financial pledges. There is no indication that Obama's meeting with the finance types did. Federal law prohibits political fundraising on federal property, though there is some ambiguity about whether that includes the White House residence. Clinton aides initially defended the coffees by saying as long as the checks were delivered off White House grounds the events were legal. Some Clinton aides later described the entire program as ill-concieved.

(with Carrie Budoff Brown)


http://www.politico.com/blogs/joshgerstein/0611/Carney_defends_Obama_meeting_financeworld_donors_at_White_House.html


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Donors' dinner date with Obama
Politico ^ | 06/15/11 | MATT NEGRIN




President Obama is making himself available to four lucky supporters -- for a price. Granted, that price is a minimum of $5.

In an email to his fans on Wednesday, Obama said that donors who contribute $5 or more to his reelection campaign will be entered in a contest to sit down with him and three other winners for a dinner.

"This won't be a formal affair," Obama said in the email. "It's the kind of casual meal among friends that I don't get to have as often as I'd like anymore, so I hope you'll consider joining me."

Obama said in the pitch that the contest isn't like "most campaigns" that "fill their dinner guest lists primarily with Washington lobbyists and special interests." (An iWatch News investigation, meanwhile, found that nearly 200 of Obama’s top donors were rewarded with nice government jobs, advisory positions, contracts or invitations to elite events.)

Here's the full email:

"Friend --

I've set aside time for four supporters like you to join me for dinner.

Most campaigns fill their dinner guest lists primarily with Washington lobbyists and special interests.

We didn't get here doing that, and we're not going to start now. We're running a different kind of campaign. We don't take money from Washington lobbyists or special-interest PACs -- we never have, and we never will.

We rely on everyday Americans giving whatever they can afford -- and I want to spend time with a few of you.

So if you make a donation today, you'll be automatically entered for a chance to be one of the four supporters to sit down with me for dinner. Please donate $5 or more today:

https://donate.barackobama.com/Dinner-with-Barack

We'll pay for your flight and the dinner -- all you need to bring is your story and your ideas about how we can continue to make this a better country for all Americans.

This won't be a formal affair. It's the kind of casual meal among friends that I don't get to have as often as I'd like anymore, so I hope you'll consider joining me.

But I'm not asking you to donate today just so you'll be entered for a chance to meet me. I'm asking you to say you believe in the kind of politics that gives people like you a seat at the table -- whether it's the dinner table with me or the table where decisions are made about what kind of country we want to be.

It starts with a gift of whatever you can afford.

Please make a donation of $5 or more today, and we'll throw your name in the hat for the upcoming dinner:

https://donate.barackobama.com/Dinner-with-Barack

I've said before that I want people like you to shape this campaign from the very beginning -- and this is a chance for four people to share their ideas directly with me.

Hope to see you soon,

Barack"

________________________ ________________________ ______________-




OMFG - is he for real? 

Yeah, he doesnt have time for these dinners with regular people since he's too busy grifting money for favors from wall street bankers and lobbyists in the WH. 

Unreal.  Who voted for this?   


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Former New Jersey Gov. Jon Corzine, former technology executive Bernard Schwartz and banking executive James Staley were among 30 well-connected figures in the business and finance world who met with President Barack Obama at the White House in March for an unusual economic discussion organized by the Democratic National Committee.

The White House released the names on Friday under a policy Obama instituted in 2009 to disclose nearly all White House guests approximately three months after they visit.

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The March 7 meeting in the Blue Room of the residence has drawn attention and criticism because most of the attendees were donors or fundraisers and the session was arranged by the DNC. Good-government advocates said hosting the event at the White House was ill-advised.

“There’s a pretty clear line — or there should be a clear line,” Meredith McGehee of the Campaign Legal Center, which presses for tighter controls on campaign finance, recently told POLITICO. “I don’t have a problem with the president inviting Wall Street people to the White House to discuss policy, but why does it need to be DNC-sponsored? I think that’s what raises the eyebrows. Even if it’s not a fundraiser, it’s a cultivation.”

In addition to the Wall Street financiers and business executives, the session was attended by Andy Tobias, the DNC treasurer; Patrick Gaspard, the former White House political director and current DNC executive director; and Brad Thompson, a DNC fundraiser who works with high-dollar donors and bundlers in New York.

White House Press Secretary Jay Carney said last week the White House is “very transparent” about its DNC-sponsored events. White House officials have described the meeting as a chance for Obama to solicit supporters’ views on the economy. However, Obama aides have not responded to queries from POLITICO about which Obama aides accompanied him to the meeting.

At a House hearing this week, two Bush White House ethics lawyers said the session raised questions under the Hatch Act, the federal law limiting political activity on federal property and by government officials.

“It is unclear why the Democratic National Committee would have been used to organize a meeting to solicit advice on the economy. Indeed, this meeting seems to walk a fine line between official and political with all of the attendant Hatch Act concerns,” Scott Coffina, who served as an ethics adviser to the Bush White House, told the House Committee on Oversight and Government Reform.

“I would never have agreed to having such a meeting going on in the White House itself, in any room of the White House,” said Richard Painter, who also served as an ethics counsel under Bush. “I know there’s controversy about that. But I would not want to see those meetings, quite frankly, going on on federal property. What the legal restrictions are is somewhat more ambiguous.”

Carney has said that the Blue Room meeting “was not a fundraiser” and that the DNC picked up the $68 tab for the event.

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Obama campaign taps wealthy for big bucks
By: Timothy P. Carney | Senior Political Columnist Follow Him @TPCarney | 07/13/11 8:05 PM 



U.S. President Barack Obama talks with actor George Clooney during a meeting outside the Oval Office

October 12, 2010 in Washington, DC. "We did this from the bottom up," Barack Obama's campaign manager, Jim Messina, said in a new video touting the President's fundraising success. Messina and other Democrats are peddling the line that Obama's massive $86 million haul last quarter resulted from mobs of regular Americans cutting small checks. In truth, Obama's campaign is like every other presidential campaign -- mostly funded by wealthy individuals and special interests, many of whom profit from the president's policies.


The Obama campaign on Wednesday gave us bare-bones second-quarter 2011 numbers for Obama for America (the actual re-election campaign, which raised $47 million) and for the Democratic National Committee (essentially an arm of the campaign, which raised $38 million.) But they're not making their actual campaign filing public until the Federal Election Commission deadline late Friday. This timing allows the campaign to control the message by releasing numbers it likes (like "98 percent of all donations that came in were $250 or less) while not giving critics any ammunition -- such as who the big donors were and how much they gave.

Even without OFA's donor list, we can get a good idea of the Obama campaign's real financing picture by looking at the monthly reports the DNC has filed already this year. Again, the DNC is little more than an arm of the Obama campaign -- Obama's high-dollar fundraisers around the country mostly benefit the DNC. Combing through the data gives you a very different picture than the one Messina paints.

Of the $31.1 million the DNC has raised in contributions this year, almost two-thirds -- $19.3 million -- has come from individuals giving $10,000 or more, according to my analysis of FEC data. So, judging by all available data, rich people cutting big checks are providing an overwhelming majority of Obama's re-election money.

Obama's reliance on rich donors cutting five-figure checks isn't unusual or surprising, but it does clash with the image his campaign puts forward. Messina's web videos, like most of Obama's fundraising emails, push the myth that the campaign is mostly funded by ordinary people cutting $50 checks. It may be true that 98 percent of donations to the Obama campaign were $250 or less, but that's not a very telling statistic.

First, a donor could cut 20 $250 checks to contribute the $5,000 maximum to the campaign. More importantly, Messina never broke down that 98 percent and 2 percent by dollar amount. Maybe half of the campaign's money came from that "richest 2 percent," to adapt an Obama phrase.

Also, Messina was only parsing contributions to Obama for America (where donors are limited to $2,500 for the primary, and $2,500 for the general), and not the contributions to the DNC (where donors can give $30,800 per year), thus skewing the data toward smaller contributions.

This small-dollar donor myth is part of Obama's effort to portray himself as the scourge of special interests. Obama proxies on Wednesday were casting his $86 million haul in the context of "secret" money promised by libertarian billionaires Charles and David Koch. The narrative is clear: Obama is the man of the people, while Republicans are the party of Big Business. That's half-right.

DNC donors this year include plenty of Hollywood types like Stephen Spielberg and George Clooney, but also "fat cat" bankers from Goldman Sachs, Citigroup and Deutsche Bank. Throughout the DNC donor list you'll find politically connected businessmen profiting off of Obama's stimulus and energy policies. Wind power developer Thomas Carnahan (whose father was a governor, mother was a senator, brother is a congressman and sister was secretary of state) gave $30,500 to Obama, who has created a handful of new subsidies for wind power.

"We didn't accept one single dollar from Washington lobbyists," Messina also bragged. This is technically true, using a narrow definition of "Washington lobbyist." For example, Cantwell Muckenfuss is a lawyer at the K Street lobbying firm Gibson, Dunn & Crutcher. He has long been a registered lobbyist with clients including Walmart and General Electric. Last summer, Muckenfuss de-registered as a lobbyist. In May, he gave $30,800 to the DNC.

Of course Republican presidential candidates are funded by lobbyists, PACs and the same sort of millionaires funding Obama. The difference is that Republicans aren't pretending to run against the wealthy.

Timothy P.Carney, The Examiner's senior political columnist, can be contacted at tcarney@washingtonexaminer.com. His column appears Monday and Thursday, and his stories and blog posts appear on ExaminerPolitics.com.

MORE ON THESE TOPICS: Barack Obama Democratic National


Read more at the Washington Examiner: http://washingtonexaminer.com/politics/2011/07/obama-campaign-taps-wealthy-big-bucks#ixzz1S5uVi9kK


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obama/DNC made a shitload more this quarter than all other repub candidates combined.

anyone who thinks a can of baked beans will beat obama in 2012... well, that had better be a rich can of baked beans... Obama will have a billion bucks to sell his side of the story...

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obama/DNC made a shitload more this quarter than all other repub candidates combined.

anyone who thinks a can of baked beans will beat obama in 2012... well, that had better be a rich can of baked beans... Obama will have a billion bucks to sell his side of the story...

I think a can of baked beans would actually have a better chance than any of the GOP contenders


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obama/DNC made a shitload more this quarter than all other repub candidates combined.

anyone who thinks a can of baked beans will beat obama in 2012... well, that had better be a rich can of baked beans... Obama will have a billion bucks to sell his side of the story...

He has your vote locked up, so who cares right?  

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He has your vote locked up, so who cares right? 

nice personal insult instead of addressing my point.

Bill$ + power of incumbency + polling at 46% today and hasn't moved an inch in a year...

Well, I dont blame you for insulting me, and not wanting to talk about the GOP mess.

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nice personal insult instead of addressing my point.

Bill$ + power of incumbency + polling at 46% today and hasn't moved an inch in a year...

Well, I dont blame you for insulting me, and not wanting to talk about the GOP mess.



46% is what obama is guaranteed to get by virtue of the 95ers, lgbt, commies, enviro kooks, guilt ridden white commies, govt workers, 55% of latinos, etc.   

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46% is what obama is guaranteed to get by virtue of the 95ers, lgbt, commies, enviro kooks, guilt ridden white commies, govt workers, 55% of latinos, etc.   

So obama has one billion dollars to use, to convince 4.1% of american voters (to get him to 50.1% of the voters, and Bush didn't need that to win) to vote for him.

that's 4 million voters he is trying to win over.  And he's got a billion bucks to do it.  It's too early for math, but isn't that something like $25 bucks he has to spend, per voter?

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So obama has one billion dollars to use, to convince 4.1% of american voters (to get him to 50.1% of the voters, and Bush didn't need that to win) to vote for him.

that's 4 million voters he is trying to win over.  And he's got a billion bucks to do it.  It's too early for math, but isn't that something like $25 bucks he has to spend, per voter?

Yeah, its going to be blood sport.  I dont think it will work to be honest.    I'm not kidding, i know some demos who literally froth at the mouth in hatred of obama, not something you would grasp. 

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Yeah, its going to be blood sport.  I dont think it will work to be honest.    I'm not kidding, i know some demos who literally froth at the mouth in hatred of obama, not something you would grasp. 

LOL at the subtle insult from you :P

Assuming you're right that 46% of voters are automatic (and I believe you're right, for both dems and repubs on this point)...

A billion dollars to win over 4% of voters.  First time in history.  That's huge.