Update September 16
A very good analysis on Obama’s contributions from Wall Street
n Obama has attacked Wall Street’s financial sector and run a campaign based largely upon his “good judgment”. The problem with Obama’s rhetoric rests in the fact that tucked away in his database of 2.5 million donors is the approximately 180,000 power brokers that have funded nearly 60% of his campaign.
n all the Obama campaign has accepted more than $25 million in contributions from the “disclosed” employees of financial services, insurance, and real estate firms, the largest sector to contribute to the Obama campaign. Additionally, Obama’s second largest source of campaign funds has come from the nearly $24 million he has accepted from attorneys, many of which work at large corporate law firms like those listed above
Krugman is not sure what will happen
How will the Wall Street meltdown affect the race? per Politico
3. Just like the markets, however, each candidate faces an enormous downside risk: Troubled times could make voters less likely to take a chance on Obama, with his shorter time in Washington. McCain could pay the price for the economic disruption on a Republican’s watch, or if he looks like he doesn’t have the energy and creativity to reassure a worried nation.
4. They will also be more constrained when they get to Washington, with analysts estimating that the government takeover of mortgage giants Fannie Mae and Freddie Mac is likely to cost the Treasury $100 billion to $300 billion.
Meawhile, Secretary of treasury Paulson, the one Obama conferred with in July
vowed to go away and a McCain adviser said
Treasury Secretary Henry Paulson “spent the cookie jar” with the takeover, a McCain adviser said.
And we know Wall street lavished money on Obama.
Lehman Brothers – big Obama supporters/donors? (article says “both” – bit Obama got 4 times as much
Both presidential candidates have gotten a lot of money from Lehman employees — Democratic candidate Barack Obama to the tune of at least $370,000, and Republican John McCain, $117,000 — according to the nonpartisan, nonprofit Center for Responsive Politics.
In fact everyone in trouble on Wall street is an Obama donor and these are from April:
The figures reflect giving from the employees of Bear Stearns, Citigroup, Credit Suisse, Deutsche Bank, J.P. Morgan Chase, Lehman Brothers, Merrill Lynch and Morgan Stanley, as well as Goldman and UBS.
As of July,
Wall Street firms have chipped in more than $9 million to Barack Obama.
at that time
Obama’s Wall Street haul is not the biggest ever. That distinction belongs to President Bush, who as an incumbent in 2004 raised $10,852,696 from Wall Street interests through April that year – about $1 million more than Obama.
Something tells me he caught up since
Democrat Barack Obama has captured $9.6 million in donations from employees working for securities, mortgage and drug companies, compared with McCain’s $6.6 million.
So, as Wall Street colapses, I am supposed to trust the candidate most beholden to them?
Update:
per Open secrets lehman alone gave Obama
$395,600
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3 comments
September 15, 2008 at 12:29 pm
Annie Oakley
Reform it? Ha ha ha. This may be why the candidate who admitted he wasn’t ready to be president was suddenly “brought along.” The implosion of the corruption of our banking system is going to become something we can no longer ignore. Bailing out these fat bastards and keeping them out of jail has become a top priority. Obama is just the man for the job.
January 30, 2009 at 9:09 am
NY Tabloids food fight « Not Your Sweetie
[...] it’s a stretch. But then I remember that bit of recent history 180,000 power brokers that have funded nearly 60% of his campaign. In all the Obama campaign has [...]
February 27, 2009 at 5:37 am
Saving the bankers, rather than the banks « Not Your Sweetie
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