Tales from the Trail

Obama compromised by Wall Street contributions, conservative group alleges

May 14, 2012

President Obama is too closely tied to Wall Street, claims a new web video that takes the tone of Occupy Wall Street, though it was produced by a conservative group.

The video, released by the American Future Fund, an Iowa-based organization designed to be “a voice for conservative principles” and “free market ideals,” alleges that raising tens of millions of dollars from Wall Street gave Obama reason to let (presumably culpable) Wall Street executives off easy:

“Nearly four years after America’s financial collapse, not a single senior Wall Street executive has been charged with a crime. Not one. Why? Could it be because Obama raised $49 million from Wall Street – more than any candidate in history? He rewarded top Wall Street donors and supporters with senior jobs. His chief of staff made millions from Wall Street — after Wall Street received billions in bailout money.”

The ad names Jon Corzine, the former Democratic senator and New Jersey governor who headed MF Global until it filed for Chapter 11 bankruptcy last fall, as a particular example. Corzine “lost $1.6 billion in customers’ money but hasn’t been charged” the narrator says.

“Under Obama, Wall Street keeps winning, and Obama keeps taking their cash. Tell Obama to stop protecting his Wall Street donors.”

Watch, via the American Future Fund:

Photo credit: Screenshot/American Future Fund

Comments
2 comments so far | RSS Comments RSS

Imagine if President Obama directed the US Attorney General to file charges against Corzine…Conservatives would come back and argue that Obama overstepped.

And isn’t it ironic that Conservatives WANT LESS REGULATION?

Yeah, no conflict of self-interest there!

Posted by GRRR | Report as abusive
 

pot meet kettle. Seriously, do they think the voters are stupid? Oh, wait.

http://www.iwatchnews.org/2011/01/05/223 2/hedge-funds-bet-heavily-republicans-en d-election

“A small network of hedge fund executives pumped at least $10 million into Republican campaign committees and allied groups in last year’s elections, helping bankroll GOP victories that changed the balance of power in Washington, according to a review of campaign records and interviews with industry insiders.

The review by the Center for Public Integrity and NBC found that some of the heaviest contributions from industry leaders came late in the campaign or were funneled through obscure “joint fundraising committees” and other independent GOP allies — some of which were set up to maximize campaign fundraising or to avoid disclosing the names of big donors. The Center and NBC analyzed campaign data compiled by CQ Moneyline and the Internal Revenue Service.

Bitterly opposed to economic and regulatory policies backed by President Barack Obama and Democrats — including proposals to increase taxes on some of their profits — top Wall Street hedge fund moguls were unusually energized during last year’s election. They held multiple fundraisers and coordinated strategy to direct what appear to be unprecedented sums into the coffers of GOP and allied political committees.

The net effect has given hedge funds important new allies at a time when they are fending off some regulations mandated by the Dodd-Frank financial reform law and an aggressive Justice Department investigation into insider trading.”

Posted by ittocbwam | Report as abusive
 

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