Hypocrite Barack Obama Filled His War Chest With Wall Street Greed
Posted by: velvethammer in Obama
And adding to this outrage, we learned this week that even as they petitioned for taxpayer assistance, Wall Street firms shamefully paid out nearly $20 billion in bonuses for 2008. While I’m committed to doing what it takes to maintain the flow of credit, the American people will not excuse or tolerate such arrogance and greed. The road to recovery demands that we all act responsibly, from Main Street to Washington to Wall Street.
- Barack Obama weekly address Jan 31st, 2009
Wall Street greed was fine and dandy when greedy Wall Street profiteers were using their profits to fund Barack Obama’s presidential run.
Wall Street Bets on Obama for President – Open Secrets
Wall Street seems to have selected Barack Obama for its own major investment this election cycle.
…..
Since the start of 2007, Obama has received $7.9 million
Obama was top dog in donations, among the ‘Securities and Investment’ sector.
Presidential Candidates: Selected Industry Totals, 2008 Cycle
Barack Obama (D) $14,808,875
Flash forward: Obama lectured Wall Street Monday, Sep. 14, 2009 at Federal Hall on their home turf. How symbolic.
The money quotes. Excerpts from the ‘lecture’.
It was one year ago that we experienced just such a crisis. As investors and pension-holders watched with dread and dismay, and after a series of emergency meetings often conducted in the dead of the night, several of the world’s largest and oldest financial institutions had fallen, either bankrupt, bought, or bailed out: Lehman Brothers, Merrill Lynch, AIG, Washington Mutual, Wachovia. A week before this began, Fannie Mae and Freddie Mac had been taken over by the government. Other large firms teetered on the brink of insolvency. Credit markets froze as banks refused to lend not only to families and businesses but to one another. Five trillion dollars of Americans’ household wealth evaporated in the span of just three months.
Unfortunately, there are some in the financial industry who are misreading this moment. Instead of learning the lessons of Lehman and the crisis from which we are still recovering, they are choosing to ignore them. They do so not just at their own peril, but at our nation’s. So I want them to hear my words: We will not go back to the days of reckless behavior and unchecked excess at the heart of this crisis, where too many were motivated only by the appetite for quick kills and bloated bonuses. Those on Wall Street cannot resume taking risks without regard for consequences, and expect that next time, American taxpayers will be there to break their fall.
Some of the money:
Listed under: Top 100 Contributors to Campaign Cmte
Listed in this order: Total – Individual – PAC’s
A couple other stand outs that weren’t mentioned by Obama.
Found this list at Huff Po
If it weren’t for the BIG money being made on Wall Street Obama would not of been the recipient of so much Wall Street dough over flow.
Update: In related news
Tags: bail out, donations, economy, election '08, hypocrisy, Obama, politics, Tim Geithner, Wall Street
Robert Wolf should try to run his failing bank rather than buy his way into the Obama inner circle. Wall Strret knows what he is all about
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