Apparently the Democrats failed to get the memo that you should always keep your friends close and your “enemies” closer:
After the Democratic Congressional Campaign Committee sent a recent email urging supporters to sign a petition backing the wave of Occupy Wall Street protests, phones at the party committee started ringing.
Banking executives personally called the offices of DCCC Chairman Steve Israel (D-N.Y.) and DCCC Finance Chairman Joe Crowley (D-N.Y.) last week demanding answers, three financial services lobbyists told POLITICO.
… “Most Wall Street guys, they feel like they’re going to be burned in effigy,” said Anthony Scaramucci, managing partner of SkyBridge Capital, who gave to Obama in 2008 but is now fundraising for Mitt Romney. Some moderate donors, who have given to both parties, “fled from Obama in his support of the Wall Street protests,” he said.
… “You can’t have it both ways,” said one in-house financial services lobbyist. “It just makes it harder for people who are Democrats in New York, Boston, Chicago to on the one hand be demagogued and then be asked ‘Hey, you can get your picture with the president for $30,000.’ It doesn’t square.”
In 2008, with the Democratic party apparently having no trouble retaining control of Congress and likely to win the Presidential race, Wall Street firms poured millions into their campaign coffers. Wall Street also engaged a massive lobbying campaign during the drafting of the Dodd-Frank bill. And who can blame them – a wise player always spreads his bets. But if the Democrats really were true to their espoused principles, they would have refused to take the money. And now, instead of feeling secure in their ability to buy off the government, big banking and investment firms feel like they have been conned, which of course they have.
I would guess that a general feeling of betrayal among the wealthy Americans who previously supported President Obama goes a long way toward explaining why his fundraising is currently lagging far behind expectations.
Gee, who could have seen that coming?