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Politics : President Barack Obama -- Ignore unavailable to you. Want to Upgrade?

To: ChinuSFO who wrote (58833)	7/17/2009 9:05:23 PM
From: Broken_Clock	Read Replies (1) \| Respond to of 149317

refresher course in case you missed the post earlier this week salon.com excerpt New York Times, December 13, 2008 -- "A Champion of Wall Street Reaps Benefits": Senator Schumer plays an unrivaled role in Washington as beneficiary, advocate and overseer of an industry that is his hometown’s most important business. An exceptional fund raiser — a "jackhammer," someone who knows him says, for whom "'no' is the first step to 'yes,'" -- Mr. Schumer led the Democratic Senatorial Campaign Committee for the last four years, raising a record $240 million while increasing donations from Wall Street by 50 percent. That money helped the Democrats gain power in Congress, elevated Mr. Schumer’s standing in his party and increased the industry’s clout in the capital. But in building support, he has embraced the industry’s free-market, deregulatory agenda more than almost any other Democrat in Congress, even backing some measures now blamed for contributing to the financial crisis. . . . But Mr. Schumer, a member of the Banking and Finance Committees, repeatedly took other steps to protect industry players from government oversight and tougher rules, a review of his record shows. Over the years, he has also helped save financial institutions billions of dollars in higher taxes or fees. He succeeded in limiting efforts to regulate credit-rating agencies, for example, sponsored legislation that cut fees paid by Wall Street firms to finance government oversight, pushed to allow banks to have lower capital reserves and called for the revision of regulations to make corporations’ balance sheets more transparent.

To: ChinuSFO who wrote (58833)	7/17/2009 9:07:53 PM
From: Broken_Clock	Read Replies (2) \| Respond to of 149317

huffingtonpost.com When Barack Obama pulled out of public campaign financing, I wrote a column about his money machine, noting that despite all the small Internet donors, his campaign is still mostly funded in the most traditional of ways. Numerous readers taking offense at my characterization of Obama's fundraising as dominated by "fat cats." In light of new details on Obama's fundraising which have become available, now would be a good time to revisit this issue. I noted that that, by the end of June, Wall Street had already given Obama $9.5 million, that four out of his top five contributors are employees of financial industry giants, with Goldman Sachs at the top of the list. Even conservative New York Times columnist David Brooks was appalled: "Over the past few years, people from Goldman Sachs have assumed control over large parts of the federal government. Over the next few they might just take over the whole darn thing."

To: ChinuSFO who wrote (58833)	7/17/2009 9:10:09 PM
From: Broken_Clock	Read Replies (1) \| Respond to of 149317

Obama Top Fundraiser on Wall Street Big Banks' Employees Gave Senator $479,000 in 1st Quarter By Kristin Jensen and Christine Harper Bloomberg News Wednesday, April 18, 2007; Page D02 Democratic presidential candidate Barack Obama ran ahead of New York Sen. Hillary Rodham Clinton (D) and former New York mayor Rudolph W. Giuliani (R) on their home turf in the first quarter, raising cash from the biggest investment banks on Wall Street. washingtonpost.com