Wall Street still gives big cash to Obama


WASHINGTON (Reuters) - Despite howls of protests from many on Wall Street over some of President Barack Obama's policies, financial sector employees are giving at a greater rate to his re-election bid than during his last campaign.

One-third of the funds hauled in by Obama's big-money backers came from executives and others linked to the financial world, according to a report from the Center for Responsive Politics released on Friday.

The financial sector accounted for about 20 percent of what Obama's top fundraisers raised during his 2008 bid.

Several high-profile bank and hedge funds executives have complained publicly about Democratic policies, including the financial sector overhaul and health care revamp. Still, an incumbent is hard to beat and Wall Street likes to hedge its bets.

"Everyone likes a winner, Obama is the incumbent president and they are hard to oust," said Michael Beckel, a researcher at the center. "It is natural that they want to stay in his good graces even if some of them are upset" about certain policies.

Obama reported raising $86 million in the quarter ending June 30, which includes nearly $40 million raised for him by the Democratic National Committee.

http://finance.yahoo.com/news/Wall-Street-still-gives-big-rb-568029544.html?x=0&sec=topStories&pos=1&asset=&ccode=

Don't look at the puppet masters! Look at Obama! Isn't he Charismatic?


OBAMA SAYS...