No Wall Street is Not Staying Away From the President

      It's true that Romney has been able to raise a lot through the new Super Pac rules and that much of say the securities industry is in a pique because Obama once used the words "fat cat" and passed Dodd-Frank.

     "President Barack Obama called Wall Street executives "fat cats,'' criticized their bonuses and tried to raise their taxes. The financial-services industry, in turn, has directed a stream of complaints toward the administration, fueling perceptions of a rift between the president and a key 2008 donor group."

     "But, defying expectations, the securities and investment industry has remained an important part of the Obama fundraising effort. Mr. Obama and the Democratic National Committee raised more than $14 million from the securities and investment industry through the end of April, according to the nonpartisan Center for Responsive Politics. Mr. Obama's campaign alone raised $361,000 from the industry in May."

       http://online.wsj.com/article/SB10001424052702303933404577500810740985338.html?mod=WSJ_hps_MIDDLENexttoWhatsNewsForth

      "In 2009, Mr. Obama said Wall Street helped cause the economic downturn. A year later he signed the Dodd-Frank bill, which subjects financial firms to tougher regulation. He also has tried unsuccessfully to do away with a tax break that enables private-equity and hedge-fund executives to pay a lower tax rate on some income."

      "But rather than abandoning Mr. Obama, the securities and investment sector still holds the third spot among the top 10 interest groups in the most recent rankings of individual donations to the Obama campaign and the DNC, according to the center. In the 2008 campaign, the financial-services sector ranked fourth among all interest groups giving to Mr. Obama and the DNC."

      Listen I'm no Wall Street hater. I know that's what the Right think all liberals do but it's not true. There are some on the far side of the left-liberal continuum that do but I'm not one of them. This is because many so-called liberals are probably falsely names. I'm a liberal but not a populist. There's an important difference.. However, I never have been able to understand the temper tantrum that so many in the securities and banking industries had because Obama had a few words to say in a campaign speech. Do they not understand that he was just speaking to public anger here?

     Would they prefer he deny the public's feelings and then have some real riots on their hands? Happily some "Wall St. fat cats" do seem to get it!

    "Steven Myers, who runs a private-equity firm in Newport Beach, Calif., estimates that he has raised more than $1 million, compared with more than $100,000 for Mr. Obama in the 2008 cycle.
Mr. Myers said he believes Mr. Obama's attempts to stiffen Wall Street regulation with the Dodd-Frank bill are justified."

    "Anyone—especially anyone in the financial-services industry—who could argue that we don't desperately need more and better financial regulatory controls is simply being silly,'' he said in an interview.

    Thank you Steve for restoring my faith in the idea that some in the financial-services industry are sane!