Dear President Obama,
Your recent claims notwithstanding, we feel your job performance does not justify our financial support.
In fact, this year we plan to declare war on you and congressional Democrats.
You have hurt our fee fees.
"Undermining the financial sector — an industry inextricably tied to our economic recovery — won’t create a job or provide economic security for American families facing hardship, yet that is the constant refrain from the White House,” said an industry official. “Many in the industry thought the use of the elevated rhetoric, which was used tactically to demonize the industry and thus enhance the legislative prospects of Dodd-Frank, would cease after the bill’s passage. It hasn’t.”
But, even more damning - and despite assurances from many in the progressive blogosphere that you would be, and are, a Wall Street stooge - your
actions are beginning to annoy us. In short, you are bad for business.
"The government has strangled the financial system," banking analyst Dick Bove told me recently. "We’ve basically castrated these companies. They can’t borrow as much as they used to borrow."
A
bad investment, if you will.
“There has been a significant shift in New York away from this president and toward any opponent he may have as a result of his legislative enactments and his relentless anti-Wall Street rhetoric,” said Richard Hunt, president of the Consumer Bankers Association, which represents banks focused on consumers and small businesses.
“The enthusiasm is decidedly down in 2012 for both parties, and the good news for the president is there are fewer people on Wall Street,” Hunt said. “The epicenter for the financial services industry today and for the foreseeable future is the CFPB, CFPB, CFPB and the enormous and unprecedented powers of this new agency.”
Don't believe us, Mr. President? The numbers don't lie.
In the fourth quarter of 2011, Romney raised $1.49 million from employees of those 68 companies while the president’s reelection campaign raised just $127,000 — an 11.7-to-1 ratio. It was the most lucrative quarter for Romney yet.
“Clearly it was a great quarter for Romney, in terms of fundraising from Wall Street and from securities and banking firms, in particular the biggest one,” said Sheila Krumholz, CRP’s executive director. “It is not surprising that he was able to do that. It is just surprising how rapid the shift has been towards him and away from Obama.”
You can
try to patch things up, but it's too late: we're through. We have in
Romney:
a very warm place to flee to. He is a candidate by and for Wall Street, he has lived and breathed Wall Street all his life."
It has been real,
Wall Street
P.S. Please relay our thanks to disappointed progressives who refuse to donate to your campaign this cycle. We totes definitely will make the most of that shortfall!
P.P.S. Koch Brothers. Boo!