Obama’s Fat Cat Donors
April 11th, 2008 at 11:55am Mark Noonan
More change we can believe in, I guess:
Sen. Barack Obama credits his presidential campaign with creating a “parallel public financing system” built on a wave of modest donations from homemakers and high school teachers. Small givers, he said at a fundraiser this week, “will have as much access and influence over the course and direction of our campaign that has traditionally been reserved for the wealthy and the powerful.”
But those with wealth and power also have played a critical role in creating Obama’s record-breaking fundraising machine, and their generosity has earned them a prominent voice in shaping his campaign. Seventy-nine “bundlers,” five of them billionaires, have tapped their personal networks to raise at least $200,000 each. They have helped the campaign recruit more than 27,000 donors to write checks for $2,300, the maximum allowed. Donors who have given more than $200 account for about half of Obama’s total haul, which stands at nearly $240 million…
…Among the group are businessmen such as Kenneth Griffin, a famously private 39-year-old billionaire who threw his support behind Obama’s presidential campaign just as he hired a team of lobbyists to urge Congress to preserve a lucrative tax loophole.
A year ago, Griffin invited Obama to speak to employees of his Chicago hedge fund, Citadel Investment Group, and in subsequent months, employees and their families gave the candidate nearly $200,000. Griffin had previously backed Republicans, including Obama’s initial U.S. Senate opponent.
Obama resisted Citadel’s lobbying push, but a hedge fund executive who knows Griffin said he suspects Griffin’s continued support owes to more than a desire to sway the senator on the tax issue. “Ken’s a smart guy, and I guess he’s done the math and decided that Barack is the best candidate,” said Daniel Loeb, the chief executive of Third Point Management in New York.
If Obama really wants to be a agent of change, then its time for him to return the money from the fat cats like Griffin - no matter how you slice it, these people are buying access in an Obama Administration and if you think that Mom ‘n Pop down the street who cut a check for $50.00 will have as much access as Griffin, then you’re the biggest fool, ever.
Entry Filed under: Campaign 2008, Corruption, Democrats
35 Comments
1. InDaVa | April 11th, 2008 at 12:19 pm
Deleted - off topic.
2. hermie | April 11th, 2008 at 12:40 pm
I thought Dems considered hedge fund managers to be agents of Satan.
3. Joe | April 11th, 2008 at 12:42 pm
Mark,
Why is this news that you are upset about and why should he give the money back? Are you saying that he can’t take money from wealthy people?
In the part of the article that you posted…
Were you upset back in 2000 and 2004 when Bush used “bundlers”?
From the article regarding those big cats…
But MOST importantly (again, from the article you link)…..
I would say that statement seriously contradicts your belief of…
So again I ask… why are you upset about this? Why is this news? Is it that you are jealous the GOP can’t get “Mom and Pop” donations as well as wealthy donations?
4. Mark Noonan | April 11th, 2008 at 12:50 pm
Joe,
I am not opposed to money in politics - pour as much of it in as you like, just disclose where its coming from. It is you on the left who officially decry the influence of the rich…and here’s you hero, Obama, being influenced by the rich.
Doesn’t that strike you in the least as hypocritical?
5. Joe | April 11th, 2008 at 1:00 pm
You show me where he is being influenced by the rich and I will tell you it is hypocritical.
The fact that someone rich is giving to him doesn’t say anything to the fact that they will get something in return. You may expect that, but that doesn’t mean anything.
I say we get rid of any contributions and make all political office campaigns publicly financed. Then we won’t get people that “expect” a donor is paying for something in return. That also allows an average person to run for office and not just the wealthy.
But anyway… prove to me that he is being influenced, then you can yell all you want. Until then, we can make the statement that McCain is also in the pockets for one thing or another.
6. js | April 11th, 2008 at 1:02 pm
so what is “change”?
change of the guard to the corrupt political machine called the DNC?
or change hands, speaking of cash, from the rich industialists to the potential ally?
one thing for sure though, change the rules to make justice stand tall isnt in the obama vocabulary….
7. Obama’s Fat Cat Donors &hellip | April 11th, 2008 at 1:05 pm
[...] Mark Noonan added an interesting post today on Obamaâ [...]
8. Barack Obama News »&hellip | April 11th, 2008 at 1:06 pm
[...] Read the rest of this great post here [...]
9. eric | April 11th, 2008 at 1:22 pm
Here is a great photo essay about Senator Obama’s recent hush-hush trip to billionaires row in San Francisco:
http://www.zombietime.com/obama_visits_billionaires_row/
Money certainly drives American politics, but claiming to be a man of the people while pandering to the rich is a bit hypocritical.
10. Amanda | April 11th, 2008 at 1:29 pm
Yeah, that money thing is tricky, isn’t it?
http://tpmelectioncentral.talkingpointsmemo.com/2008/04/mccain_attacks_sorosfunded_gro.php
11. Rana Quijotesca | April 11th, 2008 at 1:38 pm
So… does all of this talk about sticking to your guns on campaign finance mean that McCain should be forced to adhere to the limit he set on himself by accepting Public Finance?
The knife cuts both ways…
12. SteaM | April 11th, 2008 at 1:44 pm
He’s getting more money than McCain. That’s all this is about. You have campaign financing penis envy.
13. InDaVa | April 11th, 2008 at 1:45 pm
“So… does all of this talk about sticking to your guns on campaign finance mean that McCain should be forced to adhere to the limit he set on himself by accepting Public Finance?”
Of course not. I’m surprised all these posts are not deleted as the topic is Obama, not McCain. After all, McCain is the Republican nominee but lets not talk about him.
14. OhioOrrin | April 11th, 2008 at 1:45 pm
joe quoted:
Boston financier Alan Solomont, who leads Obama’s Northeast fundraising, said many are rallying to the candidate because they expect that he will break with old traditions, such as rewarding big fundraisers. “There’s nobody with their hand out,” Solomont said. “People are doing this because they believe in this candidate.”
so we got a money man describing “OTHER FOLKS” (alledged) expectations that Ear bama won’t reward big fundraisers?
WTF - who believes that about ANY politican?
15. Amanda | April 11th, 2008 at 2:19 pm
Reposting since the link didn’t work before:
http://tpmelectioncentral.talkingpointsmemo.com/2008/04/mccain_attacks_sorosfunded_gro.php
16. congressive | April 11th, 2008 at 2:22 pm
So, rich people smell a winner, and want to be on board. This is news? Exactly which ones of Citadel’s families and employees should get their money returned? Do they have nothing to gain from Obama? If they gave more than the legal limit, he’d beter return the money. If not… sounds like ankle-biting to me.
17. Barack Obama » Obam&hellip | April 11th, 2008 at 2:33 pm
[...] The Swamp wrote an interesting post today on Obamaâs Fat Cat DonorsHere’s a quick excerptBarack Obama credits his presidential campaign with creating a “parallel public financing … to more than a desire to sway the senator on the [...]
18. Joe | April 11th, 2008 at 2:47 pm
so we got a money man describing “OTHER FOLKS” (alledged) expectations that Ear bama won’t reward big fundraisers?
Then why should we take ANYONE’s word on anything? No matter who gives to a candidate, the opposing party is going to say that candidate is in the pocket of said donor.
You people are barking because Obama (yes, his name starts with an “O” not an “EAR”) got donations from a wealthy person. So what? Last I heard so did all other political candidates and they all will continue to until we have 100% public financing of political cadidates.
You people really get all pissy about the stupidest things.
19. Some Assembly Required | April 11th, 2008 at 2:55 pm
Joe they do it because he is the ‘Change’ candidate. It seems because he is going to ‘change’ things then these questions only apply to him and no other candidate. Other candidates are not corrupt because they don’t say they will change things. They’ll just keep things the way they are. Last I checked though, ‘Change’ does not mean ‘Purify’.
20. Joe | April 11th, 2008 at 3:03 pm
Yep… obviously “change” to them means don’t take money from anyone unless they ok it.
What kills me is that in the article Mark posted it doesn’t say he is doing favors for them or is influenced by them. That is Mark “picturing in his mind” what is going on.
Never mind the fact that HALF of the $200+ million that Obama has raised has come from “small” donors.
Never mind the fact that $11million of the $15million that McCain raised last month came from “big” donors that he can no longer hit up for more cash.
Sounds like sour grapes to me.
21. Dennis | April 11th, 2008 at 3:07 pm
This is another post full of insinuations, with a patently false conclusion. As for Obama being an agent of positive change, his entire adult life has been spent in public service - beginning straight out of college working with the poorest of the poor.
Show me any Republican in the Bush’s administration with a similar resume. Show me a single one who had a choice between working for the poor or going for big bucks, who didn’t take the money.
To conclude that wealthy donors are buying influence in Obama’s administration shows how the Bush mentality has perverted your values, Mark, to the point you cannot imagine there is any other way of doing business. Your demigod has turned you into a sour, bilious cynic without you even realizing it.
As for Eric’s link featuring photos of Obama at some wealthy San Francisco event - just because Obama speaks for the poor, should he shun the wealthy altogether? The picture captions reek of sneering reverse snobbery.
Read the Gospels and you will find that although Jesus spent his much ministry working for the poor, he also was a guest of the wealthy and prestigious - and was criticized in much the same manner. In his own words: “The Son of Man has come eating and drinking, and you say, ‘Behold, a gluttonous man and a drunkard, a friend of tax collectors and sinners!” Luke 7:34
Finally, for comparison if you want a snapshot of the excesses of the Bush admin in political season, in August 2003 Dick Cheney flew to a Wyoming fund-raiser accompanied by two Blackhawk helicopters, two Air Force luxury jets plus a C-17 loaded with five Secret Service vehicles. All to attend a reception at the ranch of multimillionaire Tom O’Gara that raised $175,000 for the Bush-Cheney campaign. And guess what - you, the taxpayer, paid for every penny of that ridiculous entourage, even though it was for blatantly partisan ends.
22. SteaM | April 11th, 2008 at 3:10 pm
Soros!
23. Dennis | April 11th, 2008 at 3:24 pm
For the skeptical - a link for the Cheney fundraising event at O’Gara ranch (the story also appeared in other news outlets at the time)
http://www.thenation.com/blogs/bivens_outrage?pid=887
24. InDaVa | April 11th, 2008 at 3:47 pm
Uh oh… look out Dennis….this thread isn’t about McCain or Bush its about Obama. Apparently, by pointing out that the current administration has done the EXACTLY same thing doesn’t apply here and is considered off topic.
25. Rich | April 11th, 2008 at 4:25 pm
“Obama being an agent of positive change, his entire adult life has been spent in public service - beginning straight out of college working with the poorest of the poor. ”
You must do more than work with poor people to be an agent of change. What type of tangible change has he accomplished and produced in his life. He complains about the state of Chicago schools, what did he change about them as a legislator. From what i have seen, he hasn’t “changed”anything.
26. Joe | April 11th, 2008 at 4:35 pm
Rich, You discount community service like it is working at Burger King.
Meanwhile, you don’t address the comment…
Show me any Republican in the Bush’s administration with a similar resume. Show me a single one who had a choice between working for the poor or going for big bucks, who didn’t take the money.
You just kind of glanced over that one.
I do notice you pick on one line of the post pointing out that really Obama didn’t completely revamp the Chicago school system.
As one legislator, could you enact that much change? You can certainly push for it. Not being from Chicago, I don’t know what he pushed for and didn’t push for. You can’t really point to legislation because perhaps he was pushing for something that never came up for a vote. I don’t know.
Do you know that he wasn’t pushing for better Chicago schools? I don’t think you can.
You also say…
“You must do more than work with poor people to be an agent of change”
Why is that? How many Presidents or even current legislators have worked with the poor? How better to know the pains of the common person if you don’t?
Would you rather someone that has worked with the poor to understand what they go with… OR…………..
would you rather someone that was born into wealth, never worked with common folks, went to public schools all his life, started and failed oil companies and was a part owner of a baseball team full of millionaires?
27. Joe | April 11th, 2008 at 4:37 pm
I meant to say… “went to private schools”
Damn that proof reader! They are fired!!!
28. Rich | April 11th, 2008 at 5:03 pm
“Rich, You discount community service like it is working at Burger King.
Meanwhile, you don’t address the comment…”
Joe- I volunteer my time and I also work for the community. I left a successful family business to teach in the inner city so spare me. It does not qualify me to run the country or give me any valuable experience to be CIC. It just means I get crappy pay and subjected to all manor of degradations and danger.
“Show me any Republican in the Bush’s administration with a similar resume. Show me a single one who had a choice between working for the poor or going for big bucks, who didn’t take the money.”
See the above comment.
“Would you rather someone that has worked with the poor to understand what they go with… OR…………..”
No I wouldn’t. I would rather somone that has a proven track record of getting things “done” or at least has a long record of experience. Obama has neither. I work with the poor, and so does the man that picks up their garbage, and the person who delivers their mail, and the doctors who take care of them Does that mean any of the above are qualified to be president because of this? Hardly. Now asnwer my question, what has Obama, the Golden BOy of “Change”, actually changed?
29. Joe | April 11th, 2008 at 5:12 pm
Joe- I volunteer my time and I also work for the community. I left a successful family business to teach in the inner city so spare me. It does not qualify me to run the country or give me any valuable experience to be CIC.
Good for you. I also do a lot of work with the poor. But no… that doesn’t qualify either of us to be President. If you are going to look at that one thing, then no.
If you were a Senator as well as that time working with the poor, I may say you are qualified.
You people always bring up this “experience” comment about Obama yet nobody has ever said exactly how much experience is “enough”.
Since when is it a requirement that they must “run” something? If that is the case, then how is McCain qualified? If that is the case, nobody but a Governor would qualify.
30. Freedom1 | April 11th, 2008 at 6:05 pm
Obama: Small-Town People Cling to Religion, Guns, and Xenophobia - Politico.com
31. Freedom1 | April 11th, 2008 at 6:13 pm
Obama, “And it’s not surprising then they get bitter, they cling to guns or religion….”
Obama refers to “religion” like it’s a bad thing. This is just more evidence that Obama is NOT a genuine Christian.
Btw, those Obama remarks above were made by Obama at a San Francisco fundraiser Sunday. They were an attempt to explain the resentment in small-town Pennsylvania.
Obama is not fit to be Senator. Obama is certainly not fit to be President.
32. Freedom1 | April 11th, 2008 at 6:25 pm
Reverend Jeremiah Wright Keynote Speaker for NAACP Dinner
Guess who’s coming to town for dinner? - Detroit Free Press
There’s something seriously rotten in Denmark.
33. Rich | April 11th, 2008 at 7:10 pm
Joe- I’m sorry Im not seeing any post about jwhat Obama has accomplished. Any other lefties take a stab? Come on, he has to have changed something as the “change candidiate”.
34. jollyroger | April 21st, 2008 at 4:41 am
How do you do…
REVOLTINGLY RICH
Tell me you don’t want to be rich, tell me, ha, fucking liar
It’d be a right buzz-oldrin
GROUND WORK
Zimbabwe’s brilliant, in’t it? Aside from all that dictatorship business, those deaths and routine starvation rumours. Because of inflation for fifty quid your a zibabab millionaire, Jesus never had it that good.
Generally, to be a regular richy rich your family have to drink water sourced from polor ice caps, filtered through panda brains and shoot foreign dignitaries for fun. If your not and those first few months of you life are spent surrounded by parents; Candice and Johnno, who feed you an assortment of the pringles range and gone off Hooch. Kill your nubile young body and wait for the next miracle moment, won’t be long, bout three a second, i hear.
…more at lifestyleguides.blogspot.com
35. ads on wealthy people who&hellip | May 1st, 2008 at 7:54 am
[...] for him to return the money … Are you saying that he can??t take money from wealthy people? …http://blogsforvictory.com/2008/04/11/obamas-fat-cat-donors/Marler testing the water for Senate raceCantwell has become wealthy as a senior executive at Real [...]