Ironic: Obama caved to Wall Street in 2009; in 2012, Wall Street wanted more
On Wall Street, Time to Mend Fences With Obama
By SUSANNE CRAIG and NICHOLAS CONFESSORE, NYT
Del Frisco's, an expensive steakhouse with floor-to-ceiling windows overlooking the Boston harbor, was a festive scene on Tuesday evening. The hedge fund billionaires Steven A. Cohen, Paul Singer and Daniel Loeb were among the titans of finance there dining among the gray velvet banquettes before heading several blocks away to what they hoped would be a victory party for their presidential candidate, Mitt Romney.
The next morning was a cold, sobering one for these executives.
Few industries have made such a one-sided bet as Wall Street did in opposing President Obama and supporting his Republican rival. The top five sources of contributions to Mr. Romney, a former top private equity executive, were big banks like Goldman Sachs and JPMorgan Chase, according to the Center for Responsive Politics. Wealthy financiers - led by hedge fund investors - were the biggest group of givers to the main "super PAC" backing Mr. Romney, providing almost $33 million, and gave generously to outside groups in races around the country.
On Wednesday, Mr. Loeb, who had supported Mr. Obama in 2008, was sanguine. "You win some, you lose some," he said in an interview. "We can all disagree. I have friends and we have spirited discussions. Sure, I am not getting invited to the White House anytime soon, but as citizens of the country we are all friendly."
(More here.)
By SUSANNE CRAIG and NICHOLAS CONFESSORE, NYT
Del Frisco's, an expensive steakhouse with floor-to-ceiling windows overlooking the Boston harbor, was a festive scene on Tuesday evening. The hedge fund billionaires Steven A. Cohen, Paul Singer and Daniel Loeb were among the titans of finance there dining among the gray velvet banquettes before heading several blocks away to what they hoped would be a victory party for their presidential candidate, Mitt Romney.
The next morning was a cold, sobering one for these executives.
Few industries have made such a one-sided bet as Wall Street did in opposing President Obama and supporting his Republican rival. The top five sources of contributions to Mr. Romney, a former top private equity executive, were big banks like Goldman Sachs and JPMorgan Chase, according to the Center for Responsive Politics. Wealthy financiers - led by hedge fund investors - were the biggest group of givers to the main "super PAC" backing Mr. Romney, providing almost $33 million, and gave generously to outside groups in races around the country.
On Wednesday, Mr. Loeb, who had supported Mr. Obama in 2008, was sanguine. "You win some, you lose some," he said in an interview. "We can all disagree. I have friends and we have spirited discussions. Sure, I am not getting invited to the White House anytime soon, but as citizens of the country we are all friendly."
(More here.)
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