In 2008, Barak Obama received more money from the securities and investment sector capitalists than any other industry. Obama has started the ball rolling for the 2012 election and hopes to raise an astronomical one billion dollars, $250 million more than 2007-08. He was in San Francisco for a $35,800 per person fundraiser from the 60 or so people that were invited to attend.
Obama is hoping that this year will be a good fundraising year but some things are different than before as Business Week points out. One thing that is in his favor is that the donors won't be split this time around as he will not have a major struggle for the Democratic nomination with Hilary Clinton as he did in 2007-08 which split the donors. He has them all to himself now.
On the other hand, according to law if they haven't already found a way around it, a few of his heavy backers are barred from fundraising for him because they are enjoying the rewards for their generosity, or as Business Week puts it, they are "enjoying the perks of their past performance." Alan D Solomont, who BW describes as a Boston based philanthropist, media mogul, Charles Rivkin and tech lawyer John Roos who each gave Obama $500,000 in the 2008 campaign are now US ambassadors to Spain, France and Japan respectively.
One weak spot is the assault on dues checkoff by these Republicans. Dues checkoff is how most Unions receive their members monthly fees. The employers collect the money through the payroll system and write the Union a check. It is a great way for the Union tops to get revenue ion without doing anything. In the old days, reps used to go around and collect dues. It brought the Union in to contact with the members and the members in to contact with the leadership, something the present hierarchy avoids like the plague. But making it harder for Unions to collect dues threatens the coffers of the Democrats as well as the Union leaders contribute heavily to this party giving billions of dollars over the years. This alone was enough to give the Wisconsin Democrats the enough courage to flee the state; they are worried about election finances.
On April 27th another former Goldman Sachs CEO John Corzine will be holding a fundraiser for Obama and it will be a major test for the president as the Wall Street guys are a bit upset with Obama's rhetoric, calling them names and the like. It's not likely they will have anything to worry about though, it was all a game; "c'mon boys, he had to say that, there was a lot of anger out there." And lets not forget, he did say that there would be a time for making profits the old way, just not right then, the mood was too volatile. All of Obama's talk has come to nought, the war, EFCA, the public option for health care. The great anti-war president has opened another front in Libya and sent 30,000 more young Americans to Afghanistan at an initial cost of $30 billion to chase the 100 or so al Qaeda operatives there (Who the hell is al Qaeda anyway?)
So barring an upset it looks like the Republicans won't enter the White House in 2012. It's not such a bad thing, the capitalist class get one of their in no matter what; having two parties and no mass workers alternative is a very favorable situation for them.
For workers? We'll get screwed again. The heads of the organized Labor will hand over millions in hard earned workers dues money. They're backing Brown here in California in his efforts to savage jobs, wages and benefits and to cut services. They are supporting Brown in his efforts to put a band aid on the crisis by taxing workers and the middle class. It's no wonder Labor heads are down there with CEO's when it comes popularity contests.
And by the way, please, please take those damn Obama bumper stickers off your cars folks.
No comments:
Post a Comment