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Obama is back on the Wall Street warpath — but this time it’s not to criticise banker paychecks and lack of regulation; he’s on the warpath to win them back.Before he announced his re-election bid back in early April, Obama called about 24 Wall Street bigwigs to Washington, according to the New York Times.
They met in the Blue Room in the White House and talked about the recovery, the deficit and hedge fund regulation.
Eric Mindich was there; so was Paul Tudor Jones, Jamie Dinan and Glen Dubin. Banker-wise, Robert Wolf, CEO of UBS Group Americas was there too.
Obama’s plan to win back Wall Street involves using those finance titans go out and defend his policies and recruit others to the Democratic cause.
Remember, Obama reaped millions in donations from prominent hedge fund managers in 2008; Steve Cohen; Dan Loeb; Cliff Asness — they loved him. But the 2010 election cycle showed a massive swing to the right for the hedge fund crew. Those previously loyal investors have abandoned the Democrats for the GOP.
Now Obama is said to have dispatched his campaign manager Jim Messina to New York in May, the Times said, to speak with Wall Street execs too, including Marc Lasry.
Other financiers that have been called to the frontline include: Orin Kramer, Mark Gallogly (hedge funders); Antonio Weiss, Charles Myers, and Jes Staley (investment bankers); Lenard Tessler and Hamilton James (private equity).
And apparently he’s been using Bill Daley, his chief of staff and a former JP Morgan chief, to reach “out to Wall Street executives about policy issues, donors.”
Obama will be in town this month to meet with banking, private equity and hedge fund top brass at the Upper East Side restaurant, Daniel.
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