Obama Engages Execs

June 13, 2011 James Heinsman Hedge Fund News

President Barack Obama, Executives and Economic Recovery

Just a little before he announced the campaign for his re-election, President Barack Obama met with two dozen Wall Street executives in the Blue Room of the White House and engaged in a discussion on ways to facilitate and speed up the economic recovery. The discussion then moved on to hedge fund regulation and the deficit. The Democratic National Committee organized the event. Obama used it to try to convince the executives that ultimately his policies “far from undercutting the investor class, have helped bring banks and financial markets back to health.”

Investment Banker Blair W. Effron, (who is working closely with Obama’s fundraising efforts), said “the first goal was to get recognition that the administration has led the economy from an unimaginably difficult place to where we are today…the second goal is to turn that into support.”

Obama and Financial Industry

Obama’s top financial advisors remain confident that he’ll get the support he needs “despite the financial industry’s unhappiness over his efforts to tighten regulation of their businesses.” But there will need to be more effort put in to “win over the financial services industry than they did in 2008, before Wall Street’s bust, the subsequent clashes over policy and the sometimes bitter personal differences that lingered afterward.”

The investment bank executives (who have been very financially supportive of Obama in the past), currently “remain on the sidelines” Only a small percentage of them can be seen on “Obama’s joint campaign filings with the Democratic National Committee, though officials there said more would appear in the coming weeks.”

Blair W. Effron, Democratic National Committee, President Barack Obama, Wall Street.,

Comments are currently closed.