Tuesday, June 14, 2011
After you publicly chastise individuals, how do you get them to donate money to you? This is the conundrum that President Obama is facing with the Wall Street financial community. He wants their money to help in his re-election campaign, but at the same time, he is showing little mercy toward them in his rhetoric. One might venture that it is hypocritical for the President to take money from those he vilifies, but politics produces odd pairings. One might guess that the quid pro quo that Wall Streeters are looking for is a softening of the language that Democrats use against them. They are also looking for delays in the proposed new regulations to hem them in. Whatever the outcome, the President's effort to collect money from financiers is bound to be controversial in his own party as well as among the financial community. From a PR perspective, it makes little sense.