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Recommend "Nicholas Confessore" - Obama Seeks to Win Back Wall St. Cash (Email)

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Published on Monday, June 13, 2011 by The New York Times

http://www.nytimes.com/2011/06/13/us/politics/13donor.html

by Nicholas Confessore

WASHINGTON — A few weeks before announcing his re-election campaign, President Obama convened two dozen Wall Street executives, many of them longtime donors, in the White House’s Blue Room.

US President Barack Obama has returned to where the money is as the US heads for campaign season. The question is not how much he may or may not raise from Wall Street 'fat cats'. The question is, what do they get in return? The guests were asked for their thoughts on how to speed the economic recovery, then the president opened the floor for over an hour on hot issues like hedge fund regulation and the deficit.

Mr. Obama, who enraged many financial industry executives a year and a half ago by labeling them “fat cats” and criticizing their bonuses, followed up the meeting with phone calls to those who could not attend.

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