Liberal, Irreverent

Tuesday, April 26, 2011

Hedge Funds Abandon Obama

Barack Obama who came promising progressive change and the whole nation supported him with big a victory, later betrayed us all because, well, he had to pay back all that support. Now   After all those special interest got what they wanted from Obama (while the people who put him in office got nothing), they turned to the old ways and are supporting GOP back. What should we think about Obama? He is either a moron who thought hedge funds would be his allies or an opportunist who promised things to ordinary citizens just to get in power but his allegiance was really with the special interests (a tempting theory given all good progressive ideas he has let die). In any way the reality is that ordinary citizens aren't represented by corporate Democrats or Republicans. The only hope for all of us is to elect many more progressives at all levels of government. That is why I say again that progressive should not donate to democratic party organizations (your money will be used to help blue dogs). Donate to Progressive organizations and to Progressive candidates directly.

from Politico

TOP TALKER: HEDGE FUNDS SHORT OBAMA - WSJ's Brody Mullins, Susan Pulliam and Steve Eder on pg. A1: "Hedge-fund managers made a big bet on Barack Obama and other Democrats in 2008. Now, with the 2012 contest gearing up, some prominent fund managers have turned their backs on the party and are actively supporting Republicans. Daniel Loeb, founder of Third Point LLC, was one of the biggest Obama fund-raisers in 2008, rounding up $200,000 for him ... But since Mr. Obama's inauguration, Mr. Loeb has given $468,000 to Republican candidates and the GOP, and just $8,000 to Democrats. ... Mr. Loeb is part of a shift in political allegiance within the world of hedge funds that also includes such big names as Steven Cohen's SAC Capital Advisors and Kenneth Griffin's Citadel Investment Group." 

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