Did you know? The Patriot Post is funded 100% by its readers. Help us stay front and center in the fight for Liberty and support the 2024 Year-End Campaign.

October 30, 2009

The Obama White House: Bundlers’ Paradise

Like Capt. Renault in “Casablanca,” I am shocked, shocked to discover that access peddling is going on in the Obama White House. Perks for deep-pocketed donors? Presidential meetings for sale? The stale Chicago odor of pay-for-play wafting from 1600 Pennsylvania Avenue? Knock me over with a feather.

Despite the president’s claimed distaste for the campaign finance practice known as “bundling” (rounding up aggregate contributions from friends, business associates and employees), the House of Obama has been a campaign finance bundlers’ paradise from Day One. A new report by Matthew Mosk of The Washington Times just confirms the gob-smackingly obvious: It’s business as usual in the era of Hope and Change. O’s wealthiest Democratic donors have received lavish receptions, golf outings, bowling dates and movie nights with Obama.

And internal Democratic National Committee documents acquired by the Times reveal that “high-dollar fundraisers have been promised access to senior White House officials in exchange for pledges to donate $30,400 personally or to bundle $300,000 in contributions ahead of the 2010 midterm elections.” Yup, they’re just haggling over the price.

Many Obama bundlers have secured slots on federal advisory panels and commissions. Still more have benefited from the time-honored patronage tradition of rewarding political benefactors with ambassadorships. Clinton did it. Bush did it. And despite all his fantastical, Balloon Boy-level rhetoric of bringing a “new politics” to Washington, Obama’s done it, too.

His ambassador to London, Louis Susman, is a Chicago crony with no diplomatic experience who bundled between $200,000 and $500,000 for Team Obama and is known as “The Vacuum Cleaner” for his fundraising prowess. His ambassador to France, entertainment mogul Charlie Rivkin, headed up Obama’s California fundraising operations, raking in $500,000 for the campaign and another $300,000 for the inaugural. His ambassador to Spain, Boston moneyman Alan Solomont, also bundled the same amounts for the campaign and inaugural.

In June 2008, candidate Obama railed: “We need a president who will look out for the interests of hardworking families, not just their big campaign donors and corporate allies.” Immediately after the speech, he headed to a campaign fundraiser at the Manhattan headquarters of Credit Suisse, one of the major investment companies caught up in the subprime lending debacle. President Obama collected $3 million last week at another Manhattan fundraiser after carping about Wall Street’s “self-interestedness.” Audacity is his middle name.

When Obama inveighs against Wall Street greed and politicians beholden to Big Business, remember this: The Wall Street gamblers that Obama and his wife carped about on the campaign trail shoveled money to his campaign hand over fist. According to the Center for Responsive Politics, hedge funds and private equity firms donated $2,992,456 to the Obama campaign in the 2008 cycle. No fewer than 100 Obama bundlers are investment CEOs and brokers: Nearly two dozen work for financial giants such as Lehman Brothers, Goldman Sachs or Citigroup.

Obama happily accepted more than $200,000 in bundled contributions from billionaire hedge-fund manager James Torrey, more than $100,000 in bundled contributions from billionaire hedge-fund manager Paul Tudor Jones and more than $50,000 in bundled contributions from billionaire hedge-fund manager Kenneth C. Griffin, chief executive officer of Citadel Investment Group in Chicago. Another notable: Chicago investment banker James Reynolds, who raised more than $200,000 for the Obama campaign while chief executive of Loop Capital Markets. The municipal bond specialist was a longtime friend of Obama’s – feting the rising star in his Hyde Park home and convincing friends and associates to open up their wallets more than a decade ago.

In 2003, USA Today reported, Reynolds was caught on FBI wiretaps arranging what prosecutors called a “sham” consulting contract with a gal pal of a Philadelphia mayoral adviser. After the conversations, Reynolds snagged $300,000 in no-bid city contracts for Loop Capital Markets. City officials went to jail over the scam. Reynolds skated. The Obama campaign’s only statement? “Jim Reynolds has admitted that he made mistakes, but he has not been charged with any wrongdoing.”

Fortunately for Obama bundlers who may find themselves in legal trouble in the future, Clinton-era donor-maintenance fixer Eric Holder (who oversaw the pardon for fugitive financier Marc Rich) is guarding the henhouse at the Justice Department.

Every corner of the Obama administration is stuffed with crony moneybags. Take the first lady’s social secretary, Desiree Rogers. More than a party planner, she’s a fundraising machine in her own right. According to left-wing watchdog Public Citizen, Rogers bundled more than $200,000 for Obama and contributed $28,500 to Democratic committees. Rogers’ ex-husband, John W. Rogers Jr., chief executive of multibillion-dollar Ariel Capital Management, played basketball with Michelle O’s brother, Craig Robinson, at Princeton. Mr. Rogers also served as a campaign finance bundler for Team Obama – and hung with Obama in the White House on Super Bowl Sunday.

An indignant White House says this is about “friendship,” not influence peddling. But as Obama himself noted in 2007: “It is no coincidence that the best bundlers are often granted the greatest access, and access is power in Washington.”

Indeed, the Obama White House policy can be summed up in four words: No Bundler Left Behind.

COPYRIGHT 2009 CREATORS.COM

Who We Are

The Patriot Post is a highly acclaimed weekday digest of news analysis, policy and opinion written from the heartland — as opposed to the MSM’s ubiquitous Beltway echo chambers — for grassroots leaders nationwide. More

What We Offer

On the Web

We provide solid conservative perspective on the most important issues, including analysis, opinion columns, headline summaries, memes, cartoons and much more.

Via Email

Choose our full-length Digest or our quick-reading Snapshot for a summary of important news. We also offer Cartoons & Memes on Monday and Alexander’s column on Wednesday.

Our Mission

The Patriot Post is steadfast in our mission to extend the endowment of Liberty to the next generation by advocating for individual rights and responsibilities, supporting the restoration of constitutional limits on government and the judiciary, and promoting free enterprise, national defense and traditional American values. We are a rock-solid conservative touchstone for the expanding ranks of grassroots Americans Patriots from all walks of life. Our mission and operation budgets are not financed by any political or special interest groups, and to protect our editorial integrity, we accept no advertising. We are sustained solely by you. Please support The Patriot Fund today!


The Patriot Post and Patriot Foundation Trust, in keeping with our Military Mission of Service to our uniformed service members and veterans, are proud to support and promote the National Medal of Honor Heritage Center, the Congressional Medal of Honor Society, both the Honoring the Sacrifice and Warrior Freedom Service Dogs aiding wounded veterans, the National Veterans Entrepreneurship Program, the Folds of Honor outreach, and Officer Christian Fellowship, the Air University Foundation, and Naval War College Foundation, and the Naval Aviation Museum Foundation. "Greater love has no one than this, to lay down one's life for his friends." (John 15:13)

★ PUBLIUS ★

“Our cause is noble; it is the cause of mankind!” —George Washington

Please join us in prayer for our nation — that righteous leaders would rise and prevail and we would be united as Americans. Pray also for the protection of our Military Patriots, Veterans, First Responders, and their families. Please lift up your Patriot team and our mission to support and defend our Republic's Founding Principle of Liberty, that the fires of freedom would be ignited in the hearts and minds of our countrymen.

The Patriot Post is protected speech, as enumerated in the First Amendment and enforced by the Second Amendment of the Constitution of the United States of America, in accordance with the endowed and unalienable Rights of All Mankind.

Copyright © 2024 The Patriot Post. All Rights Reserved.

The Patriot Post does not support Internet Explorer. We recommend installing the latest version of Microsoft Edge, Mozilla Firefox, or Google Chrome.