Obama’s NYC Campaign Donations May Not Be So Plentiful This Time

President Has Plenty Of Fence-Mending To Do With Wall Street

NEW YORK (CBSNewYork/AP) — After making a long form version of his birth certificate public, President Barack Obama flew to New York on Wednesday afternoon to tap Wall Street cash registers for campaign funds.

WCBS 880’s Peter Haskell: It Was A Stereotypical New York Crowd At The Town Hall

But his latest trip wasn’t expected to flow quite so freely, reports CBS 2’s Marcia Kramer.

New York City has been one of the president’s favorite places to raise campaign cash, but his anti-Wall Street policies appear to have taken their toll. Some hedge fund managers have now apparently turned their backs on the Democrats and are supporting the Republicans — to the tune of millions of dollars.

Wednesday marked Obama’s third trip to the city in the past few months to tap the political cash that in the past had moved quickly into the Democratic Party coffers. He dined with fat cats at the Red Rooster in Harlem in March and attended an event with The Rev. Al Sharpton in April.

But he may have run into some trouble on Wednesday because the cash cow hedge fund managers, fed up with his policies, have been moving to the Republican troughs.

An example: Wall Streeter Daniel Loeb was one of President Obama’s biggest fundraisers in 2008, rounding up $200,000 for him. But since Obama’s inauguration, Loeb has given $468,000 to Republicans candidates and the GOP and just $8,000 to Democrats.

Why the switch?

“Anybody that’s got the idea that Barack Obama is going to be able to go out and say ‘give me some money,’ they better have another thing coming in economic times like this when gas prices are where they are. It’s going to be hard,” CBS News political expert Bob Schieffer said.

Regardless,  three fundraisers were scheduled across midtown Manhattan, including an event at the home of financier and former New Jersey Gov. Jon Corzine and a dinner at The Waldorf-Astoria hotel.

Corzine, who lost his political job in 2009 despite Obama’s efforts to help him get re-elected, is a former chairman and CEO of Goldman Sachs. He has deep ties to the financial industry, which felt battered by Obama’s rhetoric blaming the financial crisis on “fat cat” Wall Street bankers. The industry also chafed at the subsequent overhaul of financial regulations.

Corzine now heads MF Global Inc., a financial services firm, and Obama has begun trying to repair his relations with the business sector.

From Corzine’s home, Obama headed to Park Avenue for a dinner at The Waldorf-Astoria, followed by a concert-style event at the Town Hall theater primarily for his younger supporters and featuring The Roots, a hip-hop band from Philadelphia.

“My name is Barack Obama. I was born in Hawaii, the 50th state of the United States of America,” he said to loud cheers Wednesday night.

Since he became a candidate for re-election on April 4, Obama has embarked on an aggressive inaugural fundraising tour that included three events in Chicago on April 14 and six events in two days last week in Los Angeles and San Francisco.

Obama raised $750 million for the 2008 campaign and hopes to top that for his re-election.

Earlier on Wednesday the White House released Obama’s birth certificate, but many are wondering if the move will be enough to put to all the rumors to rest.

“We are not going to be able to solve our problems if we get distracted by sideshows and carnival barkers,” Obama said.

It was clear from Obama’s tone that he felt the need to release a longer form of his birth certificate — it says he was born in Hawaii on Aug. 4, 1961– was not necessary for a man who is already the leader of the nation.

“We do not have time for this silliness,” Obama said.

But the president did have a sense of humor about the whole thing during a taping with Oprah Winfrey prior to coming to New York City, reports CBS 2’s Sean Hennessey.

“Can I just say, I was there, so I knew. I knew I had been born there. I remembered it,” Obama said to laughs.

Obama released the certificate because some in the Republican Party have been fanning the flames, suggesting that the president is not an American citizen and so not qualified to be in office.

Obama never named Donald Trump as one of the “carnival barkers,” but the never-bashful Trump took full credit, saying he was “honored to have played such a big roll.”

By not fully accepting the birth certificate Trump was clearly trying to play into the hands of the Obama opponents.

A poll last week showed large numbers of voters continue to doubt Obama is a natural-born American citizen.

Do you think New York will abandon the president? Please off your thoughts in the comments section below.

(TM and Copyright 2011 CBS Radio Inc. and its relevant subsidiaries. CBS RADIO and EYE Logo TM and Copyright 2011 CBS Broadcasting Inc. Used under license. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. The Associated Press contributed to this report.)

More from Marcia Kramer
  • nyc

    Keep making special costly trips to New York to be with Al Sharpton and see how that helps his campaign ! Actually does it matter as the GOP has Palin, trump and the red-neck tea baggers ?

  • Algia Dockery

    You know; obama has taken more criticism than any president n this country pass, even blamed for the present financial distress of this country. Well America had better wake up. . It was never expected that a black man ( the desendant of those who were once slaves would now be the cheif ruler of this USA.
    cicunstances. This pass ideology has been destroyed .

    people like Sarah Palin an the tea party are much of the blame for the revolt we see in other nations.; who say( lets tear up the country rather than let this black man be our chief ruler. She has proven the extent to which the caucasian race will go to sustain their ideology of caucasians being some superior race. Sorry: but those days that ideology has been destroyed . It is Americias long history of presidents and leaders that has caused this countries economic distress ( not simply Obama. As pertaining to Trump; he is a real clown. I would never vote for a rich person to rule ( ill take any joe blow from the streets rather than the rich. the money that the rich spend millions of dollars on campains and still lose the candacy. What a stoopid waste of money for fame and prestige.

    • sean Mohs

      from the lips of a racist your words are eloquently spoken…as a caucasian I dont see this man an African-American but a political slimeball. they come in all colors. It is people like you that will keep the counrty racially divided.

    • ted

      Shhh,can’t mix facts with Algia’s logic. She may get mad. Love how the whacko blames Sarah Palin for what the Middle East hsould have done decades ago.

  • Ruperto Abella

    Barack Obama is a typical lawyer. He would say to whoever what he would like to hear just to advance his message. Obama is selfish!

  • mikw pirsch

    if anyone is paying attention they would not call obama a communist…watching debates in 2008 not much difference betwen obama and mcclain…virtually no difference between democrats and republicans…both want to pick our pockets and it appears there are an abundance of fools who want to help them…

  • kelly

    Okay.. first, what’s wrong with being, rich, elite or opulent? Nothing that I can see. The problem comes in when those people oppose social programs that help the less fortunate, or fight regulations that protect the general public in order to become richer.

    Being rich does not make someone a villian, but nice try…

  • dabooch

    Obama first went to the treasury and tried to drop a IOU slip, but the printing press was operating at such a feverish pitch it almost tore the sleeve of his jacket off at the shoulder.


    Where ther is smoke, there is fire, so goes the saying and my fellow lawyer and barrister, Atty. Barack Obama, is well awarew that there is not only smoke in regard to his Birth Certificate. Matter of factly, I see smoke sreen in Atty. Obama appearing much preoccupid by whether or not he is a natural born American. He must be for he could have been impeached for culpable violations of the Constitution.
    Whatever it is, Ex-Gov. Sarah Palin of Alaska will surely be the next and first woman President of the great United States of America. Period.

    • Prince

      Ed L. Barcelona,if you’re truly a Lawyer and Attorney, then I’m ashamed of you.All your clients will loose their legal battles bcos you’re not intelligent and cannot present your defence properly. In summary, you do not sound intelligible and the university where you graduated from should withdraw their certificate from you. You must be a quack.

  • Fed Up

    Sart packing your boxes Obummer. Americans don’t want a Communist as their President. I can’t wait to vote Nov. 2012!

    • harris duruku

      well it seems you dont really know the differences between communism and capitalism i beg,you better go to north korea and cuba then come before you open up your mouth to talk!!

  • trade million

    open support or not, American want the economy out of woods,they will still support Obama.

  • trade million

    open support or not, American want the economy out of wood,they will still support Obama.

  • Debela G.

    I hope those people whom are given financial support for Obama will countinuede their support on behalf of him, because they understand that his policies are not to hert them rather as response to the changing world !!!!!!!!!!!!!

  • xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

    Obama will dine on some ribs tonight and a blond supplied by Wall Street

    • Robert

      If wall street is turning their back on him, then he must be doing something right. They are selfish self serving thieves looking out for themselves and their buddies, He is actually looking out for all the rest of us.

      • nyc

        I agree with you 100%. If anything, this makes Obama look better, unfortunatly having the $millions of dollars that you need to run and compete in politics is the American way !

  • Michael H.

    I’m not going to pick apart your whole list, but Schwab has given hundreds of thousands of dollars to Republican candidates.

  • Frank G Anderson

    Nincompoop? Trump seems to have done well enough. A bit limited in depth, perhaps, and being a dyed in blue New Yorker he may not fathom Washington politics.
    I supported Obama’s election three years ago, but will not this time around. You either make good on your promises or step aside.

  • chrissygnj

    Donald Trump is an egotistical nincompoop! IHe sullies the Republican Party by opening his mouth. My gosh, can’t anyone tell him to shut up so the rest of us can concentrate on what is really important??

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