The PJ Tatler

MF Global ties "awkward" for Obama campaign according to Washington Post

Occupy Wall Street folks sitting in your tents, listen up!

Here are some highlights from a piece in the Washington Post entitled MF Global ties awkward for Obama.

Please read this for you might all learn something about President Obama and his strong ties to “greedy money people” on Wall Street.

It starts with…

“The bankrupt financial company MF Global, now under federal investigation for possibly misusing clients’ money, is one of the top sources of contributions for President Obama’s reelection, complicating the campaign’s effort to turn public anger at Wall Street into a political advantage. Employees of the company have given $108,650 to Obama’s campaign and the Democratic National Committee, according to federal records. MF Global’s chairman and chief executive, former New Jersey governor Jon Corzine, has raised at least $500,000 for the campaign and the DNC as a “bundler,” or volunteer fundraiser.”

And then…

“The president has voiced support for recent protests against the financial industry and his campaign aides have said they plan to use the Occupy Wall Street movement to help build momentum for his reelection.”

But it gets better…

“Obama held his first New York fundraiser for the reelection campaign at Corzine’s home on Fifth Avenue in Manhattan, overlooking Central Park. Guests gave the maximum $35,800 donation to Obama and the DNC.”

And best of all is….

“MF Global recently made a bond sale with an unusual clause, saying the interest rate on the bonds would rise 1 percent if Corzine ended up being appointed to a post in the Obama administration. There has been speculation that he could be in line for Treasury secretary if the president is reelected.”

This report is the basis for a Republican campaign ad that practically writes itself. 

And now we know the real meaning of the “1 percenters.”