Looks like Obama is gonna face the wrath of bankers across Wall Street:
NEW YORK — Profits and bonuses are down across Wall Street. Banks are slicing jobs and shuttering once profitable trading units in the face of new regulations.
But the financial services industry is poised to set records in one arena in 2012: politics.
The beleaguered sector is pumping tens of millions of dollars into campaigns and newly dominant super PACS as one of Wall Street’s own seeks the White House and the industry looks to roll back key parts of the Dodd-Frank financial reforms. The goal is to oust a president and some members of Congress whom many bankers view as openly hostile toward them.
Yeah, they are so “beleaguered” that they are dropping tens of millions into Super PACs.
Note to POLITICO: If rich people are crying about not making as much money as they once were during their high-rolling days, you should probably ask where they are finding all the money to donate to campaigns.