Much has been made of the supposed falling out between President Obama and Wall Street since he was elected. What started out as beautiful bromance quickly appeared to devolve into public insults and both sides saying stuff like “he never mattered that much to me,” when you know such was not the case. Many have wondered if the anti-business rhetoric will drive the executives into the arms of another man. Apparently the answer is no. While some wounds are still open and there’s a lot of work that needs to be done in order for everyone to trust each other with his heart, it’s at least looking like they still want to be together.

For all the money that banks are steering to the GOP this midterm election, once tomorrow’s vote is over we can expect them to kiss and make up with the president who’s brought them billions in profits while the rest of the country has continued to struggle…The occasional dressing-down notwithstanding, the president and his administration are still seen by many on Wall Street (and Main Street) as being on the side of Wall Street. Or as one senior J.P. Morgan executive told me recently under condition of anonymity: “We may be pissed at Obama, but when it comes down to it, he was pretty good for our business.”

We’re not back to chest bumps in the Oval Office yet, but we’re getting there.

Wall Street Still Doesn’t Love The GOP [WSJ]

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Comments (98)

  1. Posted by Guest | November 1, 2010 at 2:17 PM

    senior J.P. Morgan executive = security guard at 270 Park asking Charlie to leave the building

    Nice scoop Chaz.

  2. Posted by Boris | November 1, 2010 at 2:24 PM

    In soviet russia, everyone like government.

  3. Posted by PasteSpecialFormats | November 1, 2010 at 2:27 PM

    We may be pissed at Obama, but when it comes down to it, he’s pretty good in a snuggle shesh.

  4. Posted by Guest | November 1, 2010 at 2:30 PM

    From the WSJ comments: “It should be noted that Mr. Gasparino’s use of the word ‘tenant’ to describe the Tea Party’s principles should instead be ‘tenet.’ Comprehension is everything.”

    BAM! CG gets bitch slapped.

  5. Posted by Jdlf | November 1, 2010 at 2:32 PM

    not a fan of CG, but that’s more like, BAM! WSJ editor gets bitchslapped, as the piece clearly had to be seen by a few more eyes than cg’s before it went to print.

  6. Posted by Guest | November 1, 2010 at 2:40 PM

    I need a moment.

    -Kernen

  7. Posted by Boyd Lankfein | November 1, 2010 at 2:42 PM

    That J.D. is such an ass-kisser.

  8. Posted by Guest | November 1, 2010 at 2:47 PM

    JPM should let their coal traders manage their relations with the White House.

  9. Posted by danker banker | November 1, 2010 at 4:01 PM

    not withstanding your use of notwithstanding, it’s an interesting post

  10. Posted by danker banker | November 1, 2010 at 4:01 PM

    not withstanding your use of notwithstanding, it’s an interesting post

  11. Posted by danker banker | November 1, 2010 at 4:01 PM

    not withstanding your use of notwithstanding, it’s an interesting post

  12. Posted by Bear Energy team | November 1, 2010 at 4:24 PM

    …another reason to leave JPM

  13. Posted by Anonymous | November 2, 2010 at 2:31 AM

    In the same way they made The Social Network, years from now we will all watch as Wesley Snipes and Mel Gibson portray the feuding Bama and Dimon, who will claim not to like it, while secretly treating their respective staffs to private viewings (of the movie). The movie will end with the commoners, the masses, burning down the White House with flammable tea, and sultry Kate Winslet with died hair, playing Palin, leading us forward (into collapse).

    Business knows who butters their bread, and who has good judgment, and who to side with situationally to get what they need. In the same way Goldman contorted into the business structure it needed to ride the credit crunch wave, so too Wall Street.

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