The young Wall Street Republicans filling an East 60th Street tavern were sipping grapefruit-vodka cocktails under flag-colored balloons when Fox News delivered election results that quieted them. “Look,” Matthew Swift said to A. Beaumont Allen, pointing up at a screen as Fox called Ohio for President Barack Obama. The two 26-year-olds paused as the TV flashed Obama’s re- election around 11:20 p.m. on Nov. 6. “There Is a Light That Never Goes Out,” the Smiths ballad with lyrics about a car crash, came on the stereo. A woman implored the crowd to drink. Concord 51, a political-action committee of young professionals, threw the party for guests who work in private equity, consulting, law, hedge funds and corporate strategy…Blake Saunders, a 26-year-old investment banker at Methuselah Advisors LP, stood near the bar. “When you push off all these different things that are always brought to the forefront in a primary election,” he said, “like social issues like gay marriage and abortion, if you get to the core of most young people, from 20 to 40 years old, their ultimate thing is they want to wake up the next morning and smile at their children and say, ‘I’m providing for my family.’” [Bloomberg]
At the private air terminal at Logan Airport in Boston early Wednesday, men in unwrinkled suits sank into plush leather chairs as they waited to board Gulfstream jets, trading consolations over Mitt Romney’s loss the day before. “All I can say is the American people have spoken,” said Kenneth Langone, the founder of Home Depot and one of Mr. Romney’s top fund-raisers, briskly plucking off his hat and settling into a couch…As the morning wore on at Logan Airport, more guests from Mr. Romney’s election-night party at the Boston Convention and Exhibition Center trickled in, lugging garment bags and forming a small line at the security checkpoint. “It’s going to be a long flight home, isn’t it?” said one person, who asked not to be identified. The investor Julian Robertson, who held fund-raisers for Mr. Romney and gave more than $2 million to a pro-Romney super PAC, arrived with several companions. Mr. Robertson spotted an acquaintance: Emil W. Henry Jr., an economic adviser and a fund-raiser for Mr. Romney, to whom Mr. Robertson had offered a ride on his charter. “Aww, group hug,” Mr. Henry said. [NYT]
Already exhausted from a massive cleanup and nightmarish commutes to work, thousands of U.S. voters in storm-struck New York and New Jersey encountered confusion and long lines as they tried to cast ballots in a cliffhanger presidential election…Voting at the YMCA on West 63rd Street in Manhattan was delayed because election officials could not find the ballot cards and scanners were not working properly. Among those arriving to vote there was Lloyd Blankfein, the chief executive of investment banking powerhouse Goldman Sachs. He left before voting there began. [Reuters]
Dennis Gartman, publisher of the widely-read Gartman Letter, is predicting that Mitt Romney will win the presidential election, according his latest newsletter. Not only does Gartman think that Romney has a chance of winning the election, but he believes he can win “quite handily.” [...] Still, Gartman points out that he could be “terribly wrong” with his prediction. [Clusterstock, related]
A slot previously held by a certain Home Depot founder who’d better step his shit up next time he’s on CNBC. Read more »
Last November, hedge fund manager Leon Cooperman penned an “Open Letter To The President Of The United States of America,” in which he detailed the many ways Barack Obama was pissing him off. The Omega Advisors founder accused the President (and his “minions”) of engaging in class warfare, expressed disbelief that he could attack “capitalists who…fill store shelves at Christmas” and still sleep at night, and advised Obama to “eschew the polarizing vernacular of political militancy,” lest he lose Cooperman’s vote the next year. While LC says that he received a major outpouring of support for his words (“[he] keeps a bulging manila folder of congratulatory notes in his office”), others were less than pleased at what they saw as a guy who has actually done pretty okay under Obama lashing out because his feelings were hurt on the occasions the president was perceived to have a “tone” in his voice when discussing the mega-wealthy (“If I knew where you lived, I’d put a bomb in your car,” one person wrote Cooperman to say).
Similarly, Cooperman’s suggestion, made publicly several times, that America should be worried about the startling parallels between Obama’s rise to power and that of Adolf Hitler,* was met with mixed reviews, including one by his wife in which she called him a “schmuck.”
And while some** have found it preposterous that Cooperman would paint himself as a victim of Obama, their astonishment speaks to not knowing the whole story, i.e. exactly what this man- no, this monster- did to Leon, and why he is not fit to be President of the United States of America. Read more »
As you may have heard, the Democratic National Convention was held in Charlotte this week. As you may have also heard, some people who figuratively work on Wall Street have had their feelings hurt over the last several years by President Obama, who they believe could have chosen his words more carefully when speaking about the industry. Bankers, traders, hedge fund managers, and pissant first-year analysts have emotions too, y’know, and calling them things like “fat cats” really stings, almost as much as the things you don’t say, like “S-U-P-E-R, That’s what Wall Street bankers are” every time someone wins a deal, or just shaking general pom-poms of encouragement in the lobby as people arrive every morning.
So you can imagine that those working in close proximity to the convention were particularly nervous for what brand of emotional torture the administration had in store for them, and came into the week with their guards on high alert. Read more »
Even more telling, Ryanism’s alarming ascendancy has stripped the veneer off some centrist groups long-believed by some on the right to front for liberal policies. For example, the cofounder of the nonpartisan self-described “moderate” organization Third Way has described Ryan as a “radical and a bomb-thrower.” (So shrill have the organization’s attacks on Ryan been that they provoked long-time Third Way donor and trustee Daniel Loeb, a New York financier, to resign his board membership in disgust, writing, “I can no longer support a group which is in the back pocket of this administration.”) [TWS]
By the time that Obama ran for President, in 2008, his relations with the financial industry had grown warmer, and he attracted more donations from Wall Street leaders than John McCain, his Republican opponent, did. Yet this good feeling did not last, despite the government’s bailout of the banking sector. Many financial titans felt that the President’s attitude toward the “one per cent” was insufficiently admiring, even hostile…When George Soros wanted to meet with Obama in Washington to discuss global economic problems, Obama’s staff failed to respond. Eventually, they arranged not a White House interview but, rather, a low-profile, private meeting in New York, when the President was in town for other business. Soros found this back-door treatment confounding. “He feels hurt,” a Democratic donor says. “They pissed on him,” a confidant says. “He didn’t want a fucking thing! He didn’t want a state dinner, or a White House party—he just wanted to be taken seriously.” [New Yorker]