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Fundraising With Private Equity?

- June 4, 2012

Obama Derides Private Equity While Fundraising With Its Supporters

TONIGHT, AVENUE CAPITAL CEO MARC LASRY HOSTS OBAMA  

Tonight, Obama Will Attend A Fundraiser At The Home Of Hedge Fund Manager Marc Lasry. “Reid Pillifant reported last week that President Obama and Bill Clinton will hold an event on Broadway on June 4, and an email sent to supporters puts that fundraiser as the third the two will hold that day - including a high-dollar event at hedge fund manager Marc Lasry's home, and another at the Waldorf Astoria.”  (Maggie Haberman, “A Bill Clinton-Barack Obama Fundraising Hat Trick In NYC,” Politico, 5/13/12)

  • Tickets For The Lasry Event Cost $40,000 Per Person. “The ask for the Lasry event is $40,000 a head, and will likely be a smaller event than the one immediately after it, at the Waldorf Astoria, where the price is $2,500 a head, but a chair title - writing a check of $35,800 or raising $100,000 - gets access to a photo reception.” (Maggie Haberman, “A Bill Clinton-Barack Obama Fundraising Hat Trick In NYC,” Politico, 5/13/12)
  • Lasry Has Raised At Least $200,000 For Obama. (Obama Volunteer Fundraisers, Accessed 6/4/12)

LAST WEEK, LASRY DEFENDED PRIVATE EQUITY 

Avenue Capital CEO And Obama Bundler Marc Lasry: Private Equity “Does Very Good Work.”  CNBC’S JOE KERNEN: “Private equity, do they do God's work or are they vampires?” LANDRY: “I think they do very good work.” (CNBC’s “Squawk Box,” 5/30/12) 

OBAMA’S NEGATIVE STRATEGY IS BACKFIRING

Obama’s Supporters Worry That His “In-Your-Face Negativity” Has Caused “A Backlash Among Independent Voters Who Have Finally Given Up The Image Of Obama As A New-Breed Politician.”  “But the president’s enemies, and a few of his friends, think his in-your-face negativity, on display in his attacks on Bain Capital and a snark offensive that included comparing Romney’s statements to a ‘cow pie of distortion,’ have produced a backlash among independent voters who have finally given up the image of Obama as a new-breed politician.” (Glenn Thrush, “Obama’s Negative Feedback Loop,” Politico, 5/30/12)

For Some Democrats, The Obama Campaign Is “Too Divisive, Too Conventional, And Too Nakedly Political.” “For many Democrats, this is just fine and dandy, for they believe that in the Romney-Republican agenda there is plenty to be scared of. For others in the party in both politics and business, however, the new Obama posture is cause for concern. From the gay- marriage decision to the onslaught on Bain, they see the president and his team as coming across as too divisive, too conventional, and too nakedly political, putting at risk Obama’s greatest asset his likability with the voters in the middle of the electorate who will ultimately decide his fate.” (John Heilemann, “Hope: The Sequel,” New York Magazine, 5/27/12)

 “Several Top Democrats” Said Obama’s Attacks “May Further Damage A Hope-And-Change Persona Already Dented” By The Past Three Years. “But several top Democrats interviewed by POLITICO said Obama’s recent attacks — including his long defense, at a press conference in Chicago last week, of his decision to target Bain — may further damage a hope-and-change persona already dented by three years of partisan combat and economic turmoil.” (Glenn Thrush, “Obama’s Negative Feedback Loop,” Politico, 5/30/12)

  • Senior Democrat Strategist Active In The Obama Campaign: “There Is Some Validity To The Point That We Lose Something By Attacking.” “After all, it was Clinton who infamously announced, ‘Now the fun part starts’ when she began directly attacking Obama in late 2007 — just before her campaign collapsed in the Iowa caucuses for want of a more positive and coherent message. ‘There is some validity to the point that we lose something’ by attacking Romney, said one senior Democratic strategist active in the campaign.” (Glenn Thrush, “Obama’s Negative Feedback Loop,” Politico, 5/30/12)

The New York Times’ David Brooks: “So I Think Starting Negative … Also Damages His Personal Reputation.” “And I question the Obama decision to go after, to start negative. They’ve decided to focus on a negative way and this seems to me self-destructive. People (inaudible) Obama, they like him personally, they admire him. And now I think he’s at a risk of throwing that away by starting negative, by going extremely tough and extremely hard, looking conventional and frankly, running ads that are inaccurate. The ad they ran against the steel company that Bain took over had a couple of inaccuracies that were the basis of the ad. They said the company was successful until Bain took it over, that’s false. They said Romney threw people out on the street, Romney was gone by then. They said they’re loading up debt, these companies and dumping them. These companies have no higher default rates than anybody else. So I think starting negative not only distracts you from what he should be talking about – the big agenda for structural problems, but also damages his personal reputation.”(NBC’s “Meet The Press,” 5/27/12)




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