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President-elect Barack Obama’s choice for White House chief of staff is one of the biggest recipients of Wall Street money in Congress, according to a Washington, D.C.-based “money-in-politics” watchdog group.He apparently was in sales in the securities business for awhile. He still seems to have the knack for selling himself as well as running things the Chicago way. He has more buddies on Wall Street than President Bush. The Democrats are going to have a hard time selling voters they are not the party of the rich.
The Center for Responsive Politics has issued a report highlighting millions of dollars in campaign contributions that Rep. Rahm Emanuel (D-Ill.) has raised from individuals working in the hedge fund industry, private equity firms, and large investment firms.
Emanuel has raised more money from individuals and political action committees in securities and investment businesses than from any other industry.
This comes after a presidential campaign that saw Obama frequently criticize Wall Street and blamed lack of government regulations for the economic crisis that hit the country in mid-September.
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For his own 2006 re-election campaign, where he faced no serious opposition, Emanuel raised $1.5 million from the investment industry. His other sources of contributions came from lawyers, who gave $682,900, while people working in the entertainment industries gave $376,100.
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