Wall Street’s cash keeps rolling in for Presidetial race

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Wall Street keeps on bank rolling both Democratic and Republican Presidential coffers. The strategy is to give campaign contributions to both sides in a unbalance ratio so if either of the horse wins they are still holding the reins. Whats more surprising, President Obama has raised more cash from financial sector than leading Republican candidate Mitt Romney according this latest report. The numbers are of course subject to change depending on who is reporting it. The relationship between President Obama and Wall street apparently continues in high gear. Its not a cozy relationship on the surface, but is not a cold one either. Wall Street continues to bet and bankroll Presidential campaign which is being discussed here among a group of veteran reporters on MSNBC ‘ Morning Joe program , take a listen.

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As the Presidential race is shaping up, both Republican candidates and President Obama are expressing themselves to Occupy Wall street protest. Both parties have hesitated to embrace this movement. President Obama has been circumstantial in his support and tapping it gingerly without any open and direct endorsement. He is cautious in providing any direct support. Mitt Romney and Herb Cain both have chided the Occupy Wall street movement and have taken pot shots at it. However recently Herb Cain has softened his harsh tone and improved his derogatory stand.

Recently Citigroup has settled with SEC for $285 million dollars in a complaint filed regarding mortgage backed securities. No person or individual has been convicted. The penalty has been one of the biggest since Citigroup received 45 billion dollars in 2008 from the Government bailout funds. It was regarded too big to fail.

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