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While Another Politician Makes the Rounds with Wall Street Supporters

June 24, 2011

Goldman CEO Lloyd Blankfein and JPMorgan CEO Jamie Dimon did not attend Thursday night's event at famed New York restaurant Daniel, but that didn't stop a large contingent of bankers, private equity execs and hedge fund managers from welcoming President Obama.   The financiers each spent $35,800 to dine with Mr. Obama on a meal that included Maine lobster salad with roasted beets, duos of Black Angus beef, braised short ribs with young spinach, and roasted tenderloin with stuffed potato and hen of the woods. The dinner, of course, was prepared by Mr. Boulud who, according to a spokesperson, is strictly nonpartisan when it comes to politics.

The President traveled to New York for several fund-raising event, including the extravagant dinner.  A similar benefit was held in April at the home of the wife of Jon Corzine, the ex-governor of New Jersey and former CEO of Goldman Sachs.  Both events are part of a concerted effort to lure deep-pocketed donors back to Mr. Obama’s corner for his 2012 re-election campaign. 

However, some longtime Democrats in the finance community, angered by Mr. Obama’s comparisons of Wall Street executives to “fat cats” with outsize bonuses, have chafed at Mr. Obama’s attempt at an election-year rapprochement, and only a handful of bank executives appear as donors in recent filings connected to the campaign. 

Nevertheless, the President was the hottest ticket in town - despite the fact that Justin Bieber was in New York, as well, introducing his new fragrance.  [Is he old enough to wear cologne?]   [Dealbook, 6/23/11]