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MSNBC Analyst: Obama's Chasing 'Gay Money' Because Wall Street Has Left Him

Scarborough: Why is the press allowing Obama to "get away" with this?

Did you know about a special category in political fund raising called "gay money?" Apparently this type of currency is in abundant supply and coveted by the Obama-Biden campaign.

And after learning about "gay money" on MSNBC's "Morning Joe," we wonder if this might be the real reason behind both the Biden declaration and push to change the president's official stance on gay marriage before the upcoming election.

Monday on MSNBC, the network's Chief White House Correspondent Chuck introduced the term (while Joe Scarborough lamented the press was letting Obama "get away" with being on both sides of the gay marriage issue):

"Gay money"? Seriously? Why would Obama-Biden need to specifically chase that specialized of a donor pool? First we must ask a different question brought up by Todd: Has the Obama-Biden campaign really lost the Wall Street money? It appears that the facts back up that statement. The Huffington Post has tracked Wall Street's money move from Obama to Romney:

The abandonment of the president by the financial sector has, indeed, been remarkable in scope and speed. Some of the very companies whose employees cut checks for Obama in 2008 now seem fully devoted to funding his competitor in 2012.

HuffPo's story continues:

In the fourth quarter of 2011, Romney raised $1.49 million from employees of those 68 companies while the president's reelection campaign raised just $127,000 -- an 11.7-to-1 ratio. It was the most lucrative quarter for Romney yet.

Perhaps there is something to this theory that Wall Street is leaving Camp Obama. Last week, Forbes reported that JP Morgan Chase head Jamie Dimon was at odds with the President.

So how real is the Obama "gay money" topic? A quick look at the FEC rolls shows some large donations from some pretty famous gay Americans, including TV Host and Financial Expert Suze Orman. Check out Ms. Orman's recent donations (all of it to DEMS):

  • 2008: $28,500
  • 2010: $25,000
  • 2011: $30,500

All that said, the Biden's surprise declaration of his support for gay marriage from Sunday's "Meet The Press" is curious. Of course the veep's handlers and the Obama administration went into full spin mode after. In fact, the scrambling provided for some spirited moments from Jay Carney during yesterday's White House press briefing. Currently, the explanation ranges from the old political "Trial Balloon" to "just Joe being Joe"

But thanks to Chuck Todd, there's also another possibility: Could this have been the Obama campaign extending an olive branch to the gay community -- and its "gay money?"



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