Chrstia Freeland writing in The New Yorker on why the ultrarich feel vicimized by Obama...
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The purported activation of the fund-manager “sleeper cell” is more than the self-aggrandizement of the super-rich. It is having a material and intellectual impact on the 2012 campaign. Historically, incumbent Presidents have enjoyed a strong fund-raising advantage. Going into this year’s race, President Obama had the further benefit of his record-breaking haul in 2008. Yet the Republican National Committee and Romney, a mechanical campaigner whose ability to inspire passion in the Republican base was widely questioned during the primaries, hold a huge cash advantage over Obama. The biggest shift has been among wealthy businesspeople, particularly in financial services. Romney’s advantage is compounded by the advent of Super pacs in this Presidential campaign, which are not subject to the same contribution limits as parties or candidates. The Republican-aligned Restore Our Future, for instance, has raised ninety-six million dollars this election season, and many of its top donors, who give a million dollars or more, work in finance.
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