Who is for Barney Smith or Smith Barney?: The Swamp
The Swamp
Posted August 29, 2008 6:45 AM

The Swamp

by Aamer Madhani

In the leadup to Sen. Barack Obama's acceptance speech last night, a series of plain-spoken Americans testified about their support of the Democratic nominee.

It was a nice show of average Americans explaining their passion for the campaign.

Without a doubt the supporter who had the biggest laugh line was Barney Smith, a displaced manufacturing worker from Marion, Ind., who took a shot at the brokerage firm Smith Barney.

Smith Barney had its image tarnished for its financing of Enron Corp., the Houston-based energy company which had an epic collapse due to dodgy accounting procedures. The financial collapse, ultimately, led to the ruin of many blue collar workers' pension funds which were invested in what was considered a blue chip company.

"We need a president who puts Barney Smith before Smith Barney," Smith said.

Nice shot, Barney.

But for the record, it's probably worth noting that both Obama and Sen. John McCain have received a tidy sum in campaign donations from employees of Citigroup, the $1 trillion financial services group that Smith Barney is part of.

Obama received more than $408,000 in contributions from Citigroup employees and families in 2008 while McCain received more than $268,000 this year, according to OpenSecrets.org, a campaign finance web site run by the Center for Responsive Politics.

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