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Obama Bundler Decries “Villification” Of Private Equity

Real Estate magnate Don Peebles says it’s “inconsistent” to demonize the industry “and then take money from it.” He’ll still support the president.

A top fundraiser for President Barack Obama’s presidential campaign expressed disappointment that he is taking money from the private equity industry while simultaneously attacking them to tarnish Mitt Romney’s record at Bain Capital.

Don Peebles, a Miami real estate executive who has raised more than $100,000 for the president’s campaign this cycle, told BuzzFeed “I think it’s difficult to attack or demonize an industry and then take money from it.”

“I think it’s inconsistent,” he added. “I wonder why the leaders of that industry are supporting him.”

Peebles, who is sometimes described as the largest-scale African-American real estate developer in the country, told BuzzFeed that he was wary of the ads by the Obama campaign and the pro-Obama Super PAC Priorities USA which have attacked Bain Capital.

“Any type of attack and vilification of a particular industry is not okay to begin with,” he said.

Peebles also said he was disappointed and surprised by Obama’s decision earlier this year to allow his campaign to help raise money for Priorities USA after pledging not do, questioning why he didn’t make a principled stand.

“In 2008 he took a stand against establishment candidates without corporate money. I understand this decision, but it’s a position I’m not in agreement with,” he said. “I was disappointed. I don’t the few hundred million dollars spent attacking this president will change how the electorate feels about President Obama, I think he will get reelected on his record.”

A spokesman for Peebles reached out to BuzzFeed to set up the interview — saying he is growing concerned by the growing influence of wealthy in campaigns on both sides of the aisle.

But Peebles will still support the president, he says.

“I’m definitely a supporter of his, I’m going to remain a support of his. But everyone singing in harmony about every issue is not productive either. It’s harder for us Democrats to complain about money in politics and super PACs if we’re doing the same things ourselves.”

Check out more articles on BuzzFeed.com!

 
 
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