Wall Street is abandoning President Barack Obama and the Democratic Party:

Daniel S. Loeb, the hedge fund manager, was one of Barack Obama’s biggest backers in the 2008 presidential campaign.

A registered Democrat, Mr. Loeb has given and raised hundreds of thousands of dollars for Democrats. Less than a year ago, he was considered to be among the Wall Street elite still close enough to the White House to be invited to a speech in Lower Manhattan, where President Obama outlined the need for a financial regulatory overhaul.

So it came as quite a surprise on Friday, when Mr. Loeb sent a letter to his investors that sounded as if he were preparing to join Glenn Beck in Washington over the weekend...

Over the weekend, the letter, with quotations from Thomas Jefferson, Ronald Reagan and President Obama, was forwarded around the circles of the moneyed elite, from the Hamptons to Silicon Valley. Mr. Loeb’s jeremiad illustrates how some of the president’s former friends on Wall Street and in business now feel about Washington.

Mr. Loeb isn’t the first Wall Streeter to turn on the president. Steven A. Cohen, founder of the hedge fund SAC Capital Advisors and a supporter of the Obama campaign, recently held a meeting with Republican candidates in his home in Greenwich, Conn., to strategize about the midterm elections, according to Absolute Return magazine.

These banksters are turning their backs on President Obama and the Democratic Party because they're not carrying their water. Instead, the President and the Democratic Congress are standing up to Wall Street and holding them accountable.

Feeling burned by Obama, the Wall Street banksters turning to the Republicans and filling their campaign coffers because today's Republican Party is the party of Wall Street.

New York Communities for Change has launched an innovative campaign to keep Americans in their homes: keep people in their homes, or else. They introduce the campaign:

We all know the Big Banks triggered the forecosure crisis in this country through predatory lending practices. Now they have the power to fix it - by working with families facing foreclosure, these banks can modify their loans to allow them to make payments and stay in their homes. But the Big Banks refuse to do this. It's time to send the banks a message - change your ways, or we move our money.

Fill out the form below to send an email to the CEO's of the Big Five - Chase, Citi, HSBC, B of A, and Wells Fargo, letting them know that if they don't improve their loan modification policies by August 31st, YOU will move your money to another bank and refuse to do business with any of these five.

Take the pledge. And, help keep Americans in their homes.