He's talking about campaign funds. $1 Billion is a little high though.
According to Wikipedia for the 2008 presidential election, Obama raised $779 million and McCain did $383 million. There were 148 canidates and all total the 2008 election raised $1.64 billion.
And honestly, I don't think the media industry accounted for more than a few hundred thou. He can afford to stiff them - and thus he did so. By doing that, he simulated having a spine on an issue that has clear bipartisan public support and is guaranteed not to piss off the _real_ power - banks.
Obvious calculus. Obama's a shitty President, but man is he a fantastic campaigner.
According to Wikipedia for the 2008 presidential election, Obama raised $779 million and McCain did $383 million. There were 148 canidates and all total the 2008 election raised $1.64 billion.
http://en.wikipedia.org/wiki/Fundraising_for_the_2008_United...