Fundraising in 2012 Presidential politics

Why is President Obama losing the "money" race in this year's election?  In this story in The New Yorker magazine, Jane Mayer writes that the President's campaign hasn't taken the time to cultivate the big donors who give hundreds of thousands of dollars (or more) to get men and women elected.  Here is an excerpt:

"… By the time that Obama ran for President, in 2008, his relations with the financial industry had grown warmer, and he attracted more donations from Wall Street leaders than John McCain, his Republican opponent, did. Yet this good feeling did not last, despite the government’s bailout of the banking sector. Many financial titans felt that the President’s attitude toward the “one per cent” was insufficiently admiring, even hostile. … [Instead of getting to talk to the President about their issues at events, the Wall Street crowd got] about seven minutes per table, each of which accommodated eight donors. This was fundraising as speed-dating. …"

Read the entire article, "Schmooze or lose: Obama doesn’t like cozying up to billionaires. Could it cost him the election?" by Jane Mayer here.