Skip to comments.Why Wall St. Is Deserting Obama
Posted on 08/31/2010 3:30:47 PM PDT by Innovative
A registered Democrat, Mr. Loeb has given and raised hundreds of thousands of dollars for Democrats.
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.
...some of the president's biggest supporters have so publicly derided his policies, even at the risk of hurting their ability to influence the party in the future
(Excerpt) Read more at finance.yahoo.com ...
They’re original support for him proves that they are simply rich idiots. I guess we should be happy that he hasn’t “fooled them twice.”
Cause they’re racists? Oh, yeah. They supported him in 2008. Guess that accusation won’t stick.
“A registered Democrat, Mr. Loeb has given and raised hundreds of thousands of dollars for Democrats.”
There’s your problem right there, Jack. At least I realized the difference and made the switch early in life. It’s even 100x worse now, so why the rest of you “don’t get it” is beyond me.
You mean people that make their living off free trade and a vibrant economy are deciding that the Marxist in the WH is not their friend?? Who’d a thunk it??
I guess they initially figured that they could handle the drop in income because they have a lot of money in the bank and under socialism, the rich do tend to get richer; but now his War on America is beginning to threaten their reserves too. They thought that he was only going to bankrupt the middle class.
its bigger than that!
Two hot new vids for you, dont know if you have seen them
On sharia global finance
On sharia global Economy
Pass them on...now its easy to understand the quickened bailout of AIG... we bin had!!! by obama, -so-sad
King obuma’s ediface of fascism is crumbling. Even the Fat Welfare Momma’s Division is complaining and refusing to roll off the couch for obuma.
they deserve to lose all their money. A vote for democrats is a vote for taking money away from others. Of course, they probably assume they will be immune from it
I know enough rich people to know that you don’t have to be smart to be rich. In fact, sometimes it takes a certain ignorance to have the faith to do the things that smart people know will not work.
However, the rich people I know do have very smart people working for them.
BTW, it’s “Their”. ;)
I like Mr. Loeb for his ascerbic writing alone.
Too damn funny
No doubt. How many times does Barry have to call them “Wall Street Fat Cats” before they realize that he isn’t on their side?
I just found the full text of the letter, in pdf it’s WOW!
“All of the above leads us to conclude that America faces not only a crisis of confidence among consumers unwilling to spend and businesspeople unwilling to invest, but also a crisis of leadership. So long as our leaders tell us that we must trust them to regulate and redistribute our way back to prosperity, we will not break out of this economic quagmire. One can hope only that this Administration, composed of brilliant academics that have had experience in creating the very regulation and overseeing the very institutions that have failed, has learned from its mistakes and will set us down the right path. Perhaps our leaders will awaken to the fact that free market capitalism is the best system to allocate resources and create innovation, growth and jobs. Perhaps they will see the folly of generating greater deficits by “investing” in programs that lead to corruption and distortions of the system. Perhaps too, a cloven-hoofed, bristly haired mammal will become airborne and the rosette-like marking of a certain breed of ferocious feline will become altered. In other words, we are not holding our breath and are focused instead on navigating these murky waters for the benefit of our funds.”
To think that the inhabitants of Wall Street consider themselves—I’m guessing here—to be so smart and yet they never seemed to have understood the economic philosophy of Obama and the current batch of Democrats, which calls for redistribution of wealth, extension and growth of the welfare state, and reining in of capitalism.
They ain’t so bright, after all, now are they?
Mort Zuckerman, a prominent supporter of Obama’s campaign and the editor-in-chief of U.S. News & World Report, told Crowley that he believes Obama’s rhetoric when it comes to the business community runs counter to the kind of confidence the economy needs right now to turn itself around.
“I’m not saying that Washington hasn’t tried to do some good things,” Zuckerman told Crowley. “They’ve also done some things that I think are really, really very, very counter to trying to get this economy growing.
“One of them is not only regulation, but expensive regulation. The other is - and they’ve done something here that affects everybody’s confidence in the attitudes of this administration to the business community and to the economy - they’ve demonized the business world; they’ve blamed everything on the business world. Frankly, I don’t think that’s accurate, but more than that, it’s counterproductive to what this administration wants, which is a much more optimistic and confident business community.”
welecome to the real world...
Of course, this is Bovine Squat excreted for the brain dead public. The problem bank list is m much higher than 829. I heard last month that about 2,000 banks are on the FDIC endangered list.
What is it about writing on the computer that causes dumb writing errors so frequently? (Speed, probably)
“....we must trust them to regulate and redistribute our way back to prosperity...”
Until the idiots STATE that they DISAGREE with the Cloward/Piven strategy that the “Won” is implementing, they don’t understand ANYTHING.
obama WANTS to destroy capitalism!!!!!!!!!
Too damned funny.
I watch a lot of business shows. I can tell you a year ago, the MSM was full of derision and insult for the Tea Party movement.
This year, CEOs, analysts, traders and other talking heads come on TV one after the other and openly say, in essence, the fate of western civilization hangs on those formerly despised Tea Party members getting out the vote in November to stop Obama.
I even saw one host of business show, who demonstrably is an Obamabot, say this when her co-host teased the next story as “Will the Tea Party be strong enough to influence public policy through the November elections?” — her remark was, “I HOPE SO!”
I have been saying the same things for a while: this is not so much a crisis of CONSUMER confidence, but a crisis of CITIZEN confidence.
The people have totally lost confidence in their government. We no longer feel that we are in any way, shape or form being governed with our consent.