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.
All Americans (who are not a permanent part of the Welfare State) need a "much more optimistic and confidence business community." Class envy is counterproductive to our entire society, and it runs counter to our core values that we want to live in a nation where people can exercise and enjoy their God-given rights to life, liberty and the pursuit of happiness.
This is not to say we all have to persuade ourselves that Wall Street is perfect when it is not. But villifying -- to the point of no return, practically -- the very system of wealth creation that has made this country great, powerful and, most of all, free is just plain stupid.
This arrogant and anti-intellectual villification of Wall Street is another form -- perhaps an even more pernicious form -- of Obambi's overall Continual Apology Tour ('Cuz Everything About America Stinks).
P.S. When are people going to learn that you can't trust Rats with the economy any more than you can trust them with national security? Is it obvious now that the Rats are simply damn-the-torpedoes Socialists?
“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.”
Well, If all else fails in November, there is still 2012. Rebuilding this country from nothing is the price that has to be paid if people elect socialists.
Bob Chapman has been singing this for for yrs. The elites pushed the buttons too far & now can't be reversed.
I do not believe that they are.
Don’t count on 2012 yet. These guys that are bailing on the POS known as FUBO, will back Hillary if she challenges FUBO in the primaries.
Rebuilding this country from nothing is the price that has to be paid if people elect socialists.
This country will not be rebuilt should it reach that condition. Several successor states will emerge within the geographical boundaries of the former United States.
Should our economy collapse, or civil disobedience become widespread, we will go through something similar to the dissolution and demise of the former Soviet Union.
Not the best outcome, but not the worst either.
A registered Democrat, Mr. Loeb has given and raised hundreds of thousands of dollars for Democrats.
And he will do so again at some point.Democrats no matter the amount of education have No Core, Period. Mr.Loeb proves the point quite well.Repubs would do well to set this kind of a fool adrift.
“Mr. Obama was viewed as a member of the elite, an Ivy League graduate (Columbia, class of 83, the same as Mr. Loeb), president of The Harvard Law Review he was supposed to be just like them. President Obama was the intelligent choice, the same way they felt about themselves. They say that they knew he would seek higher taxes and tighter regulation; that was O.K. What they say they did not realize was that they were going to be painted as villains.”
“Why Wall Street Is Deserting Obama”
Could it be because he’s already done their bidding?
Good one! The sentiment of a great many of us here.
Maybe this is a lesson the Loeb and others like him will remember for a while...
They haven’t yet, right now they are feinting for crumbs and stimulus... but when nut crunching time arrives self interest will prevail.
Tell me about it! I used to laugh at people that didn’t know the difference between “too” and “to”. Then I caught myself doing it. I then realized that they were not stupid, they were just typing phonically, which I catch myself doing more than I am comfortable with.