In an article today in the New York Times, President Obama’s attempt to gain the support of Wall Street’s big wigs did not seem to go as well as hoped. The article suggests that the fund raiser held for President Obama by Warren Buffet did not attract a more diversified crowd of supporters from Wall Street and that most were Buffet supporters. There is also mention of the decline in support that the president has from financial heads, with them switching to support other groups. It seems as though the Obama administration is in need of more supporters which it isn’t finding. Is Mr. Buffet going to be enough to help them be on top?
It makes sense that President Obama has lost support from the financial sector. His proposed "Buffet Rule" tax on the super wealthy has certainly angered many corporate sponsors. The question is, with these wealthy contributors gone, can Obama rally more grass-roots support from around the country to fill the gap.That will be a tough job, especially with the economy in the gutters right now.
ReplyDeleteI think that President Obama has made a few mistakes over the last year. mistakes which have obscured his many achievements such as the reform on health care and turning the heat on corporate malfeasance. He also handled the Iraq and Afghan war much better than his predeccor, in that he actually bought a change and did something about the situation. Yet his shyness in going against his Republic critics, and timidity in explaining his plans to revive the American economy has left the middle class voter disillusioned about his convictions.
ReplyDeleteIn this respect, I think it is a good thing that Warren Buffet has chosen to stick with Obama because, he a fundamentally better bet than his republican critics.