Talk to any investor, and he’ll tell you how Obama’s plan offers up nothing more than tired solutions, pork-barrel spending that will do little to reverse the economy’s woes – and may make a bad situation worse.
Accurate or not, that perception is growing among market professionals – and not just Wall Street’s sizable contingent of conservatives, but also those who voted for him, Democrats and middle-of-the-road Republicans who believed he had the intelligence and the temperament to lead the country out of the crisis.
One such investment-community supporter recently e-mailed me: “So far, Obama isn’t hitting it out of the park – but it’s early.” Another hedge-fund investor who supported the president was more rueful yesterday, saying that it’s the “Dems time to f–k up; they won the election.”
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