Along the gilded corridors of Manhattan’s largest banks, hedge funds and private equity firms and inside Washington’s financial lobby shops, Obama and the rest of his administration are regarded with a disdain so thick it often blurs to naked loathing, a fact that has significant implications for the president’s reelection campaign and his ability to operate over the next two years.
In an effort to understand such animus POLITICO interviewed a dozen senior Wall Street denizens, including C-suite executives, investment bankers, traders and financial lobbyists, who were promised anonymity in return.
Their complaints fell along similar lines: Obama and the White House don’t understand how capital markets work, don’t like people who make a lot of money and relish using Wall Street as a whipping boy to score points with the left.
“He whipped everyone into a frenzy against us,” said one banker.
“It’s a bunch of academic lefties down there,” said another.
“You say something to them and it just goes into a black hole,” said a lobbyist.