“It’s like he’s morphed into another person,” says one veteran entertainment executive, a passionate Democrat, who asked not to be identified because the person is thinking of sitting out this election. “He’s not the idealistic guy we thought he would be. Everyone I talk to is disappointed.”

Disenchanted Hollywood’s list of the president’s shortcomings seems to grow monthly: Environmentalism, gay rights, the wars in Iraq and Afghanistan and Obama’s handling of the unemployment crisis are a few of the persistent gripes. It might be a town filled with Bentleys and designer handbags, but high-level Hollywood is populated with self-made successes, and their sense of identification with the working and middle classes remains a powerful force when it comes to politics.

“He favors Wall Street instead of the everyman,” says the veteran entertainment executive. “All he’s doing is taking our money, and he’s not doing anything we want him to do.”