Obama Overtures to Business Fall Flat
Posted on: 2010-08-09 17:32:34
Labeled antibusiness (1) by Republicans and some corporate chiefs, President Barack Obama mounted a campaign to show he wasn't. But his charm offensive has hit a rocky patch.
Business leaders gripe about burdensome new financial and health care regulations, what they see as unfriendly tax policies and vast government spending. They were put off by Obama's harsh depiction of "fat cat bankers" and "reckless practices," a label he applied both to Wall Street and to oil-spill giant BP.
Among the Obama policy detractors: JPMorgan Chase CEO Jamie Dimon, who supported Obama's presidential bid but actively opposed his financial regulation overhaul. Not surprisingly, Dimon was not on the 400-strong guest list for the bill-signing.
(1) OUR VISION for the USA would ... promote economic nationalism, which places the economy at the service of the nation; believing that the welfare of our people should supplant all other things, including the capacity of multinational corporations to abuse or disregard our people for uninhibited profit margins. Again as far as international trade is concerned, the United States would trade freely with anyone who wishes to do business, provided it doesn’t minimize or harm our own manufacturing base.