CEOs Having 'Buyer's Remorse' Over Obama

Barack Obama was elected president of the U.S. with a lot of help, not only from the cheerleading liberal news media, but with the financial support of some business leaders.

But now some of those businesses leaders are feeling duped, according to Investor’s Business Daily: [1]“Fortune 500 leaders who believed Obama’s moderate rhetoric, and even raised cash and voted for him, have soured on him. They now believe he’s bad for business and hostile to the American free enterprise system.”

IBD cited a number of CEOs now critical of Obama including “die-hard Obama fan” Tom Wilson of Allstate, and Ivan Seidenberg of Verizon Communications.

Seidenberg told IBD the economic uncertainty that has seized the economy is because of the Obama administration’s meddling. He said the White House is “injecting uncertainty into the marketplace and making it harder to raise capital and create new businesses.”

Intel CEO Paul Otellini told IBD he thinks the president “does not understand what it takes to create jobs,” but stopped short of calling him anti-business.

IBD argued and reminded readers that regardless of his rhetoric, Obama’s background was filled with Marxist associates and attendance of “socialist conferences” at Columbia University. But it has taken Obama’s anti-business actions, including takeovers of businesses and an attempt to shrink the financial sector, for business leaders to realize how liberal the president really is.

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