January 22, 2010

Obama is anti-business ..................

Jan. 22 (Bloomberg) -- U.S. investors overwhelmingly see President Barack Obama as anti-business and question his ability to manage a financial crisis, according to a Bloomberg survey.

The global quarterly poll of investors and analysts finds that 77 percent of U.S. respondents believe Obama is too anti-business and four-out-of-five are only somewhat confident or not confident of his ability to handle a financial emergency.

“Investors no longer feel they can trust their instincts to take risks,” said poll respondent David Young, a managing director for a broker dealer in New York. Young cited Obama’s efforts to trim bonuses and earnings, make health care his top priority over jobs and plans to tax “the rich or advantaged.”

Carlos Vadillo, a fixed-income analyst at Wells Fargo Securities LLC in San Francisco, said Obama has been in a “constant war” with the banking system, using “fat-cat bankers” and other misnomers to describe a business model which supports a large portion of America.”

Unlike other recent presidents, Obama hasn’t selected a leading business executive for his cabinet or a top advisory role. One year after taking office, he is coping with a jobless rate hovering around 10 percent and a federal deficit that rose to $1.4 trillion last year. In response, he has proposed a fee on as many as 50 large financial firms and yesterday called for limiting the size and trading activities of financial institutions as a way to reduce risk-taking.

The poll was conducted Jan. 19, before Obama unveiled the plan. Yesterday, after the announcement, the Standard & Poor’s 500 Index fell 1.9 percent, its biggest loss since Oct. 30.

The quarterly Bloomberg Global Poll of investors, traders and analysts in six continents was conducted by Selzer & Co. The poll has a margin of error of plus or minus 3.3 percentage points.

There is one other figure U.S. and international investors agree on: former Republican vice presidential candidate Sarah Palin, a potential candidate for her party’s nomination in 2012.

Palin Rating
With a net favorability rating of 15 percent among all investors, Palin does best in the U.S., where she has the support of 27 percent of respondents. In Asia, it’s 14 percent, and in Europe just 5 percent of investors view her favorably.

Also this week—Obama’s approval index drops to -18…. ouch! Rough week to be a liberal

RASMUSSEN:
Obama Approval Index: -18
Strongly Approve 25%
Approve: 20%
Strongly Disapprove 43%
Disapprove: 12%
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Total Disapprove: 55%

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