…Some on Wall Street are apoplectic. One former supporter, Dan Loeb, compared Obama to Nero; the president’s enemies insinuated worse. In 2010, Stephen A. Schwarzman, a founder of Blackstone, said that an Obama proposal to raise taxes on “carried interest” — the main source of income for most private-equity managers — reminded him of “when Hitler invaded Poland in 1939.”
“I think it’s an unfixable relationship,” one Democrat involved in planning the March 1 fund-raisers told me this spring. “They hate him. They really, really do. They hate all the Democrats.”
One New York-area bundler told me about a conversation she had with a friend who attended an Obama fund-raiser.
“I just don’t think he likes us,” the guest reported back.
They are one of those industries that is used to getting exactly what it always wants from Washington, because they essentially own both parties. (As opposed to say, oil and gas, ally of Republicans, or the entertainment industry, ally of Democrats.) So Dodd-Frank made them very, very mad. But not just mad: Confused, hurt, betrayed. There is a psychosocial element to the response, clearly on display in the story of the rich people who wish for a speech about how they are not evil. They are essentially spoiled children who have just been lightly reprimanded for the first time that they can remember.
This is absurd garbage written by an idiot.
As with most things, the truth probably lies somewhere in the middle. But I suppose I’m being reasonable on the internet and should stop it immediately.