Wall Street Likes Obama

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Business Week points out the a national poll conducted by Bloomberg finds that Americans 2-to-1 believe America's economy has worsened in the last year, Wall street as polled by the Standard & Poor 500 Stock Index is up more than 74% from March 2009.   BW also says Obama's programs are consistent with the general view of Robert E Rubin, Clinton's Secretary of the Treasury

Business week says Wall Street is right and that public confidence will return soon as well.   Its argument is that the public just has not seen what Wall Street sees.

Is there an alternative interpretation:   the public reflects the populist distrust of wall street as well as their own experience with the economy.   Wall Street reflects policies that benefit the fat cats on Wall Street.   Perhaps their financial success will trickle down and create jobs.   Still it's not the way I would have flown this ship.  The alternative would have been to nationalize the banks, rather than provide them with additional capital to stay afloat.

BW does credit Obama with reducing economic inequity.   The corporate world understands too much inequity is destabilizing.