Dan Loeb Fed up With Obama’s Class-Warfare

The Wall Street Journal has some interesting interviews with  some attendees of the Davos Economic forum. The Journal quoted many hedge fund managers who are furious at President Barack Obama. Many of the people quoted were big supporters of the president in the past. They expressed hope that the state of the Union address would change things but were dismayed to find what they considered more class-warfare by the President.

Dan Loeb, CEO of Third Point Capital, was a huge supporter of the President in 2008. Loeb donated massive sums of money and strongly urged everyone he knew to support the president. Loeb said that the president is engaging in  “class warfare.” He also noted that businessmen are “get sick and tired” of constantly being criticized for “engaging in the capitalist system.”

This is not the first time that Dan Loeb voiced his anger at the President. In December 2010, Loeb released a letters to shareholders, where  stating some very blunt and nasty opinions about the President, below is a paragraph from the letter:

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I don’t buy that all this was said as a sop to the angry left. One month into his presidency, the Obama budget message repeatedly ripped into “those at the commanding heights of our economy.” When at the White House Monday Mr. Obama suggested his next campaign will be “a conversation with the American people” about ending those rates (35%!) for “wealthy people,” I take him at his word. He won’t be at peace until this violation is erased.


Barry Silbert, CEO  of SecondMarket, stated “I can’t get a voice in D.C.”

Glenn Hutchins, CEO of private equity firm Silver Lake, “A lot of people think the system doesn’t serve them…that the American dream is broken.”

Leon Cooperman, CEO of Omega Advisors, who thought of running for president himself also is fed up with the President.

Cooperman stated in a recent interview:

That he is apolitical but was “shocked” that Obama demonized private aviation after the debt talks were over. It is one of the largest exports in the nation, and are mostly unionized.

He also accussed the president of engaging in classwarfare.

As the economy is improving so are the President’s ratings. However big money can do a lot in elections, and Wall Street does not seem particularly fond of the President right now.