Why Wall Street hates Obama

Wall Street's biggest gripe with President Obama is more about what he's said than what he's done.

"There's been so much finger pointing. He's made it seem bad to be successful and to be millionaires and billionaires," said Karl Wellner, CEO of Papamarkou Wellner Asset Management, a fund with $3 billion under management.

Outside of Obama calling bankers "fat cats," most Wall Street professionals point to few specifics and basically say it's more of a vibe they get from the president.

Wellner, who emigrated from Sweden in the early 1980s, says his biggest concern is that the president appears to want to clamp down on the accumulation of wealth. It's a sentiment echoed by many other top hedge fund managers and executives at financial firms.

Read Full Article from CNNMoney

- Posted: 2012-11-06 13:57:47

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