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IPFS News Link • Welfare: Political

What Wall Street wants from Obama in State of the Union address

On the top of their wish list is a kinder, gentler tone.
Some Wall Street executives have cringed as Mr. Obama has adopted a more populist rhetoric. He has recently attacked Wall Street for its greed and bonuses, and he said he’s ready to “fight” bankers if they oppose a new tax he wants to impose on their industry.
Since the president has donned his boxing gloves, the stock market has had a tough time, falling about 5 percent.
“It suggested [that] the president is confrontational with business,” says Jeffrey Kleintop, chief market strategist at LPL Financial in Boston. "A tone that says he is open to working together, to bring the best minds together, would be welcome.”