Though his media popularity remained strong, Obama’s anti-investor views were criticized by some in the business press. CNBC’s “Mad Money” host told MSNBC on Feb. 2 that the new CEO was acting like infamous communist leader Vladimir Lenin “Let me tell you something, we heard Lenin,” Cramer said. “There was a little snippet last week that was, ‘Now is not the time for profits.’ Look - in Lenin’s book, ‘What Is to Be Done?’ is simple text of what I always though was for the communists, it was remarkable to hear very similar language from ‘What Is to Be Done?’ which is we have no place for profits.”
Obama’s “I screwed up” response to the initial problems was greeted by jeers in the investment community. Street sources indicate the stock could be in for a rocky ride if this kind of mercurial leadership continues.
# # #
There are reasons why politicians seldom run companies. They don’t know how. Had Obama’s first few weeks been covered by the business press (see above) as if he were a company CEO, he would have been much criticized. Even before that happened, investors would have sold stock in Hope and Change like it was Enron and Edsel.
Imagine every misstep having an impact on a stock price, not a poll. Obama has the media in his back pocket, so polls matter little to him at this point. But if his company’s stock had dropped 14 percent since he became CEO, as the Dow has done in that time, investors would be running for the exits.
Bad things happen when politicians who have little or no actual business experience (that is most of them) meddle in the private sector. The actions they take hurt business and often make things worse. In Obama’s case, he’s already shown he lacks the maturity to run a company – be it Fortune 500 or Baskin Robbins’ 31 flavors.
It’s not that liberals are incapable of running a business. That’s silly. Warren Buffett and Bill Gates make that a laughable argument. It’s because Obama doesn’t believe in profit, he believes in government.
And in the business world, simply saying “I screwed up” doesn’t cut it.