General Electric CEO: Obama Doesn't Care About American Businesses

Jillian Bandes | July 05, 2010 7:37 PM

GE received almost $650 billion in tax credits from Obama when he first took office. Now, their CEO was caught red-handed bashing Obama for his anti-business policies.

Jeffrey Immelt, General Electric’s chief executive, was speaking at a private dinner with top Italian executives when he made these remarks about our Commander in Chief, via the Financial Times:

Mr Immelt...had harsh words for Barack Obama, US president, lamenting what he called a “terrible” national mood and expressing concern that over-regulation in response to the global financial crisis would damp a “tepid” US economic recovery. Business did not like the US president, and the president did not like business, he said, making a point of praising Angela Merkel, Germany’s chancellor, for her defence of German industry.

What does this mean? Even the guys getting deals from Obama don't think they're making out very well. Imagine what the guys not getting deals — everyone else — must feel like. Immelt apparently denied making the remarks afterwards, saying reporters took them out of context, but even less-severe criticism should be taken with the utmost seriousness.