Obama Shocks the Elites

Perhaps they thought they could go further in the beginning, but the Clintons' overall goal became to change the system and make it more "fair." But Obama and his most dedicated acolytes don't want an improved system; they want a different system.

Some of Obama's supporters are just now recognizing this dreadful situation. They're not liking what they're seeing -- and experiencing.

The UK Telegraph reported on May 10 that "some of Barack Obama's richest supporters fear they have elected a 'class warrior' to the White House, who will turn America's freewheeling capitalism into a more regulated European system." You don't say. In fact, Obama has said that he wants the financial sector to play a much smaller future role in the economy. He actually wants to take government intervention further than European countries ever have. It looks like $3 million in campaign contributions doesn't buy what it used to.

Tom Lauria, the lawyer who properly complained that Obama and his car guys used threats and intimidation to trample on the first-lien contractual rights of the non-TARP lenders he represented in Chrysler's bankruptcy negotiations, gave $10,000 to the Democratic Senatorial Campaign Committee. Too bad for Mr. Lauria that there isn't a lemon law for political contributions.

High-tech company execs, whose contributions to Obama and Democrats were far higher than those made to John McCain and Republicans, thought that their campaign money might cause a President Obama to let them do their innovative thing. After all, tech is the future growth engine of a struggling economy, right? Forget it. Obama's proposed taxation of corporate profits on overseas operations would, if enacted, hurt them and the economy severely.

Now advertisers, a largely liberal bunch who named the Obama campaign Advertising Age's 2008 Marketer of the Year, and who admired how he "killed Election Day," are feeling the wrath of dear leader. You see, government-run Chrysler is spending too much on something and it needs to be cut in half. That "something" is advertising. Telling Obama and company every day that they're cool and hip didn't work out too well.

These and many of the other elites who have thus far been affected, or soon will be, have plenty of excuses, but no valid justifications, for why they are where they are. They are supposed to be among the engaged. They have a vested interest in paying close attention to reality and getting past the campaign hype. Instead, they fell for it all, hook, line, and sinker.

Now the game has changed to "how can we play along with this guy and not get hurt, or at least not get hurt too badly?" Sadly, the only reason they may be spared is that they're lucky, not smart.