by thenewgreen

One of the enduring mysteries of the Obama years is that so many members of the hyper-deluxe economy—corporate C.E.O.s and Wall Street bankers—have abandoned him. The Dow is more than twice what it was when Obama took office, in 2009; corporate profits are higher than they have been since the end of the Second World War; the financial crisis of 2008-09 vaporized more than nine trillion dollars in real-estate value, and no major purveyor of bogus mortgages or dodgy derivatives went to jail. Obama bruised some feelings once or twice with remarks about “fat-cat bankers” and “reckless behavior and unchecked excess,” but, in general, he dares not offend. In 2011, at an annual dinner he holds at the White House with American historians, he asked the group to help him find a language in which he could address the problem of growing inequality without being accused of class warfare.