Wall St. to Obama: The Love Affair's Over

From Daily Finance.

"Corporate profits are booming again but President Obama's popularity is sinking fast. The list of financial and business titans claiming that Democratic policies are impeding the economic recovery and hurting US competitiveness, meanwhile, gets longer by the day.

Of course, much of the business sector has always harped about government interference. But now even high profile investors and executives who were once ardent supporters of President Obama are changing their tune. Investors should take note of the fast-defecting business community, since the upcoming Congressional elections could have a major impact on markets in the intermediate term."

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"The growing discontent on Wall Street seems to echo that coming from business executives earlier in the summer. Once seen as an Obama ally and a key player in shaping things like energy policy, GE (GE) CEO Jeffrey Immelt lashed out at the President earlier this summer and accused the administration of creating a sour economic climate."

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"Investors would be wise to put their partisan biases aside and observe the major shifts. It is telling that so much of the criticism seems to be coming from onetime supporters rather than ideologues who perpetually have an axe to grind."