BUSINESS
08/12/2008 05:12 am ET Updated May 25, 2011

Obama's Popularity On Wall Street Explained

Is it just noblesse oblige? Have the masters of the universe simply decided to start sacrificing for the good of the country?

Perhaps but Gasparino thinks something more sinister could be at work. These senior executives may not feel the pain of Obama's tax hikes because the high-rolling days of Wall Street are over for the foreseeable future. What's more, they are already rich and Obama isn't threatening to touch the wealth they accumulated during the boom.

"At bottom, Obama is about taxing wealth creation - not the piles of cash these guys have already accumulated," Gasparino writes.

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