Class Warrior

Telegraph reported Wealthy Wall Street financiers and other business figures provided crucial support for Mr Obama during the election, backing him over the Republican candidate John McCain as the right leader to rescue the collapsing US economy. But it is now dawning on many among them that Mr Obama was serious about his campaign trail promises to bring root and branch reform to corporate America - and that they were more than just election rhetoric.

Never back someone who says he is going to hurt you, when you think he is just kidding.

The money is needed to pay for a national debt that will double over the next five years; and triple over the next 10 years to $17.3 trillion.

And there is not that much money available even if he confiscates everything they have. The people that he is promising free things to are going to pay for them, either with taxes or higher prices for goods they buy, or money that loses its buying power.

But the crackdown already faces fierce Democratic resistance. A top Obama fundraiser and hedge fund manager said: "I'm appalled at the anti-Wall Street rhetoric. It was OK on the campaign but now it's the real world.

News Flash. The campaign is the real world. A politician that says he will do one thing, when you think he will do something else, is not one you can trust.

I'm surprised that Obama is turning out to be so left-wing. He's a real class warrior."

And did he not reveal that in the campaign?

Chris Edwards of the Cato Institute, a free enterprise think tank, said Democrats in Congress were unnerved by the president's latest plan to raise $210 billion over 10 years from multinational corporations. The money is needed to pay for a national debt that will double over the next five years; and triple over the next 10 years to $17.3 trillion. But the crackdown already faces fierce Democratic resistance.

And even stiffer Republican resistance. But we are giving him too much power to do whatever he wants.