...joining former Fed Chairman Paul Volcker
(Update at end)
Today's Wall Street Journal reports:
"William Donaldson, who was SEC chairman for about 2½ years from early 2003, along with Clinton and Reagan appointees Arthur Levitt and David Ruder, will join former Fed Chairman Paul Volcker in endorsing Sen. Obama, his campaign said. Mr. Volcker endorsed Sen. Obama in January..."
Got that? Arthur Levitt, appointed by Clinton. David Ruder, appointed by Reagan. William Donaldson, served under Dubya. So what am I missing here?
Isn't this the candidate with no experience? Haven't they heard about Ayers and Wright? What on earth has possessed them to join this list of other misguided souls who have endorsed Obama?
The WSJ goes on to say:
"...In a statement released by the campaign, the four men said they believed Sen. Obama would take a "reasoned approach" to "balanced regulatory reform..."
Hasn't anyone told them that:
"Sen. Obama has said he would consider raising the capital-gains tax rate from its current 15% -- a move that could have a profound effect on the financial industry."
Could this mean that financial wizards actually think someone who is a first-term Senator can have the makings of a national leader? (Nevermind that, um, Senators don't seem to make it to the White House all that often. But I digress.)
Just sign me "SHOCKED! SHOCKED!" And "Awed," too.
UPDATE: TheStreet.com cites the WSJ article, and mentions this:
"Obama, who also received an endorsement from former Federal Reserve Chairman Paul Volcker, has had no trouble getting Wall Street backing. The largest firms funding his campaign include Goldman Sachs(GS - Cramer's Take - Stockpickr), JPMorgan(JPM - Cramer's Take - Stockpickr), Citigroup(C - Cramer's Take - Stockpickr), Merrill Lynch (MER - Cramer's Take - Stockpickr) and Lehman(LEH - Cramer's Take - Stockpickr). "
Hmmm. Not bad. Not bad at all for a dude from Chicago with no experience.