See here about Obama and the "Hedge Fund Democrats"

Actually, I've seen this in action at meetings where financial big wheels and professors mingle. You'd think that the people with the big bucks would be confident; on the contrary, they're insecure, because they want respect for their minds. And I know for a fact that some of Obama's big-money early backers were motivated in large part by the lure of being in the inner circle in a way that someone like Hillary, with her long record and connections, couldn't offer.

They supported Obama because as a relative Washington outsider they though he'd sell slots in his inner circle? And now after 4 years Obama has developed the Washington connections and doesn't need the Masters of the Universe any more? Is that it?

And now Obama says what anyone paying attention would: that these big-money people were, to some extent, making their money in socially destructive ways -- and they go insane, precisely because in their hearts they know that he's right.

And because money talks in politics, this pettiness, this display of ego and hurt vanity, may have disastrous consequences.

(Krugman)

There are three stories about the euro crisis: the Republican story, the German story, and the truth. -- Paul Krugman