Barack Obama in Saving Capitalism, by Robert Reich

On Corporations: Criticized as anti-business, but stocks hit record highs

Barack Obama--although often criticized by the business community for being anti-business--in fact presided over one of the most pro-business administrations in American history. Obama pumped hundreds of billions of dollars into Wall Street in order to save the Street (and the U.S. economy) from imploding after the crash of 2008, created a stimulus package that avoided another Great Depression, and enacted a broad-based health care law that enriched insurance and pharmaceutical companies. Under Obama's watch the stock market made up for all the losses it suffered in the Great Recession and reached new record highs, and, corporate profits rose to the highest portion of the national economy since 1929.