President Barack Obama said corporate America has done well under his economic policies, telling The Economist magazine that chief executive officers should stop complaining about regulations and show greater social responsibility. "If you look at what's happened over the last four or five years, the folks who don't have a right to complain are the folks at the top," Obama said in an interview conducted last week and posted on the magazine's website late on Saturday.
Republicans have sought to portray Obama as anti-business, and businesses have complained that Obama's signature healthcare law and the Dodd-Frank financial reforms have raised costs. "I would take the complaints of the corporate community with a grain of salt," Obama said, arguing that his policies have been friendly to business. "They always complain about regulation. That's their job." "Oftentimes, you'll hear some hedge-fund manager say, 'Oh, he's just trying to stir class resentment'. No. Feel free to keep your house in the Hamptons and your corporate jet, etcetera. I'm not concerned about how you're living," Obama said.
First published August 4 2014, 4:23 AM