Prince Alwaleed: Obama Is `Not Succeeding'

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Nov. 20 (Bloomberg) -- Erik Schatzker recaps his interview with Kingdom Holding Company Founder and Chairman Prince Alwaleed bin Talal at Bloomberg's The Year Ahead: 2014 conference at the Art Institute of Chicago. (Source: Bloomberg)

The road.

We talk about the u.s. economy and i asked him if he had $1 billion extra to invest, when he invest here in politics and valuations in the stock market?

Let's listen to prince alwaleed bin talal.

It is a self-inflicted wound by the u.s. it is like taking the gun and shooting yourself in the foot.

This is unforgivable.

The u.s. has so many crises.

The 1973 oil crisis, the last recession.

Every time, you come out even stronger.

The u.s. people are very resilient in their approach to politics, economics, and business.

The entrepreneurship in the u.s. is unbeatable.

Where are the googles of the world?

They are all here.

Frankly speaking, you are down, but you are never out.

I believe in the american system.

Your royal highness, i want to ask you a direct question about president obama.

Is he feeling as america's ceo?

He is not succeeding.

[laughter] so far.

So the republicans are happy.

What has been his greatest mistakes?

I believe -- there is international foreign policy.

Is the first time we have seen him with egypt.

He gave an incredible speech and raised expectations in our region very high.

Everybody began to be very optimistic about the potential of having a peaceful process on track.

Five years later, there is nothing happening there.

There is no conference of -- comprehensive and coherent foreign policy.

That is why we are seeing for leaders blaming the u.s. for not being persistent -- consistent in its approach.

I will come back to foreign policy but let's talk about the president domestically.

Has he mortally wounded himself with obamacare?

Not for sure, but the issue of obamacare is his major legacy.

I can see how he will keep a stronghold on it.

And try to do the best he can to patch it up.

That will make the paralysis in washington deeper.

We have seen 39 members of the house republicans.

That is my concern, there is no permanent solution for obamacare.

It is going to make the u.s. even more internal he and in fact -- affect foreign policy.

Do you see him as antibusiness?

I cannot say he is antibusiness.

The u.s. is going to have to face top decisions.

Instead of sending -- having debt and a huge amount of recurring deficit, it is not sustainable.

Cutting spending or increasing taxes on the middle or upper class, this has to be discussed.

There has to be a frank discussion between both parties to get the house in order.

Prince alwaleed of saudi arabia, a spirited conversation.

I have never seen him speak so much about the u.s. economy and for that matter about america.

Erik schatzker with me.

You know him so well.

Explain to our viewers in the u.s. who he is and what his relationship is to the royalty of saudi arabia.

He is the nephew of king abdullah.

The king is over 80 years old.

There is an expectation that this is not going to last forever.

There is a rumor that happens.

Taxes are one of the certain things.

The issue for the prints, -- the prince, he cares so much about what happens in america, he is an amerophile.

He believes america is leading the world forward or backward on so many levels.

Saudi arabia is beginning to follow the example set here in terms of liberalization and women's rights, something he feels passionate about.

We associate him with citigroup.

Was he able to check -- can't -- was he able to comment on mr.

Dimon leaning over the desk.

We did not talk about jpmorgan, we talked about citigroup.

The ceo told him i don't care if we have more regulations, just tell me so i can get on.

This text has been automatically generated. It may not be 100% accurate.

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